Buying Family Home Through Ltd Company

[MeansBusiness]

DH and I are sole owners of our Ltd co. Business is going well, but have been trading for less than 2 years.

We are desperate to move house but can't get a mortgage because we don't have the required min accounts for the business to evidence affordability.

So we're thinking of buying a house through the ltd co instead and then renting it off the business.

I appreciate this isn't necessarily very tax efficient, but it's either that or waste £1k+ a month rent. And it would be a short term solution.

I have no idea about commercial mortgages though. I can't even find any rates online.

Is it easy to get a commercial mortgage? Are they expensive? Do they have long tie-in periods?

Does anyone have any experience in this area?

Hi OP

I'm not sure if you are able to do this unless the house is part of the business i.e necessary for the business, but not 100% sure.
i have a friend who did this, but not in contact anymore.
it was a nursery though so the actual premises were the business.
i hope somebody else comes along to help as admittedly I'm out of my depth here.
You had gone to unanswered messages already so decided to set your thread free

Sorry OP just thought.
You could pay yourselves a dividend out of the business that will be taxed and then spend it how you want.
I also know you can have a directors loan, but haven't done this ourselves.
There are some good accountants and your thread in legal may get more responses.
Now, really can't think of anything else, but Good luck.

Thanks morethan. From a quick google it's all legal to do, just not tax efficient. Will have a look at moving the thread.