Most lenders will not allow you to borrow the funds from the Limited Company as a Directors Loan, it would have to be salary and dividends. Whilst it may be your Limited Company, it is after all, a separate legal entity to you as an individual so it is viewed no differently than you borrowing the funds as a personal loan from a bank. Lenders do not like it when you borrow funds for a deposit as if you are borrowing funds for the deposit and borrowing funds by way of a mortgage to make up the rest of the money you need for the purchase, you won't have actually personally contributed anything yourself so do not have any skin in the game so to speak.
There could be one or two who could possibly consider it (cannot think of any off the top of my head) but they would want to factor in the repayment of the loan as a commitment so would expect to see an agreed monthly repayment and that figure would have to be factored into affordability. If you already have a mortgage on your current property which is not being repaid, that would have to be factored into affordability too so your income would have to be enough to support all 3 (current mortgage, directors loan and new mortgage).
Have you also considered the stamp duty implications too? If you are not selling your current property then you will be liable to pay an extra 3% stamp duty on the purchase of the new property too. You would get that 3% refunded after you sell your current property (so long as that sale completes within 3 years of the new purchase completing) but nonetheless, something to consider for cashflow purposes.
There could be one or two who could possibly consider it (cannot think of any off the top of my head) but they would want to factor in the repayment of the loan as a commitment so would expect to see an agreed monthly repayment and that figure would have to be factored into affordability. If you already have a mortgage on your current property which is not being repaid, that would have to be factored into affordability too so your income would have to be enough to support all 3 (current mortgage, directors loan and new mortgage).
Have you also considered the stamp duty implications too? If you are not selling your current property then you will be liable to pay an extra 3% stamp duty on the purchase of the new property too. You would get that 3% refunded after you sell your current property (so long as that sale completes within 3 years of the new purchase completing) but nonetheless, something to consider for cashflow purposes.
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