Maximising offset mortgages

[DaveB]

That wasn't really the question though. The question was can you link a Limited Company bank account to the Offset mortgage and the answer is categorically, no.

What you're implying is that it is possible to take a Director's Loan out and pay that into your personal account which would then be offset to the mortgage, which, yes (so long as T&C's are abided by - check with your Accountant) is possible I believe, but the that wasn't the question.

You can do it with a directors loan but the benefit is limited by the time restrictions. You have to pay the loan back within 9 months of company year end or pay tax on it and HMRC take a dim view of repaying the loan on a Friday and taking a new one on Monday and will treat it as income.

EM8565 - Close Companies: CTA10/Section 455 (Loans to Participators): Bed and Breakfasting

[NickNick]

Their literature is confusing and a bit misleading. They're referring to sole traders. But I do seem to remember that you can use up to £5,000 as a directors loan. Need an accountant to confirm this though.

Yep, they are referring to sole traders, but they talk about Ltd Companies. Either way, doesn't apply to me. I am applying for a mortgage with them at the moment and these new regulations seem to add a lot to the time taken.