Property Purchase - Ltd Co With An Individual

[FMCG]

Offspring could do with help in buying first home whilst warchest sat there doing very little.

Has anyone come across a scenario whereby the a Ltd Co owns half whilst other half "mortgaged" by an individual?

May be a crazy idea or non-starter but many on here are much wiser over such matters.

[northernladuk]

You can't mix a commercial and residential mortgage. The bank will want the house as collateral so won't accept two mortgages on the same property let alone one being LTD and one residential. They don't even like money being loaned for the deposit let along another entity in the chain.

Withdraw the money, help your lad out and move on. Don't let the tax tail wag the dog. Even if it's remotely possible there are all sorts of things that can come and bite you further down the line. Having your LTD tied in to a long mortgage meaning you can't shut down at any one point could also be more expensive than just withdrawing it and going full residential as one example.

Don't bring your LTD in to it. You've enough barriers without that. Lending the money for the deposit for one.

[FMCG]

Thanks NLUK - certainly given me someting to mull over.