Offset Mortgage

[wonderwaif]

Hello,
I was wondering if anyone who knew of any companies/banks/etc that are contractor friendly when it come to offering offset mortgages. Most I seem to find only take income into account and not dividends/contractor rate. I'm running via the limited company route.
Thanks in advance.
J.

Mortgage!!??? Don't you know the housing market is doomed and you should be renting?
Do try to keep up.

[Lockhouse]

Most of these accounts will not allow limited company funds to be used to offset a personal mortgage, only partnerships or sole trader accounts, and those that do (if such an account even exists) will mean that you incur a "benefit in kind" charge and will end up paying extra personal tax anyway.

Stuff like this just raises a flag to the IR saying "Come and get me boys..."

[BoredBloke]

"Most of these accounts will not allow limited company funds to be used to offset a personal mortgage"

I think that should be 'all'. I asked about this at the RBS and they said that you cannot do this with a ltd company - although they do get asked the question a lot.

[MarillionFan]

""Most of these accounts will not allow limited company funds to be used to offset a personal mortgage""

Its all. You cannot offset you're mortgage using company funds. IR wont let you, neither will the bank.

If you are a sole trader - then yes you can.

I have a woolwich offset, never heard of external accounts being allowed. I assume by external, you mean another woolwich account.