Mortgage interest rates & deals

[Slumdog]

Finally had a offer accepted on a property. Are there any recommendations for mortgages out there at the moment. Currently I am considering either a tracker or fixed rate, hopefully around , the 2.8%-3.6%. I have a 30% deposit which helps however I was thinking of trying to persuade one of the high street banks to also take on my business account (which holds a reasonable warchest) and try to grab a deal that requires a 40% deposit (but still only put in the 30% deposit

Also is there any other way that the business account can be offset against the mortgage. RBS still seem to be doing this - RBS | Business Offset Service | Help to cut your personal mortgage

[Fandango]

I didn't realise anywhere actually did that, that looks like a really good option!!

I'm currently in the process of looking for a new Mortgage

Edit> Ah it only seems to be applicable if you are a sole trader or in a simple partnership

Thought it sounded too good to be true!

[sbakoola]

I didn't realise anywhere actually did that, that looks like a really good option!!

I'm currently in the process of looking for a new Mortgage

Edit> Ah it only seems to be applicable if you are a sole trader or in a simple partnership

Thought it sounded too good to be true!

DAMN IT ..

[Slumdog]

Best deal I've found so far, nationwide offering 3.09% fixed rate for 4 years

[eek]

Finally had a offer accepted on a property. Are there any recommendations for mortgages out there at the moment. Currently I am considering either a tracker or fixed rate, hopefully around , the 2.8%-3.6%. I have a 30% deposit which helps however I was thinking of trying to persuade one of the high street banks to also take on my business account (which holds a reasonable warchest) and try to grab a deal that requires a 40% deposit (but still only put in the 30% deposit

Also is there any other way that the business account can be offset against the mortgage. RBS still seem to be doing this - RBS | Business Offset Service | Help to cut your personal mortgage

That only works if

Your business
You need to be in business as a sole trader or simple partnership.

Sole trader? The mortgage can be in your name or in joint names between yourself and one other person.

Simple Partnership? All the accounts you include must be in the name of the business partners.

Now the puma (on here occassionally) has a system that may work however it pulls a trick to allow your company to put the money into your personal bank account. I doubt HMRC would be happy when they saw it but I'm not sure what they could do about it.

[ASB]

It involve a deed of trust which state the company is still the beneficial owner of the money.

The money should ideally be in a separate account, which shows it is clearly identifiable and available for corporate use on demand.

First direct (and I am sure loads of others) allow multiple linked accounts.

[Old Greg]

That only works if



Now the puma (on here occassionally) has a system that may work however it pulls a trick to allow your company to put the money into your personal bank account. I doubt HMRC would be happy when they saw it but I'm not sure what they could do about it.

Ask the puma how many clients he has on this.

Perhaps he should get a QC opinion.

[northernladuk]

Ask the puma how many clients he has on this.

Perhaps he should get a QC opinion.

Contractor weekly have list of issues that HMRC use as a guide to what is aggresive tax avoidance and one of those states... 'The involvement of professional trustees is claimed to guarantee success.'

What is Aggressive Tax Avoidance? - Contractor Weekly

I used to think PUMA might have been on to something with the trust things I have gone off the whole idea in the current climate.

[ASB]

Contractor weekly have list of issues that HMRC use as a guide to what is aggresive tax avoidance and one of those states... 'The involvement of professional trustees is claimed to guarantee success.'

What is Aggressive Tax Avoidance? - Contractor Weekly

I used to think PUMA might have been on to something with the trust things I have gone off the whole idea in the current climate.

It's a deed of trust, the trustee would be the director not a profession trustee. Something entirely different.

For example for a number of reasons I ended up with a house, and a mortgage on it which was in my sole name. I executed a deed of trust in favour of my then wife giving here half of it. Obviously the mortgagor is still first in the queue. Bingo job done.

They are very commonly used to establish who the genuine owner of an asset is. e.g. all shares held in non certificated form.

Another common use is assets held by owned by minor children such as physical property or shares.

Deeds Of Trust FAQS - Globe UK Legal Services