Allow Landlords to evict tenants where there are 14 days rent arrears14:34 PM, 1st October 2020
About 3 weeks ago 97
We are looking at mortgaging an investment property we bought towards the end of last year via our Limited Company. However, as most will be aware, there are few mortgage deals available for Limited Companies, and attract large fees and high interest rates – more so as this is our first BTL.
Previously, we loaned £100k to our business, with re-payment due within 30 days of a written notice of demand – the loan was also secured against the property.
I wondered if there would be any tax implications (both for ourselves as well as our company) if we were to transfer the property from our company back to ourselves as repayment of the loan? There would be no stamp duty payable as the value of the property is below that of the current threshold.
As we have just finished the re-furb of the property, we plan to rent it out, and then apply personally for a BTL mortgage once the six months ownership time period is over.
Any thoughts would be much appreciated.
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