Buying a house through personal finance I.e mortgage v as a business

[chpjoe]

Hi

So I have recently saved up enough money to buy myself a house.

I have enough to buy a house outright without having the need to finance but if I took that route and used up all my liquid funds on the house I would be in a bit of a tight spot. My idea is to buy the house using 60-70% of what I currently have, and 15-20% for any renovations or work required for the property.

What I would like to know is if there are any better methods in purchasing the property. I recently had a brief conversation with a friend and they mentioned something in passing and said something along the lines of buying through my business. I have a small company and that turns over between £700,000-£1.25m a year. All in all once everything has been paid I am left with a net profit of approx £200,000.

So would I be better off purchasing the property through my business or a personal mortgage ?

All and any advice will be taken into consideration, if people would be so kind as to point out any pros or cons for each method I would be forever grateful.

 

[rc1138delta38]

@chpjoe Have you spoken to your business accountant? I don't think that's possible at all. Are you planning to live in the house? Pay rent to your business? What will happen when you want to move a partner in? You will be unable to sell the business too.

My opinion - consider borrowing more, if you want to pay it off you can always do that later after a 5 year fix.