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Personal guarantee on limited company mortgage
mizrahman26
Posts: 37 Forumite
Hi
I am looking to purchase a investment property through a limited company.
The mortgage provider, Kent reliance are asking me to signs personal guarantee, can anyone assist me on what that actually means.?
I have a residential property jointly owned with my brother will this be locked into this mortgage and if so how can this be enforced god forbid if it is jointly owned?
I am looking to purchase a investment property through a limited company.
The mortgage provider, Kent reliance are asking me to signs personal guarantee, can anyone assist me on what that actually means.?
I have a residential property jointly owned with my brother will this be locked into this mortgage and if so how can this be enforced god forbid if it is jointly owned?
0
Comments
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The personal Guarantee means the responsibility for the debt does not end with the Limited Company.
Presumably you got professional advice when setting up a Limited Company to purchase property?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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