Business Car Lease

shaun196809

Good Morning,

I am looking at taking out a Business Car Lease through my Limited Company. As part of the process, they carry out a credit check against me as a Director.

Later next year I will be applying for a mortgage.

Does anyone know if the loan being taken out through my business for the car, be visible on my credit file and as such, reduce what I can get for a mortgage?

Many thanks.
Shaun

[Deleted User]

Firstly - I doubt it as you and your company are two separate entities.

Secondly, maybe a bit more obvious, but have you checked your credit file - try noddle which is free?

shaun196809

Thanks for responding.

I haven’t taken the loan out yet so there will be nothing on my credit file. What I don’t want to do is to take out the loan and find the amount of mortgage I can get is reduced because of this car loan.

bengalknights

Is it a guarantor loan? If so you will be credit checked as the guarantor

shaun196809

No, its not a guarantor loan. This is what has been requested:
When filling out our online Business Finance Application Form, you will be asked to provide the following information:

Company details – including name, address, company reg. number and annual turnover
Director details – including name, date of birth and marital status
Business bank details – including bank name, account number and sort code

Nearlyold

Any help

https://www.osv.ltd.uk/does-a-lease-contract-count-as-debt/

gingerdad

Unless you have to underwrite it personally for some reason it shouldn't appear as it's two separate legal entities.

I am director of a company and a number of lease and lease purchase contracts none of which are underwritten by me so thus don't appear on my files.