Mortgage borrowing and Qualifying Loan Interest

katy123

We need to inject around £30k into the business, £6k will have to be share capital (that's the minimum share capital for £30k injection for the type of company) and the remaining £24k as a loan to the company. I know you can borrow personally and use the funds in a company and qualify for Qualifying Loan Interest. We borrowed £182k from Santander in January 2018 as part of our mortgage and although the funds were directed to the house purchase (as a mortgage does) we have always seen this as borrowing that we would eventually use for the new company, i.e. we deliberately borrowed instead of using the our £30k cash reserve in order to finance the company. Do you think this qualifies given that it isn't a direct borrowing.