Will going one-man-limited affect my credit score?

bluphoto7

I'm being made redundant in November, although my employer hasn't officially given me notice yet as they only need to give me three months by law (apparently).Another branch of my employer has offered me an indefinite (at least 2yrs) contract if I set up my own consultancy company with the top line being 15% more than my current compensation package, including all benefits, holidays etc. Pretty good deal I think.Thing is, I need a loan NOW (approx £8-10k) to replace my central heating system and consolidate some other debts. I'm happy to pay it off in full at Christmas, but don't want to take out a 12 month loan as I won't be able to afford the repayments. I figured a 5yr loan would mean cheaper repayments, even if I pay it off in full by christmas.With the redundancy in hand, I don't intend to pay myself anything for the first 4 months, and probably only a low personal wage (maybe £1500/mo) until Christmas 2009.Although my limited company will have revenue of maybe £80-100k per year, I wonder if my own personal credit score will be affected.Am I legally obliged to declare the redundancy when I apply for the loan?Am I better off going for a business loan - is there such a thing?ThanksGuy

Hillfly

If you haven't offcially been made redundant then surely you have nothing legally to declare at this stage? ( fyi: this is just my opinion - I'm no legal begal but I am a one man ltd company!)