Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Lp24
    • By Lp24 8th May 18, 1:06 PM
    • 1Posts
    • 0Thanks
    Lp24
    Start up loans and mortgages
    • #1
    • 8th May 18, 1:06 PM
    Start up loans and mortgages 8th May 18 at 1:06 PM
    Hello, just wondering if anyone has any advice on start up loans.
    I have sent off my application for a start up loan which is proving to be a long process.
    However, I also plan on moving house in the very near future. Will having a business start up loan effect my mortgage application and bring my affordability down?
    I'm struggling to find much information on this, so will really appreciate any help!!
Page 1
    • Savvy_Sue
    • By Savvy_Sue 9th May 18, 11:00 PM
    • 39,058 Posts
    • 35,947 Thanks
    Savvy_Sue
    • #2
    • 9th May 18, 11:00 PM
    • #2
    • 9th May 18, 11:00 PM
    Well, let's start with:

    is this a personal loan for you as a sole trader? "You" are "the business" so yes, I'd have thought it would bring your affordability down.

    is it a loan for a new limited company? "You" are a separate entity to "the limited company", so that might not bring your affordability down, but can't be sure.

    What is your affordability based on? Where does the income with which you intend to pay the mortgage come from?
    Still knitting!
    Completed: 1 adult cardigan, 3 baby jumpers, 3 shawls, 1 sweat band, 3 pairs baby bootees,
    1 Wise Man Knitivity figure + 1 sheep, 2 pairs socks, 2 hats 2 balaclavas for seamen, 1 balaclava for myself ...
    Current projects: Poppies, mohair cardigan pattern arrived and going strong!
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

671Posts Today

6,127Users online

Martin's Twitter