We are trying to get a mortgage?

Question

we are trying to get a mortgage, it has been agreed in principle but they now need more information which we are having trouble getting. We have the money we were getting in the mortgage in our business account. Would we be better off using this and not having a mortgage. It is a limited company

Answer 1

I do not know what kind of information is so difficult to get.  And if you have money, why do you want a mortgage?  Something is not Koshers!

Peace.

Answer 2

you would need to check whether there are any limitations on borrowing from your company. For example, in Australia, you cannot borrow from your company unless it is on normal commercial terms and paid back within set time frames. Otherwise it is treated as a dividend and you have to pay tax on it. check with your accountant what restrictions you have. otherwise, it makes good sense to not borrow from "outside" when you can keep the interest payments "in the family"/.

Answer 3

Only you can decide if you want to use the money or not but I am having a problem determing what they want that you are so unwilling to provide that you would spend your emergency funds??