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The Property Podcast

ASK134 - Can I buy at auction through a limited company? PLUS: Will I qualify for a buy-to-let mortgage?

The Property Podcast

Rob Bence & Rob Dix

News, Education, Business, Investing, Business News

4.82K Ratings

🗓️ 1 May 2018

⏱️ 5 minutes

🧾️ Download transcript

Summary

It's time for another couple of questions in this week’s edition of ‘Ask Rob & Rob’, two listeners ask Rob & Rob... Can I buy at auction through a limited company? PLUS: Will I qualify for a buy-to-let mortgage?... ASK YOUR OWN QUESTION TO ROB & ROB! Don't be shy! All you need to do is leave a message with your name and whatever's on your mind. Just pick up the phone and call 013 808 00035 (normal UK call rates apply). Or if you prefer, click here to leave a recording via your computer instead. See omnystudio.com/listener for privacy information.

Transcript

Click on a timestamp to play from that location

0:00.0

Hi, I'm Rob.

0:02.0

And I'm Rob.

0:03.0

And this is Ask Rob and Rob, where you know the drill by now. You send in your questions and we do our very best to answer them for you.

0:18.0

Today, as ever, you have not disappointed. We've got two great questions that have come in, but before we have a

0:23.2

listen to those let's have a recap of how you can send in a question of your own.

0:26.4

Yep dead dead easy all you need to do is give us a call

0:29.3

Oh 1.13 808 triple oh 35 that's oh 1.8 a000.00.35, that's 013, 808,000.

0:34.0

3.0.35, and you can leave us a voicemail there.

0:36.0

Or alternatively, you can go over to the Property Hub.

0:38.0

DotNet. Ask and send us a message there instead.

0:41.0

Okay, so our first question today comes in from Cameron

0:43.2

let's have a listen. Well hi Robin Rob it's Cameron here my question concerns buying

0:48.1

a property through a limited company in particular buying a property at auction.

0:53.0

As far as I can see, getting a mortgage for a limited company purchase can in some cases take some considerable time running into weeks if not longer.

1:02.0

But when buying a property at an option is typically a

1:05.8

four-week settlement period between agreeing to purchase and settling the deal with

1:10.2

funds at the auction house. I wonder therefore if it's best to simply steer

1:14.7

clear of buying its auction through a limited company if mortgage finance is needed or alternatively

1:20.8

do you have any other bright ideas or thoughts on this one? Many thanks

1:25.2

in advance and thanks again so much for all the great information and knowledge on

1:29.6

the podcast. Thanks, bye. All right Cameron as you've've rightly identified, getting a buy-to-let mortgage for a limited

1:35.3

company can be a real test of patience. It can take a ridiculously long time sometimes.

...

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