Question

Investing in a Property (England)

Mortgage on property owned by partnership

20 Jun 2016 | 0 comments

Hello – not sure if you can help with this one? My partner and I are registered as a partnership; we bought a property by us each lending the partnership the capital to buy the property with a mortgage. We have decided that we would like the partnership to repay the loans by getting a mortgage on the property – but we have been told by the broker that the finance company won’t lend money for this reason.
We have other properties with mortgages – so we don’t think there is a problem with us borrowing more money. Any ideas?

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