increasing company, reducing personal mortgage

[Nan]

Hi,
I want my LTC to repay some its debt for the extra money Ihave been personally topping it up with so that I can reduce my personalmortgage and increase the company’s mortgage to make the extra debt tax deductable
My investment properties are at one bank and my own homesmortgage is at another bank.
What is the best way therefore to rearrange my mortgagesto allow me to achieve this tax minimization?

[Bricks & Mortgages]

Hi Nan, Firstly please make sure you get clear from your accountant what $$ amount will be acceptable to repay yourself as you do not want to end up with an overdrawn shareholders current account. Then assuming you will need to raise a loan as your LTC as borrower for the amount and then reduce your personal lending by the same amount when the new funds are available. It will not matter which property this new lending is secured against and most lenders to do this will require a full application to be completed.