Hi folks,
First time poster with a bit of a long winded question so please be gentle! Can anyone advise on the situation outlined below? Apologies if not worded correctly or if posted in wrong section.
Director 1 paid for BTL property cash from personal account, purchased in name of company 1.
Director 1 and 2 made profits from ‘flipping’ properties in company 2. One property still owned in this company, which is on the market now
Director 1 had to be removed as director of company 1 in order to refinance onto BTL mortgage (due to his ex pat status) Director 2 is now sole director of company 1
Director 2 is sole director of company 3, which is about to purchase 4 properties with money coming from company 2 as a loan. The remaining money will have to come from director 2 personally, however director 2 will need this money back ASAP. Money cannot be released from the 4 properties until June 2020
Would it be ok for director 2, to put the money into company 1 or 2 and that company to loan it to company 3? Then when company 1 or 2 have the funds (from the BTL refinance in company 1 or the sale of the property in company 2) director 2 can be paid back the loan amount?
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