Can I Get More Than One BBL?

Hey, I had a question – I’ve seen lots of people applying for multiple BBL loans, a colleague of mine has three limited companies and has already got two loans.

close a limited company

He found out yesterday that although they are completely separate businesses apparently you can’t have two if you had 51% of shares in the business and now doesn’t know what to do or what the consequences will be seeing as no clarification of this was made at the time of getting the loans

I was thinking about getting multiple but now won’t, but wondered when the government are going to lay down the rules of this whole thing as right now it seems all up in the air – thanks?

Note: Please refer to the Santander Group Guidance PDF for details as it will give you an idea of the circumstances in which more than one BBL can be claimed. Be aware some banks will only allow one BBL to be claimed though.