Tricky commercial property purchase help pls :/

Quiel_type_r

Good evening all,

I was wondering if anyone who knows anything about commercial properties could give advise.

My partner's mum is the sole director of a company which owns a property (terraced house at £300k value) and she is staying at this property paying rent to the company. Mortgage lender (bank) has decided (change of policy) to end the mortgage agreement leaving £65k left to pay or they will take the house.

What is the best way for her to buy the property off the company?

Because:
A) high street lenders seem to not 'do' this kind of mortgaging/lending as its a 'bridging loan'? Not entirely sure what this means.
so she can then get a residential mortgage as normal.

Any cost efficient way of getting these done would be appreciated.

Many thanks.

Dave_Ham

I don't think you are going get answers to this on this or any public forum.

This seems a really weird way to have set it up originally and this is likely to be the source of the issue from the current lender.

There will be a solution although the devil will be in the detail

Likely to need an experienced broker

Quiel_type_r

This is what the general consensus is from people they have spoken to. Just thought I'd post just I case someone has a had a similar dealing in the past.

I'm not entirely sure but I think her company was used previously to buy and sell houses, no idea why they have stopped and not sold this house so she ended up moving in and just paid rent to the company.

Thrugelmir

Will the Company make a taxable capital gain on the disposal of the property?

Dave_Ham

Cannot think of many reasons why anyone would have this type of setup, but I stand corrected if someone comes in

Best of luck

Quiel_type_r

Can you elaborate thrugelmir? I'm not too clued up with the subject please excuse me.

Any way to transfer ownership efficiently?

I also have one more question:

If for argument's sakes she can somehow buy the property off the company, as the director of the company, won't she just get the money back anyway?