Bounceback Loan Question

Hi, I have a question regards my bounceback loan that i cant get a straight answer from the lender on. My ltd co is myself and my wife as joint shareholders and the BBL agreement is made to the Ltd co. We would like to remove my wife as a director and shareholder. The potential problem is this - the company bank account is purely in her name and the BBL (same bank) only has her name and signature on it as director. If we remove her as a director are the bank going to want repayment of the loan?

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  • DE_612183
    DE_612183 Posts: 1,633
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    you should make the changes with your bank before you makes changes at companies house.
  • Savvy_Sue
    Savvy_Sue Posts: 45,826
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    DE_612183 said:
    you should make the changes with your bank before you makes changes at companies house.

    Sound advice, IMO.

    Never mind repaying the loan, the bank might well want to stop providing banking services if the only signatory on the account of a ltd co is no longer a director of said company! 
    Signature removed for peace of mind
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