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Can you put mortgage/property in company name?

nsjb
nsjb Posts: 5 Forumite
in Mortgages & endowments
My brother and I have a residential mortgage on a property and for various reasons would like to change the name of the owners of the property to our company name. Is this possible and does it necessitate changing the mortgage details too...? Thanks if you can help.. :think:

Comments

  • MortgageGenie
    MortgageGenie Posts: 135 Forumite
    It depends on what the property is used for and why you want to transfer ownership to a limited company?

    If it's because it's actually an investment property and rented out then you could apply for a buy to let mortgage in the name of the limited company. However if you or a close family member currently resides in the property you will not find a lender willing to arrange a residential mortgage for a limited company.
    I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • nsjb
    nsjb Posts: 5 Forumite
    Thanks for reply MortgageGenie. It is an investment property which is rented out to our mother who has a different surname. If we applied for a buy to let mortgage in company name but didn't mention our relationship to her what could possible consequences be? Cheers
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