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transfer property to sole trader

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  • transfer property to sole trader


    this is a odd Q to some but the situation I am in.

    I have a mortgage in mine and my partners name on our house, we are in positive equity, the mortgage was to do some additional work on the house.

    Repayments come from my sole trading account, which is also linked to my personal account all with Santander.

    Mortgage with Santander too.

    We have already transferred one property to the sole trade business, "me trading as xyz" and want to transfer the property with the mortgage to the "me trading as" umbrella.

    This is not for tax breaks, bankruptcy etc, its just the way we want to do it. We are not at risk of non repayment and want to keep everything as it is bar transfer the property.

    My Q is can this be done, the business is not a separate legal entity to me and everything, bank accounts, repayments etc will still be the same. We do not want the mortgage to change in any way as we are happy with it but am I likely to run into any problems with this transfer.

    My logic was that so long as repayments are met, property is still effectively in my name and has more equity than the mortgage. As far as Santander are concerned me, or me trading as are one and the same entity.

    Appreciate your thoughts,


  • #2
    Re: transfer property to sole trader

    This doesn't sound possible Santander will not lend to a company or sole trading entity for a personal residence.
    Large mortgages and High Net Worth Mortgages from enness private clients


    • #3
      Re: transfer property to sole trader

      Possibly you could change your address at the Land Registry to [You] [name of business] [followed by the address]. You wouldn't have "trading as" but wouldn't it really amount to the same thing?
      RICHARD WEBSTERwww.rwco.co.uk
      As a conveyancing solicitor I want to be helpful (England/Wales only) but can't accept liability for this.


      • #4
        Re: transfer property to sole trader

        If you're a sole trader, all income and assets already exist with you personally.

        The "trading as" is simply a title, not a legal designation.

        I should think it would only be an issue if you ran a registered company, which is a completely different legal entity to yourself personally.


        • #5
          Re: transfer property to sole trader

          liabilities and goodwill of an existing sole trader can be transferred to a newly ... Chopping small parts of your property and selling them off would .