Buying or transfer of flat from company to director

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pretty817
pretty817 Registered Posts: 1 New contributor 🐸
Two years ago I set up a limited company and as the director (only one director) I gave the company a loan to purchase a flat. I now wish to either transfer the flat into my name so that I can obtain a BTL mortgage. It is not possible to get an interest only mortgage whilst it is in the company name.

I have been mulling over the best way to do this, least costly and least complicated. I am owed most of the loan from the company, so was wondering whether to demand the loan back and suggest the transfer of the property to me and I pay the company the difference between what is owed to me and the value of the property now. Would this work in the eyes of HMRC?

I do not want to create a problem through lack of knowledge/experience.

Thanks

Sandra
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