Buyer cant get personal mortgage. Wants to buy through his company. Advice?

[StillIRise87]

Hi,

We have just found out that our buyer cant get a mortgage due to an old CCJ. He wants to buy our house with his brothers through his company. Apparently he is a share holder and the company has a credit limit of 1.5 million. We are putting it back on the market. So stressful as we are moving to relocate several hours away where my husband has a new job so we will now be living apart, it seems! Does this seem likely? That they will actually follow through and be able to do this? I have never heard about buying a residential property through a business which isn't property related. Any advice would be gratefully received.

I thought that’s what rich people did to avoid paying capital gains or something? I’m sure I read that Bob Geldof bought his properties like this whilst preaching to the rest of us

Its a buy to let if that helps?

Surely your solicitor can advise whether this is possible?

I guess im asking as to whether anyone knows of anyone who has done this?

If he can't get a mortgage, and has CCJs, and is trying to wangle something, it will be a surprise if he comes through.

It won't be a surprise if he doesn't.

Back to the market is your best step.

Thanks PigletJohn. I suspected as such. Sigh! Market is dead before Christmas and new jobs starts in January.

You are right to go back on the market.let them carry on in the background trying to get the mortgage.