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Yes my thoughts too... my brokers 1st response was that i would have to redeem all mortgages and pay early redemption fees etc as change in company structure.
don't want to rock the boat unnecessarily but also don't want to be in breech of their terms.
In short I’m looking to resign as director of my btl spv company which holds mortgages btl property.
I’m looking to “swap” places with my wife.
Happy for all pgs to stay in place etc but need to remove myself as an active director / shareholder. Nothing untoward just box ticking for another...
Thank you for the information - really helpful.
To look at future-proofing and getting ahead of the game, where would you start with getting fca authorised? Is it a different level for unregulated products etc?
Would anyone know the requirements to start a commercial property finance brokerage?
I understand the requirements around residential mortgages/compliance etc.
Do any of the same regulations apply or are needed for commercial?