Hi There, after my grandad passed away. My parents and I decided to buy the property as an investment.
As a way of avoiding a bridging loan, we utilised the non-arms length transaction to renovate the property first and then plan to purchase it (the property was deemed as high renovation work so couldn't get a commercial mortgage).
We will be buying it in an ltd company and want to rent it out this September. In order to do this we have to change the insurance to a HMO landlord insurance package and purchase the property. However, we may not have it in the company name by September.
My question is, is the company able to declare rental income from the property and rent out to tenants whilst the property is still in my grandad's name? This would also mean the executor of my grandads estate will change the insurance on our behalf to a HMO landlord insurance.
Thanks in advance for your help.
