Companies - Form 400

[gabnash]

I can't find the appropriate topic to post this one under - so apologies if this is not the best place.

I am thinking of setting up a limited company to buy residential property to let. I am bit confused by the documentation on the companies house website about recording mortgages. Would a company need to complete a form 400 every time it buys a property and uses a mortgage to buy it?

[jeffrey]

I can't find the appropriate topic to post this one under - so apologies if this is not the best place.

I am thinking of setting up a limited company to buy residential property to let. I am bit confused by the documentation on the companies house website about recording mortgages. Would a company need to complete a form 400 every time it buys a property and uses a mortgage to buy it?

Yes (but it's form 395, I think). Companies Act requirements are entirely separate from conveyancing ones. Most mortgagess (lenders) will instruct the solicitors to deal with this on completion.

[jeffrey]

Yes (but it's form 395, I think). Companies Act requirements are entirely separate from conveyancing ones. Most mortgagees (lenders) will instruct the solicitors to deal with this on completion.
There IS a form 400, I find, but it applies when a company acquires a property already subject to a mortgage which will continue in existence (i.e. Transfer subject to mortgage). Form 395 is the equivalent used when a company creates a new mortgage.