02. Remortgaging as a company

When a company wishes to remortgage a property, the process typically involves authorisation from the company's board of directors or other authorised representatives.

Here's how it works with different scenarios of company representatives: 

One member of the board of directors 

• If the company's articles of association or other governing documents authorise a single director to act on behalf of the company in property transactions, that director can make decisions regarding the remortgage of the property. 
• The authorised director would oversee the remortgage process, including evaluating remortgage offers, negotiating terms with lenders, and signing the necessary legal documents on behalf of the company. 

Two members of the board of directors 

• If the company's governing documents require decisions regarding property transactions to be made by two or more directors jointly, at least two directors need to be involved in the remortgage process. 
• Both directors must agree on key decisions related to the remortgage, such as selecting a lender and signing contracts, ensuring that the remortgage is conducted in accordance with the company's governance requirements. 

One member and company officer 

• In some cases, a company's governing documents may authorise a combination of a director and another company officer, such as a clerk, secretary, or deputy, to act jointly on behalf of the company in property transactions. 
• The authorised director and designated officer would work together to oversee the remortgage process, ensuring that decisions are made collectively and in accordance with the company's governance procedures.