Mortgage shouldn't have been granted
If this is a consumer loan, then the Consumer Credit Code requires the lender to engage in responsible lending and not to make loans that are unsuitable for the borrower.
If the loan is unsuitable, then a complaint should be made to the bank itself. If this cannot be resolved, then it should be referred to the Financial Ombudsman Service.
Phoenixing
Often when faces with the insolvency of a company, the directors will sell the business to a related entity and then place the company in liquidation. Whilst this is not uncommon, it often raises some serious legal problems for the company and the directors, and will sometime not give the directors the result that they desired. It is also problematic for a company to enter into a transaction for the purpose of defrauding creditors.
If a business restructure or recovery is required, then it is essential to obtain proper advice beforehand.