property developers have begun moving their houses into their wives' names as fears grow that banks will move against their assets.

Sources also said several developers were looking to move assets that did not have mortgage charges into trusts, with their wives and immediate families as beneficiaries, as they seek to limit their exposure to personal guarantees they made when borrowing money.
In 1995, Mr Justice Richard Johnson ruled that the purpose of the 1976 Family Home Protection Act was to protect the family home and "to prevent families being evicted when a spouse, through either stupidity or greed or whatever else – or bad business or bad luck – lost the family home".
Some developers hope that means they will not lose their homes when they go bankrupt.
Given the value of many of the houses and their location, the developers could later sell the house to raise the equity to go back into business.
Legal, accountancy and investment sources have confirmed that the moves have been under way for months.
"I have no doubt it's being done," said one senior tax adviser.
However, one legal source warned that it would be hard for the trust moves to stand up in court.
"That would be a fairly well-used trick. It is easily undone and the court will just void those transactions," he said.
Meanwhile, some banks are believed to be taking their property loans off their balance sheets and moving them to their trading books so that they will not have to write down their values. Instead, the loans could be amortised over several years.