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Cons on 1 name on title? 1. other has no legal interest 2. title holder could deal with property without the knowedge of spouse - sell - mortgage - gift 3. On death title holder could gift entire house to mistress/RSPCA 4. Other spouse could go bankrupt and property still be attacked...

It is not illegal to transfer a property, but transferring = CGT event. Pointless as it would achieve no savings if the transferee sold quickly, but may be worth considering if it will be held for a while.

It hurts borrowing capacity as 2 are on the loan. What it does is allows a property to be purchased in the name of a spouse who cannot afford it. This may be beneficial for a number of reasons: 1. asset protection (weak if the other spouse is paying the loan) 2. Estate planning 3. income...

It allows a property to purchased in the name of a person who would not be able to get a loan to purchse on their own.

No. With spouses one on title 2 on loan is possible. Guarantees are possible with trusts and companies too.