Limited Company Buy to Let
Our limited company buy to let mortgage service
Special features of what we offer include:
- Whole of market service - we can compare buy to let mortgages for limited companies from most UK lenders
- Access to leading btl market mortgage rates
- Access to exclusive buy to let loan deals not available on high street
- Fast turnaround - speak to us today if you need to move quickly
- To investigate your company buy to let mortgage options call our btl mortgage team on 0117 313 7780 or fill in our call back form.
"The essence of the Fair Mortgages service is professional independent mortgage and protection advice brought to you by a team of specialist advisers and experienced administration support.
As your mortgage is such an important transaction, good advice is imperative.
Limited Company Buy to Let
Securing buy to let finance as a Limited Company is possible, however lenders tend to have specific lending criteria and requirements which differ from what would be expected from an individual borrower, it may also be more difficult to secure this type of finance for a limited company from high street lenders.
Certain lenders that do offer limited company buy to let finance may stipulate that they will only lend to Ltd companies that deal solely in property; such as Special Purpose Vehicles (SPVs).
Specific criteria lenders may require in order to grant a buy to let mortgage to a ltd company includes:
- A rental yield of at least 125% of the monthly mortgage payments
- A personal guarantee
- A loan to value of 65%-85%
- At least two directors ( or one if there is only one) will need to be credit scored
If you already run an existing trading company that is not a special purpose vehicle then you may find it more difficult to find a mortgage although there are a select few lenders who will consider these applications even if the trading company does not run in property.
Getting a buy to let mortgage through a newly set up limited company is possible as well with some lenders, but they may need to verify the income of the directors in order to garner the underlying affordability of the loan. Even If the directors have an adverse credit history it may still be possible to get the mortgage as long as the lender’s criteria are met. Lenders often require directors or major share holders to sign a personal guarantee, these work by the individual agreeing that if the lender has to repossess the property and there is still money owed after the property has been sold that individual is accountable for the remaining sum which would be the same if you applied for the buy to let mortgage personally.
Buy to let products suitable for limited companies do also tend to have more expensive interest rates than what would be available for an individual applicant however there are still a wide enough choice of products to make shopping around to try and find the best deal available for a limited company worthwhile. However some of these products may only be available from specialist lenders which can only be accessed via a professional intermediary.
If you want to find out more about getting a buy to let mortgage for a limited company, whether it’s a special purpose vehicle or other type of trading company, you may benefit from seeking the assistance of an independent mortgage advisor, who can use their expert knowledge to search across the whole of the market on your behalf to try and find the most suitable product for your limited company’s needs.
To find out if Fair Mortgages could help you, you can fill in our online contact form or call us directly on: 0117 313 7780.