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Buy to let mortgage by a limited company
Options
Suny
Posts: 1 Newbie
I am looking to arrange a buy to let mortgage on a purchase of a residential property by a limited company,
Can any body help with current market as my broker advised me that there is no lending to a LTD COMPANY for BTL
Urgent!
Appreciate your Help
Can any body help with current market as my broker advised me that there is no lending to a LTD COMPANY for BTL
Urgent!
Appreciate your Help
0
Comments
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Listen to your broker. Lending to limited companies for BTL has all but ceased.poppy100
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Listen to your broker. Lending to limited companies for BTL has all but ceased.
Agreed. I can't think of any lender who currently does this
I am a Mortgage adviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I know of a high street bank that has recently agreed funding on the basis of 50% LTV and 150% rental cover.0
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Commercial funding could still be an option though it would have to be an obsolutely blinding proposition, ie very low loan to value and very high rental income. Lenders really don't like "property" at the moment.
You would need to speak to some one who knows this market inside out, you would also need to be able to show that your main income is not property related and that you are doing this as a "sideline".Happily an ex mortgage broker!0 -
NatWest used to be accommodating and look behind the limited company.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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