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Limited Company BTL mortgage with more than 2 directors
astreix
Posts: 238 Forumite
Any recommendation for fee free mortgage brokers or lenders who would offer a BTL mortgage on limited company where there are more than 2 directors?
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Comments
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What's the size of the mortgage? If it isn't sizeable you're probably limited to the likes of L&C, Habito, Trussle etc.
Do be conscious that any saving you make on the broker fee may be easily exceeded by the interest rate or cost fee difference on the recommended product. As a commercial BTL mortgage, it'll be unregulated so you don't really have all the protections involved in a regular residential mortgage. Good luck!I am a Mortgage Adviser - You 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.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
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It is a pretty complex part of the market. I hate doing BTLs, I refer all of them to a broker I know unless it is an existing customer.
I am not sure the priority should be cost of the broker, if you get someone experienced they are going to give you a lot of invaluable help.
SIC codes, tax implications, rental calculations, property types, personal guarantees, solicitors who will provide the legal advice for the PG - there are a lot of potential issues and that is before you even get to products and lenders. Are you sure you want to trust a call centre whose main selling point is being fee free or a website whose main selling point is it is all online?
It is a business/investment. The one place you dont cut back is on professional advice.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.1 -
You could try Aldermore. I went direct without a broker as although I'm sole director, there were very limited lenders for Scottish properties.1
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Being free or charging is less important than being experienced. I dont do ltd company btl. Far too much hassle for me when im busy enough with my core business or residential or small time landlords.
Maybe ask your accountant if he can recommend someone experienced1
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