Our Limited Company Buy to Let products are available for landlords operating via a limited company to purchase or re-mortgage a property.
Product Criteria for Limited Company Buy to Let mortgages
- 2 Year fixed rates: Rental cover 125% of either pay rate +2% or 5.5% whichever is higher
- 5 year fixed rates: Rental Cover 125% of pay rate
- Rental Cover on debt for debt re-mortgage cases 125% of pay rate. Fees can be added to the loan for debt for debt remortgages
- Property must be let on an AST
- Rental assessment is based on occupation by 1 family on an unfurnished let
- Regulated or Consumer buy to let not accepted
- HMO not accepted
- Minimum income requirement £25,000
- First time buyers, first time landlords allowed.
- For portfolio landlords the maximum LTV INCLUDING fees is 75%
- Minimum energy performance rating of E on an Energy Performance Certificate (EPC)
- Limited Companies registered in the UK only
- No time limit as to how long registered i.e. new SPV’s allowed
- Company must be set up with the principal activity of buying and holding residential investment property and used for that purpose only in line with the appropriate SIC Code
- Latest set of accounts to be provided (where the company has been set up for more than 18 months)
- All Shareholders in the Company must be named as Directors
- Personal Guarantees for total borrowing (plus accrued interest & costs) taken from all Directors
- Maximum of 4 Directors – individual credit checks will be undertaken
- Details of all properties each Director has an ownership in (either in own name or a business name) must be provided.
- Maximum loan size £3,000,000. Loans over this are priced on a bespoke basis and have restricted LTVs
PLEASE READ OUR GUIDANCE NOTES AVAILABLE WITHIN OUR IMPORTANT DOCUMENTS SECTION ON OUR WEBSITE.