Landlords will know about the mortgage interest relief changes which are on the way. We are getting numerous calls asking how changing from a private to a limited company could affect future borrowing. We have made a list of the most common questions below and given a very simple answer which we hope will assist you. Q Are limited company buy-to-let (BTL) mortgages hard to acquire? A No, very simple just less choice but we feel this will change in the future. Q Will personal guarantees be require too secure a limited company BTL mortgage? A Yes, all lenders will require directors/majority shareholders to provide guarantees. Q Does the lender take a charge on my home with the personal guarantees? A No, this is the same as if you had borrowed personally. Q Is a bigger deposit required? A No, this generally is the same as a private borrower. Q Are the same types of mortgages available, fixed, tracker and standard? A Yes, the same choice is available as a private borrower. Q Can I borrower if the company is new and no previous accounts. A Yes, no problem as personal guarantees are required. We hope this will answer some of your questions, always seek professional advice as a mistake now could be very costly in the future. BTL Mortgage advice required? We specialize in limited company mortgages so don’t be afraid to call us and we will advise you as to the best way forward on your next deal.
