2022 will be the year for buy-to-let and the limited company
Research shows lenders are expanding their product range for buy-to-let limited company mortgages.
Limited company buy-to-let mortgages now account for nearly 36% of all products on offer. Not all lenders offer buy-to-let mortgages to limited companies, but we can confirm this is changing all the time. More lenders are recognising limited company business is going to become a great deal more popular than years gone by.The cost of a limited company mortgage is on average 0.7% higher than the normal product, plus some set-up fees are higher as well. Most of the fees payable are on a percentage basis and range from 0.5% to 1.5% and an investor should be very careful of their choice.
Around 50% of the products currently on offer are available at 75% loan to value and as always better deals are on offer at lower loan to values.
The number company buy-to-let mortgages this year has currently accounted for 44% of all applications but this is rising month on month
Is it complicated to apply?
The application process takes slightly longer than the regular one.
There are a few more questions to be answered on the application form but nothing serious. New limited company products are appearing on a daily basis, it’s strongly recommend potential borrowers seek advice of an independent adviser as products vary in so many different ways.
Can we help?
If you would like to know more about limited company mortgages please do make contact and one of our independent advisers will be happy to assist.