7 things to know about Limited Company Buy to Let Mortgages
Following changes in buy to let taxation a few years ago, Limited Company Buy to Lets have increased in poplularity. The following points should be considered when looking a purchasing a property throught a limited company structure.
Seek professional advice to ensure this structure is the right option for you.
The interest rate will be higher than buying the property in your personal name, get over it.
Make sure the company is set up with the right SIC code
You will need a Limited company bank account
You will need to sign a personal guarantee
The deposit can come from an intercompany loan
You will need to inform the lender if there are any material changes to the company structure.
This article is for general information purposes only and does not constitute advice. The author does not accept liability for any errors or omissions. Readers are recommended to take professional advice from a suitably qualified professional regarding their own personal circumstances.