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TODAY'S OTHER NEWS

More than half of all BTL lenders offered limited company products in Q2

Purchasing an investment property via a limited company, rather than as an individual, has become significantly more popular, and that largely explains why more buy-to-let mortgage lenders are now offering limited company products to landlords.

According to Mortgages for Business, 59% of lenders offered products to landlords who use limited companies as borrowing vehicles in Q2 2019.

Its Buy to Let Mortgage Index showed the number of providers serving corporate buy-to-let borrowers has been growing steadily since the cut in mortgage tax relief was introduced.

Recent data from Hamptons International shows that 12% of properties in the private rented sector are now owned by a company as tax changes, particularly mortgage tax relief, have left private landlords feeling the pinch.

The research by Hamptons International found that company landlords own 641,480 buy-to-let homes in Great Britain, with landlords in London most likely to own a buy-to-let via a company structure.

Steve Olejnik, managing director of Mortgages for Business, commented: “The [Mortgages for Business] index points to some good news for landlords, particularly those using limited companies who now have a greater choice of lenders than ever before, to help them finance their rental properties and access to better rates.

“In particular, we’ve seen the options increase at the more specialist end of the market, and we’re delighted that the number of lenders in that space is growing.”

Poll: Have you acquired property via a limited company?

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