Skipton International, the Guernsey-licensed bank, has today announced the rollout of its Limited Company Buy To Let product following a soft launch in late 2022.
This method of managing a BTL portfolio is becoming increasingly popular with lettings agency Hamptons estimating that around 40 per cent of all new BTL purchases are now made via a company structure.
In the period from September 2021 to September 2022, a total of 50,445 new companies were set up to hold BTL property, the second highest figure in any 12-month period.
To establish a company for your properties, you first need to set up a Special Purpose Vehicle for holding and renting property. This is more commonly known by the name Limited Company.
Skipton’s Business Development Manager, Roger Hughes, says: “Limited Company lending is proving to be increasingly popular for purchasing properties for rental purposes in the UK.
“There is much for landlords to consider regarding moving into limited company status, and, as always, it depends entirely on individual circumstances.”
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