Skipton International Limited are now able to offer Limited Company lending (SPV lending) to clients wishing to purchase a UK Buy-To-Let property in a company structure rather than in their personal name(s).
The new product launch is with effect from Monday 23rd January 2023 following a “soft launch” period which we have just concluded.
Basic criteria is detailed below but for more information, please speak to one of our experienced Mortgage Sales team on 01481 734 000 or email us on mortgagesales@skiptoninternational.com.
Criteria
- Maximum number of Directors is 2.
- Maximum number of properties owned by the company is to be 2.
- Limited Company must be registered in England & Wales, Guernsey or Jersey.
- Limited Company must be incorporated for the principal activity of buying & holding residential investment property.
- There will be restrictions on Standard Industrial Classification codes (SIC codes).
- Minimum Loan size to be £250,000.
- Maximum LTV 65%.
- Security is to be a charge over the property being purchased/re-mortgaged along with a guarantee from all the Directors of the Company.
- Any guarantee is to be joint and several.
- Independent legal advice (ILA) when signing the guarantee will be recommended but not insisted upon.
- The underlying client(s) will need to establish a suitable property holding company (SPV) and a bank account with a UK provider in the name of the Limited Company.
- The application is submitted in the company name and will be supported by personal guarantee from the Directors.
- Pricing as personal lending.
- Arrangement fee £4,999 payable upon application.