stevie-b Posted January 3, 2012 Report Share Posted January 3, 2012 Hello everyone. I buy property for cash and renovate and either sell on or rent out, my latest property is has no mortgage and a tenant paying £550 a month, however the two places i normaly go for mortages have stopped doing company mortgages. The house is held in a company name. I have money but not enough to start a new project. I would appreciate any advice or guidance as to what to do next. Link to comment Share on other sites More sharing options...
National PropertyPortfolio Posted January 3, 2012 Report Share Posted January 3, 2012 Hi, We can most certainly help, please have a look at our website and contact us to discuss; www.nationalpropertyportfolio.co.uk. Link to comment Share on other sites More sharing options...
stevie-b Posted January 3, 2012 Author Report Share Posted January 3, 2012 Hi, We can most certainly help, please have a look at our website and contact us to discuss; www.nationalpropertyportfolio.co.uk. thanks for the reply, I checked out your website, it sounds like a great company, if i wanted to sell my property for 30% below market value. However, my question was a bit different. Link to comment Share on other sites More sharing options...
National PropertyPortfolio Posted January 3, 2012 Report Share Posted January 3, 2012 thanks for the reply, I checked out your website, it sounds like a great company, if i wanted to sell my property for 30% below market value. However, my question was a bit different. Hi there, I was thinking more along the lines of helping you with our mortgage services, sorry I should have specified. Link to comment Share on other sites More sharing options...
stevie-b Posted January 4, 2012 Author Report Share Posted January 4, 2012 So now london and country and TMW no longer offer ltd co mortgages are people just battening the hatches and waiting out the storm? Link to comment Share on other sites More sharing options...
Richlist Posted January 4, 2012 Report Share Posted January 4, 2012 People who want mortgages are getting them from anywhere that offers them an acceptable deal. Surely a mortgage broker would be a good place to start ? Have you spoken to any ? Link to comment Share on other sites More sharing options...
stevie-b Posted January 5, 2012 Author Report Share Posted January 5, 2012 People who want mortgages are getting them from anywhere that offers them an acceptable deal. Surely a mortgage broker would be a good place to start ? Have you spoken to any ? Thanks for that Richlist, I am using brokers but i was wondering if any of the people that are getting mortgages that are offered at an acceptable deal could tell me. I'd hate to go with a deal only to find out there was a better out there. Link to comment Share on other sites More sharing options...
Mortitia Posted January 5, 2012 Report Share Posted January 5, 2012 Try having a chat with Nat West or LLoyds. I use the first one and always find a deal going. Mortitia Link to comment Share on other sites More sharing options...
Richlist Posted January 5, 2012 Report Share Posted January 5, 2012 Thanks for that Richlist, I am using brokers but i was wondering if any of the people that are getting mortgages that are offered at an acceptable deal could tell me. I'd hate to go with a deal only to find out there was a better out there. * LImited Company mortgages for BTL are rare because the market for them is small.....and risky. * Very few people, outside of real developers, bother to form & trade through a Limited Company as the financial benefits are virtually non existant. * Additional security for any ltd liability loan is often expected. * I'm amazed that anyone can find any 'acceptable' BTL mortgage in the current climate where mortgage interest rates are high, arrangement fees astronomic and terms & conditions offered are often ridiculous.......and all in a climate of base rates at a 300 year low of 0.5%. Good luck. Link to comment Share on other sites More sharing options...
James74 Posted January 24, 2012 Report Share Posted January 24, 2012 Hi, I'm having the same problem with some properties in a ltd co name with an RBS facility which is due to end. Parragon Mortgages are lending to ltd co, but they have big fees ! If your wanting to raise some capital, why not sell to your personal name and get a standard buy to let with a mainstream lender you will have more choice. I did one with Northern Rock a few months ago and it went through very quick. Speak to your accountant re- capital gains tax !! Link to comment Share on other sites More sharing options...
Geezah Posted March 4, 2012 Report Share Posted March 4, 2012 Lenders criteria changes on an almost daily basis in response to ever changing market conditions. They tend to control the level of business they want by a combination of varying hoops! These include adjusting interest rates and arrangement fees and whether they will lend to Limited Companies at any given time. They say the high arrangement fees are due to the increased risks, you can well understand this when it comes to Limited companies but the same high fees tend to apply to Non Ltd co. BTL. so that part is just about greed. it's all a bit 'Smoke and Mirrors' when it comes to rates and fees. The only way to compare deals is to look at the total cost .inc rates and all fees over the deal period. Without a doubt you are severely restricting your options for finance if you want to conduct BTL through a Limited Company. As ever, it's all in the detail. PM me if you want and I'll be happy to look into things for you. As well as being a professional Landlord I am also a Mortgage and Financial Adviser, the two just seemed to fit together nicely! Link to comment Share on other sites More sharing options...
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