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Choosing the right mortgage lender is crucial to maximising these benefits. In this guide, we’ll explore the top five buy-to-let mortgage lenders for limited companies, highlighting their unique offerings, why they stand out, and how they cater to SPVs.
Over recent years, lenders have tailored products specifically for limited companies. These products offer:
Favourable Affordability Calculations: Lenders assess rental income rather than personal income, often leading to higher borrowing amounts.
Full Mortgage Interest Deduction: Unlike individual landlords, SPVs can deduct 100% of mortgage interest as a business expense.
Streamlined Lending Criteria: SPVs with appropriate SIC codes (such as 68209 for letting properties) are easier to underwrite.
Each lender catering to limited companies offers unique benefits. Let’s dive into the top five lenders and how they support property investors.
Aldermore is a standout lender for portfolio landlords and limited companies, offering bespoke solutions for complex cases.
Aldermore is ideal for landlords who own multiple properties and need a lender that understands portfolio management. Their expertise in dealing with SPVs ensures a seamless borrowing experience.
Example:
A landlord with four properties uses Aldermore to refinance an SPV portfolio, benefiting from lower rates and additional borrowing potential for future investments.
As part of Nationwide, TMW brings the reliability and stability of a high-street brand to the niche of limited company mortgages.
Key Features:
As part of Nationwide, TMW brings the reliability and stability of a high-street brand to the niche of limited company mortgages.
Key Features:
TMW is perfect for investors seeking higher LTV ratios and predictable repayments. Their fixed-rate products provide long-term stability, ideal for planning growth.
LendInvest is a fintech-focused lender, making it a popular choice for tech-savvy landlords seeking quick approvals and efficient processes.
Key Features:
If speed and efficiency are priorities, LendInvest stands out. Their online platform simplifies the mortgage process, ideal for investors managing multiple properties.
Example:
A property developer uses LendInvest to secure a buy-to-let mortgage within two weeks, enabling a fast-track purchase of a high-potential property.
Paragon Bank caters to landlords with niche needs, such as HMOs or multi-unit properties, offering a robust range of products for SPVs.
Key Features:
Paragon is a leader in lending for HMOs and other non-standard properties. If your SPV manages unique property types, Paragon’s flexibility can make a difference.
Example:
A landlord with a portfolio of HMOs refinances with Paragon, accessing better rates and freeing up equity to fund additional purchases.
Molo Finance is a digital-first lender disrupting the traditional mortgage market with an entirely online application process.
Key Features:
Molo’s modern approach is perfect for tech-oriented investors who value speed and convenience. Their online platform is intuitive, making them an excellent choice for first-time SPV landlords.
Ensure your SPV is registered with the appropriate SIC codes (e.g., 68100 or 68209). Lenders use these codes to confirm your company’s purpose.
Most lenders require directors to provide personal guarantees for SPV mortgages. This means you’ll remain personally liable if the company defaults.
Select a lender offering products that align with your long-term investment goals, such as refinancing options or interest-only terms for cash flow management.
Ans: No, SPVs do not require a trading history, making them ideal for new companies focused solely on property investment.
Ans :Yes, limited company mortgages often have slightly higher rates than individual buy-to-let mortgages. However, the tax efficiencies often offset this cost.
Ans: Yes, many landlords refinance their SPV mortgages to access better rates or release equity for new purchases.
Ans: Consider factors like LTV ratios, interest rates, property types supported, and the lender’s reputation for working with SPVs.
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