Keystone Buy to Let Mortgages has changed its criteria to accept trading limited companies and first-time landlords.
Keystone Buy to Let Mortgages has changed its criteria to accept trading limited companies and first-time landlords.
Currently a quarter (23%) of buy-to-let lenders offer products to special purpose vehicle limited companies – corporate structures designed to hold property but nothing else.
But just a handful offer trading limited companies due to the time consuming underwriting involved and expertise required.
On Tuesday Keystone urged brokers to submit cases before Friday 29 January to give themselves the best chance of getting deals done before the 3% stamp duty surcharge comes in from 1 April.
David Whittaker, managing director of Keystone Buy to Let Mortgages said: “We talked over the proposed changes with our funding partners, Paratus AMC, and decided that increasing demand for those looking to get into property investment and borrow via a trading limited company was an opportunity not to be missed.
"We hope that the introduction of lending to trading companies will help keep costs down for those affected by the government’s proposed tax relief restrictions.”
