All the members of the partnership must provide personal guarantees for the entire loan, while it must be evidenced that the company is non-trading.
Kent Reliance has started lending to clients in a limited liability partnership.
All the members of the partnership must provide personal guarantees for the entire loan, while it must be evidenced that the company is non-trading.
Borrowers can switch from having an individual buy-to-let mortgage to borrowing through a limited liability partnership.
Adrian Moloney, sales director for OneSavings Bank, said: “Following the Chancellor’s recent changes we introduced products designed specifically for property investors who were moving their investments into a limited company.
“We are pleased that we can now extend the same proposition to support LLPs.”
