If you are looking to purchase a property to let out there are two ways you can register the property – in your personal name ( see our other pages for further information ) or within a Limited Company.
Buying under a Limited Company you take advantage of what is known as a SPV ( Special Purpose Vehicle ) which means that you ( or your Accountant ) set up a Limited Company which trades in the buying and selling and renting of properties which may provide alternative tax advantages to buying the property in your own personal name.
Under the conditions of a Special Purpose Vehicle ( SPV ) the Limited Company can be set up and once registered at Companies House can apply for a Buy to Let mortgage meaning that the Company does not have a minimum trading period.
Limited Company Buy to Let mortgages are available to both employed and self-employed people.
Manchester Mortgages are not Tax Advisers or Accountants and independent advice from a qualified person is recommended before any choice in which name to purchase a Buy to Let property is taken.
The number of lenders providing mortgages for Limited Company Buy to Lets is limited and lender fees tend to be higher but as stated after taking Accountant’s advice these costs may be outweighed by any tax savings.
MANCHESTER MORTGAGE advisers understand how Limited Company Buy to Lets work and can provide you with clear and friendly advice on interest rates, lender fees payable and rent required.
So if you are looking to buy your first Buy to Let property or your tenth or looking for any Buy to Let mortgage information please contact MANCHESTER MORTGAGES for friendly advice on 0161 706 0242 or complete and email our contact form and an adviser will be pleased to respond.
