80% LTV for Trading Ltd co. Buy to LetMake Text Bigger
Keystone Property Finance now have a very landlord friendly product and criteria range. In particular they will consider Trading Limited company applications (not just SPVs) for up to 80% Loan to Value and they will stress test the portfolio at a notional 5.5% and 125% interest cover.
This means you can borrow £174.55 for every £1 of monthly rental income up to a maximum of 80% with no maximum portfolio size. They will also consider Limited Liability Partnerships (LLP) along with the usual Single Purpose Vehicles (SPV) with one sic code.
At 80% LTV product options include:
2 year fixed @ 3.75% reverting to LIBOR + 4.90% and early repayment charges (ERC) of 3% in yr 1, 2% in yr 2 Loan sizes £50k to £500k
3 year fixed @ 4.05% reverting to LIBOR + 4.90% and ERC of 5% in yr 1, 4% in yr 2, 3% in yr 3 Loan sizes £50k to £500k
5 year fixed @ 4.15% reverting to LIBOR + 4.90% and ERC of 5% in yr 1, 4% in yr 2, 3% in yr 3, 2% in yrs 4 & 5 Loan sizes £50k to £500k
LIBOR rate is currently quoted at 0.80%
HMO and Multi-Unit properties have a maximum Loan to Value of 75% at a reduced interest rate to the above.
Limited Company criteria includes:
- No minimum trading period for new SPV’s
- Trading Ltd Co’s – minimum 2 years trading
- Up to 4 applicants
- LLP’s accepted
- No fixed or floating charges or debentures
Standard Property Criteria at 80% LTV includes:
- England and Wales
- Minimum value £75,000
- New build flats at 75% LTV
- Flats adjacent to or immediately above commercial premises
- Studio flats – min 30 sqm
- Properties with flying freehold
- Standard construction
- Wimpey no fines – after 1946
- Ex-Local Authority properties
- DSS tenants accepted
If you require assistance with this or any other type of Buy to Let finance please do not hesitate to contact me using the form below.