Precise – Limited Company BTL 75% LTV 5 year fixed at 3.54%Make Text Bigger
For a limited period and to take advantage of the Stamp Duty holiday for properties under £500,00, Precise Mortgages has launched a new 5 year fixed rate Buy to Let mortgage for Limited Companies at 3.54% to a maximum of 75% Loan to Value.
The product is specifically for single dwelling residential properties purchased through a limited company. Newly formed SPVs are accepted and there is no limit on shareholders under the age of 21, but they must be director dependants. Available for Purchases and Remortgages.
- 5 year Fixed at 3.54%
- Maximum 75% LTV
- Product fee: 2.00%
- Assessment rate: 3.54%
- Reversion Rate: BBR + 5.40%
- Minimum loan: £40,000
- Maximum loan: £3m to 60% £1m to 70% £750k to 75%
- Early Repayment Charge 4% in years 1 and 2, 3% in years 3 and 4, 2% in year 5
Limited Company Criteria:
- Rental cover – Assessment rate:
- Higher of pay rate + 2%, or revert rate (minimum 5.50%) for shorter term fixed and tracker products.
- Pay rate for 5 year + fixed rates (additional underwriting may be required).
- Loan size: up to £3m to 60% LTV, £1m to 70% LTV, £750k to 75% LTV, £500k to 80% LTV (product restrictions may apply).
- Portfolio: up to 20 properties (LTV limits apply) to a total value of £10m with Precise Mortgages, unlimited with other lenders
- Maximum term: 35 years (maximum guarantor age at application 80 years)
- Ownership: No limit on number of shareholders under the age of 21, subject to them being a director’s dependant. Newly formed SPVs accepted, as well as personal to Limited Company with equity gifts and capital raising