Precise – Limited Company BTL 75% LTV 5 year fixed at 3.54%

by Howard Reuben CeMap CeRER

10:20 AM, 20th July 2020
About 2 months ago

Precise – Limited Company BTL 75% LTV 5 year fixed at 3.54%

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Precise – Limited Company BTL 75% LTV 5 year fixed at 3.54%

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.

Product Details:

  • 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

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