The Nottingham launches new buy-to-let mortgages
Nottingham Building Society has launched a range of limited company buy-to-let mortgages.
The range includes a competitively priced two-year fixed rate at 2.76%, with £999 fee and a two-year fixed at 2.79%, with a fee of 0.50% of the mortgage amount.
Both are available to landlords with 25% of the property’s value as a deposit or equity.
The new products are available through mortgage advisers and include a free property valuation.
What’s limited company buy to let?
Most landlords own their investment properties on an individual basis but it’s possible to become a limited company and hold rental properties under that structure.
This has become increasingly popular in recent years due to income tax changes that mean limited company structures can offer potential tax efficiencies to landlords (although this isn’t guaranteed).
Nikki Warren-Dean, head of intermediary sales at The Nottingham, said: “Judging from the conversations we’ve been having with mortgage advisers, many landlords are considering structuring their portfolios on a limited company basis, if they haven’t already.
“It’s important we offer competitively priced products to suit their needs and that build on our expertise in the buy-to-let space.”