How we charge:
– For new clients, we charge an initial engagement fee of £250
– For existing clients, we charge no engagement fee, i.e. £0
– We also charge a small loan fee of £499, on application, if the value of the mortgage loan/(s) are less than or equal to £300,000. However, if we are doing more than one mortgage for a client, i.e. a Let-to-Buy scenario, and the cumulative value of the mortgages is greater than £300k, then we do not charge the small loan fee.
Before meeting with a prospective mortgage client we will qualify all mortgages over the phone.
For this small engagement fee, we can take the hasstle out of applying for a mortgage/remortgage. This includes providing you with options, advice and implementation, saving your precious time and money: so why would you go directly to your bank?!
Limited companies can be used to purchase buy-to-let (BTL) properties – rental funds can then be drawn from the company through salary, expenses and benefits, dividends, or directors loans. They offer a number of benefits to landlords:-
- Tax benefits – reduced company tax liabilities versus personal tax rates
- Simple and quick to set up – it takes as little as 15 minutes to register a limited company online
- Future planning – it is simpler to transfer ownership of a limited company than a privately held property. Also, as the property will remain owned by the company, it will be protected from stamp duty and CGT
- Portfolio expansion – retaining profits within the company will help to protect them from crystallizing tax liabilities, enabling the portfolio to be expanded more quickly
- Limited liability – limited company status means that your liability runs only to any investment that you make in the company
- Increased credibility – many limited company owners feel that this gives the greater credibility, making it easier for them to attract tenants
There are a number of lenders who specialise in limited company BTL mortgages. They usually require the limited company to be a Special Purpose Vehicle (SPV) – this is a company which is set up just to hold property and do nothing else, and can be set up simultaneously with the mortgage application process. At Old Bray Financial, we have the expertise to help you through the process of setting up your limited company as an SPV, and finding the most cost effective way of arranging your loan.