- Part of the bank’s continued focus on specialist lending
- “While Limited Company Buy-to-Let is already an established market, we see the potential for it to grow even further” Charles Morley, Director of Mortgage Distribution
- Maximum 75% LTV accepted
Metro Bank has today launched its first Limited Company Buy-to-Let product as part of its continued focus on becoming a leading specialist lender.
Owning a property through a Limited Company structure can be more tax efficient than owning the same property on an individual basis, providing landlords with greater flexibility to both manage and grow their portfolios.
Charles Morley, Director of Mortgage Distribution at Metro Bank comments:
“Launching a Limited Company Buy-to-Let product has been on our agenda for some time and we’re really excited for it to go live as we continue our journey to becoming the number one specialist lender on the high street.
“Owning a property portfolio within a Limited Company rather than as an individual can bring a number of benefits. While Limited Company Buy-to-Let is already an established market, we see the potential for it to grow even further”
Metro Bank’s Limited Company Buy-to-Let product in detail:
- Maximum 75% LTV
- 125% of the mortgage interest amount calculated at our standard Buy to Let stress rates
- Limited Company must be non-trading and must be limited to solely holding residential property and not engaged in wider activities (must be an SPV).
- Up to four Directors/Shareholders accepted. They must be the same people and have 100% shareholding
- No minimum income but at least one Director must be earning an income (other than rental)
- Portfolio landlords accepted – providing a maximum of 10 properties with Metro Bank (under £10m aggregated debt), or a maximum of 10 properties in total
- Maximum age 85 (mortgage term based on the oldest applicant)