Skipton International has announced the rollout of its Limited Company Buy-To-Let product following a soft launch in late 2022.
This method of managing a UK Buy-To-Let portfolio is becoming a popular vehicle in which to purchase properties across Great Britain.
UK estate and letting agent Hamptons, estimates that around 40% of all new buy-to-let purchases are now made via a company structure, a record figure.
In the period from September 2021 to September 2022, a total of 50,445 new companies were set up to hold UK buy-to-let property, the second highest figure in any 12-month period.
Skipton is rolling out this alternative to a growing number of Buy-To-Let borrowers for their UK property purchases.
To establish a company for your properties, you first need to set up a Special Purpose Vehicle (SPV) for holding and renting property. This is more commonly known by the name Limited Company.
Skipton’s Business Development Manager, Roger Hughes (pictured), said: “Limited Company lending is proving to be increasingly popular for purchasing properties for rental purposes in the UK.
“There is much for landlords to consider regarding moving into limited company status, and, as always, it depends entirely on individual circumstances. We can currently assist with purchases in England and Wales.”