BTL Purchase from personal names into Limited Company (SPV)
Client is a professional landlord with 18 buy-to-let properties spread across London and the South East. Many of these are owned in their personal name. following advice from their accountant they decided to purchase one of the properties in a new so after accountants advice he decided to purchase one of his own properties in a new SPV (special purchase vehicle) limited company.
The transaction needed to take place at full market value so a lot of importance was placed on the valuation stage. The client also owned the leasehold of the flat and freehold in a different company name – this connection between freeholder and leaseholder is not liked by a number of lenders, which reduced the options available. The client was also on a tight timescale, needing completion within five weeks from start to finish.
Hawke FS sourced and placed the application with a lender who was able to work with professional landlords that had a minimum of four mortgaged buy-to-let properties. The lender was also comfortable with the freeholder and leaseholder being the same person (albeit through a different limited company). The deal was sourced and progressed at speed and completion took place within four weeks.
Leave your phone number, and one of our experts will call you to discuss what we can do for you.