HMO Mortgages for a Limited Company (Ltd Co)
HMO Mortgages for a Limited Company or Companies are now increasingly more common, to help residential landlords protect against additional tax on income.
Limited Company HMO Mortgages have been ever more popular since 3 years ago thanks to the changes in brought about in buy-to-let tax legislation, including Section 24.
Section 24 was announced in the summer budget of 2015 and has been implemented incrementally since April 2017. It means that the amount of income tax relief landlords receive for residential property finance costs will be restricted to the basic rate of tax if the property is held in a personal name.
As a direct result of Section 24, increasing numbers of residential landlords have sought to protect against tax by using Limited Companies (LTD CO) and Special Purpose Vehicles (SPV) to hold residential property and, due to the higher cashflow, HMOs especially. When set up correctly Limited Companies can be an excellent way to protect against tax when holding residential property.
Best HMO Mortgages For Limited Company (Ltd Co)
For more all you need to know about HMO mortgages, we have compiled the ULTIMATE GUIDE TO HMO MORTGAGES, that answers all of your HMO mortgage related questions in detail.
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