Tuesday, January 2, 2024
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Mortgage brokers expect increase in limited company buy-to-let business.
Forty-nine per cent of mortgage brokers expect to place more limited company buy-to-let business throughout the next 12 months, according to Paragon Bank research. The survey of over 300 brokers also found that 45% expect an uptick in non-portfolio limited company business during the next 12 months.
Louisa Sedgwick, Paragon Bank's commercial director of mortgages, said: “I think intermediaries are right to expect to see more limited company business this year. It is a structure that has become increasingly popular with landlords in recent years as they have responded to government changes to the tax treatment of buy-to-let property ownership.”
The findings align with those of a separate study, undertaken as part of Paragon’s PRS Trends report, which found that 64% of landlords who plan to invest in property in the next 12 months will do so through a limited company, compared to 15% who will finance in personal name. This limited company purchase intent proportion is averaged across the range of portfolio sizes and increases to 82% amongst landlords with six or more properties.
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