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Having a Trust as the legal owner of a BTL could be a smart move if it suits your circumstances ( after taking tax advice) but it does limit the number of lenders available due to the nature of the ownership. The normal lenders don’t really understand this type of lending and do not lend to trusts.
Here are a few reasons to choose Chess Mortgages.
Experienced advisers
We’ve been advising clients on mortgages for over 40 years.
We move fast
No need to wait; we respond & process applications quickly.
Whole of market
We scour UK lenders, private banks & offshore lenders for deals.
What you need to know…
For trusts the LTV can be lower than the standard and can vary from 60% to 70% but 75% may be possible depending on other factors.
Most specialist schemes do have slight higher minimum loan amounts as Trusts are the domain of HNW clients.
Usually yes so you must weigh up the costs v benefits long term
Not normally – the lenders fees are in line with normal specialist mortgages and the lenders are likely to appoint their own lawyer in addition to you using your own. This adds to the costs.
What our clients say…