Phil Rickards, head of BM Solutions (pictured), said: “The short answer is that it has been over-hyped. We’ve all seen press coverage of the dramatic growth of limited company BTL. But it’s predominantly written on purchases, a sector that’s shrinking, it’s just over 20 per cent of the BTL market, therefore that growth is on a smaller percentage of the market.”

“We’re concerned that brokers might believe the hype and just pick an off the shelf BTL product,” he added.

Andrew Montlake, managing director, Coreco, said: “I’d echo that it’s definitely just a purchase thing. Predominantly for remortgages, where it’s in a personal name, they are not changing it to limited company, it is complex and it is expensive in some cases.”

“The first thing we say is make sure you get independent tax advice and then we can do it whichever way is best for them,” Montlake said.

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The panel comprised:

Victoria Hartley, group editor, Mortgage Solutions

Phil Rickards, head of BM Solutions 

Andrew Montlake, managing director, Coreco

Doug Hall, director, 3mc