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Video: BM Solutions avoiding limited company as landlords not always getting right advice – Rickards

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  • 09/12/2019
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Video: BM Solutions avoiding limited company as landlords not always getting right advice – Rickards
Phil Rickards, head of BM Solutions, has said the lender will not offer limited company buy-to-let products as there is a worry clients are not being advised by tax experts every time.

 

Speaking on Mortgage Solutions Television in association with BM Solutions, he said limited company buy-to-let mortgages were “not an area” for the lender due to them being “very specialist” and requiring a certain standard of assistance. 

He said he was “not entirely confident” that landlords taking out buy-to-let mortgages through limited companies were receiving expert guidance every time.

This was causing the lender to have reservations about accepting such business onto its books. 

Rickards (pictured) said: “If you’re a mortgage broker, there’s no way you should be writing an off-the-shelf limited company buy-to-let product, on offer from a number of really good lenders, without your customer having gone through expert tax advice.” 

He continued: “And I’m not entirely confident that happens on every occasion, so it would worry me if we were taking business on to our books that wasn’t assessed on an expert basis.

 

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