National Counties adds limited company lending in response to demand

  • 15/06/2016
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National Counties adds limited company lending in response to demand
National Counties Building Society has added limited company lending to its proposition in response to tax changes in the buy-to-let (BTL) sector.

The building society will offer lending on limited companies with up to eight directors to intermediaries and their clients on all buy-to-let products with a minimum loan amount of £75,000 and fees of 1.5%.

Cammy Amaira, head of intermediary sales at National Counties, said the products have been adapted to suit investor needs.

“We have listened to what the brokers are telling us and the improvements we have announced reflect these views,” said Amaira.

Tax relief changes to be imposed on personal buy-to-let products from next year will not apply to limited companies.

National Counties has also cut interest rates on its three- and five-year variable rate loans from 3.14% to 3.04% and from 3.54% to 3.34% respectively.

Procuration fees for all buy-to-let products have also recently been increased to 0.5%, up from 0.35%

“As the market for incorporated investors grows, we have added greater flexibility and have rewarded brokers with higher proc fees, which reflect the complexity of casework they have to handle,” said Amaira.

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