| Property | Two-bedroom new-build flat |
|---|---|
| Location | Canary Wharf, London |
| Client | Newly formed UK SPV with two directors living and working in Dubai |
| Product | Limited company BTL |
The challenge
Both directors lived overseas and had little UK credit history. The new-build developer set a deadline for exchange, and many lenders exclude overseas-resident directors.
What we did
We confirmed the SPV was set up with a property-letting SIC code and clean shareholdings. We placed the case with a specialist lender that accepts overseas-resident directors, who gave personal guarantees. Identity and source-of-deposit documents were certified in advance to keep compliance checks moving. Rental affordability was assessed at the lender's limited company stress rate.
The outcome
The SPV exchanged within the developer's deadline and completed when the building was finished.
Limited company buy-to-let mortgagesBuy-to-let mortgages for property held in a limited company or special purpose vehicle (SPV).
Learn moreImportant: Most buy-to-let mortgages are not regulated by the FCA. Your property may be repossessed if you do not keep up repayments, and a receiver of rent may be appointed.