Limited Company Buy-To-Let Mortgage Guide

A step by step guide to applying for a Limited Company Buy-To-Let Mortgage

Check eligibility

Can you answer Yes to all the questions on our Mortgages for Buy-To-Let Property leaflet? Please ensure that beneficial owners of the company are not a citizen of or resident in one of the countries that we do not support. Please note we will consider applications where the underlying directors are UK based. 

Skipton provides expat mortgages secured on properties located in England and Wales. Unfortunately, we do not at this time support properties in the Channel Islands, Northern Ireland, the Isle of Man or the islands of Scotland.

Check your property rental yield is sufficient to support an expat mortgage. Skipton has a handy UK Buy-To-Let Mortgage Calculator to estimate the size of an offshore mortgage that might be available to you.

Your limited company must only have a maximum of 2 directors.

Your company must be registered as a limited company and must be registered in England & Wales, Guernsey or Jersey.

Any guarantee is to be joint and several. Security is to be a charge over the property being purchased/re-mortgaged along with a guarantee from all the Directors of the Company.

Minimum Loan size to be £100,000.

Maximum loan to value (LTV) 65%.

Maximum number of properties owned by the company is to be 5 (This includes properties they will own as a result of the proposed purchase(s)).

Limited Companies must be incorporated for the principal activity of buying and holding residential property. There will be restrictions on Standard Industrial Classification codes (SIC Codes);

• 68100 - Buying and selling of own real estate
• 68209 - Other letting and operating of own or leased real estate
• 68320 - Management of real estate on a fee or contract basis

Complete your application

Please read Skipton’s Limited Company Buy-To-Let Mortgage Application Pack and fully complete before submitting. Please remember to read the declaration section carefully, print and to sign the form where requested (including the direct debit form), wet signatures are required. Independent legal advice when signing the guarantee will be recommended but not insisted upon.

Limited Company mortgage application fee is £4,999 for both purchases and re-mortgages.

Limited Companies must be incorporated for the principal activity of buying and holding residential property. There will be restrictions on Standard Industrial Classification codes (SIC Codes);

• 68100 - Buying and selling of own real estate
• 68209 - Other letting and operating of own or leased real estate
• 68320 - Management of real estate on a fee or contract basis

Gather supporting documentation

Supporting documentation is important, please ensure that all supporting documentation is provided as requested in the UK Buy-To-Let mortgages application pack. Having each of your identity documents properly certified by a competent individual is essential.

Application fee (Where applicable)

Please note the processing of your application will not commence until the UK Buy-To-Let Mortgage Application Fee is received.

Send your completed UK Buy-To-Let mortgage application and supporting documentations to Skipton

Send via email to mortgagesales@skiptoninternational.com or by post to: Skipton International Limited, Tudor House, Le Bordage, St Peter Port, Guernsey, GY1 6DS, Great Britain.

What happens once I have applied?

Skipton receives and processes your application

Depending upon where you live it could take a few days for your Limited Company Buy-To-Let Mortgage application to reach us. However, we endeavour to process most applications within three working days of receipt. For speed of delivery we recommend using a courier.

Provided your application is complete and meets our criteria we will then instruct a mortgage valuation. Sometimes we may request missing or additional information, therefore for your application to be quickly processed it is important that it is fully completed and all requested supporting documentation is included. Unfortunately, in some cases we decline applications prior to valuation, whereupon your application fee will be refunded.

A mortgage valuation is instructed

Valuations are carried out and managed by Connells estate agency who we instruct to carry out a valuation on our behalf. As you will have already paid the UK Buy-To-Let Mortgage application fee, which includes the costs of a mortgage valuation, we will NOT be requesting separate payment.

Once the valuation is completed Skipton will review to ensure that the sale and rental valuations are confirmed. Should there be an issue or concern Skipton will liaise with you to determine your preferred approach. In rare occurrences Skipton may decline an application at this point where the property is not considered sound security. Otherwise Skipton will forward you a UK Buy-To-Let mortgage offer.

Skipton makes a UK Buy-To-Let mortgage offer

You will receive the UK Buy-To-Let Mortgage offer by email. Please ensure that you read the mortgage offer letter thoroughly. You will be committing to the repayment of a significant sum and there may be early redemption clauses or conditions on the mortgage, etc., that you need to understand and be comfortable with.

If you wish to proceed please fully sign the Mortgage offer letter (for joint applications both parties must sign), scan and return (email is fine). Once the signed UK Buy-To-Let Mortgage offer letter has been received and checked, Skipton will instruct solicitors.

Instructing Solicitors

Skipton uses Ferbrache & Farrell for all of our Limited Company Buy-To-Let remortgage and house purchase conveyances. As you have paid an application fee, Skipton will not be requesting further funds from you to cover the costs of Skipton’s conveyance. Please note that when remortgaging your property there is no legal requirement to instruct your own solicitor (except for refinances where the arrangement being repaid is an Islamic Finance arrangement. For these refinances, you will need to source your own specialised representation)

For house purchases you will require a solicitor or licenced conveyancer to act on your behalf. The application fee includes the cost of a standard conveyance, when performed by Skipton International’s lawyers, Ferbrache & Farrell. The UK Buy-To-Let Mortgage Application Fee guide provides full details.

You are of course at liberty to instruct any solicitor of your choice, however using the same legal representative as Skipton International, can often simplify the process reducing completion time frames.

Ferbrache & Farrell can be contacted for Limited Company Buy-To-Let mortgage on +44 (0)1481 741300 or info@ferbrachefarrell.com.

Completion of the mortgage

In order to complete a house purchase please remember to have your buildings insurance arranged in good time and ensure that the interest of Skipton International Limited is noted on the policy, as this can sometimes be a cause for delay.