Buy to let mortgages available to offshore companies

Mortgages for Business, independent buy to let mortgage brokers, has announced they are now able to offer offshore companies the ability to invest in UK residential property using a new exclusive range of buy to let mortgages.

Offshore companies until now could not use buy to let mortgages to invest in residential property and instead had to use specialised negotiated commercial finance vehicles. Companies would previously have found residential property funding difficult to secure and as offshore finance is expensively priced, the deposit requirement is also high.

Mortgages for Business new offshore buy to let mortgage range includes a 5.99% three year fixed rate with a 15% deposit requirement.

There are often advantages to using an offshore property holding company including relief from capital gains and inheritance tax. Additionally property can be easily transferred to other individuals through shares rather than property transfers.

Mortgages for Business are able to fund offshore companies based in Guernsey, Jersey, The Isle of Man and Gibraltar.

David Whittaker, Managing Director of Mortgages for Business, comments: “Buy to let mortgage pricing has been driven downwards, focusing lenders on cost ratios and using systemised approaches to underwriting. Our new buy to let product range recognises that a “one size fits all” approach precludes offshore limited companies. The new products allow for quality judgements to be made on transactions that fall outside standard buy to let applications.”