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Showing results for tags 'personal guarantee'.
As you may know, when buying a property in an SPV Limited Company, the directors and shareholders are frequently required to sign personal guarantees. The personal guarantee requirement is compulsory, except in exceptional cases where the Loan to Value (LTV) is very low. A personal guarantee is a backstop - if the asset depreciates or missed payments. The lender has the equity (minimum 15% Deposit) as a safety buffer first. After that, they will ask you to repay any losses personally. In recent times the buy-to-let mortgage market has seen a significant switch in how landlords b
Hi, I bought a BTL property last year via an SPV and paid £500 + VAT for independent legal advice for the personal guarantee. I'm now on BTL no.2 and would absolutely love to avoid being robbed at daylight this time round! Can anyone suggest and London based solicitors (or national ones offering the service via Skype) that can give advice at a reasonable price? Thanks
Is it possible for nonresidents to secure finance in LTD structures without having personal guarantees witnessed and signed? After 10 years of procrastinating on finally going to spend some of my rental income and travel Asia, however this presents a problem when trying to maintain growth as the funding partner of JV SPV for flips – as: anyone with 25%+ shareholding is required to have a personal guarantee witnessed and signed power of attorney not accepted by some lenders, preventing someone I authorise to fulfil this role even if I am a creditor of the company, I will