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Mortgage to Co, some shares held by trust. High floor.


rftedin

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Can someone help? First time post!!

 

I am looking to buy off plan in Manchester. Apartment is on 19th floor. Will be buying through a Co and some shares in the Company will be owned by a trust. 

 

So far lenders are saying no to the trust. Finally found one that was comfortable with the trust but they said no to the high floor. 

 

Does anyone know of a broker/lender that would be comfortable with this kind of purchase/purchase vehicle??

 

Many thanks for any help in advance.

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  • 2 weeks later...

The 19th floor is not considered suitable security by many BTL lenders, especially the ones who lend to limited companies. Shares in trust make it worse. Remember the fewer lenders in the market reduce your remortgage and resale options and tend to come with an increased rate. 

Regards Simon

Searchlight Finance Ltd

T:01565 654005

 

Landlord and specialist property finance advisor only dealing with investors, landlords and developers throughout the UK and beyond.

Buy to Let - Commercial Finance - Bridging Loans - Development Finance - HMO Finance - Refurbishment Loans - Multi Let - Limited Company - Student Lets - Portfolio Finance

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