Nov

Some of the best BTL lenders post BICT incorporation

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Landlords who incorporated their rental property business using the BICT structure did so in order to retain their competitive mortgages terms and avoid or defer the costs of refinancing. However, it is almost inevitable that refinancingÂ will need toÂ be considered at some point for the following reasons:-

Exiting mortgage term coming to an end
A desire to lock into the certainty of fixed rates
Capital raising to repay Directors/Shareholders loans
Raising deposits towards the funding of further properties
Advantageous affordability criteria for Limited company lending due to Section 24 and PRA lending rules affecting personal BTL borrowing

State Bank of India is offering a rate of 3.59% fixed for five years.

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