New Build BTL Through Limited Company - Off-Plan Purchase in Manchester
£285,000 · 25 years · 5.79% fixed 5 yrs. A property investor had reserved an off-plan apartment in a Manchester city centre development through his limited company.
The Client
Property investor
The Challenge
A property investor had reserved an off-plan apartment in a Manchester city centre development through his limited company. New build limited company BTL mortgages have their own complexity - mortgage offers typically have a six-month validity and off-plan completions can slip. Careful lender selection and proactive management was needed.
Our Solution
Doulton identified a limited company BTL lender with a new build mortgage offer valid for twelve months - double the standard period - providing a buffer for potential build programme delays. The application was submitted at the appropriate stage of construction. An extension was ultimately not needed, but the longer offer period provided peace of mind.
The Outcome
Apartment completed on programme and mortgage drawn down without complications. Immediately tenanted to a Manchester professional on a 12-month AST. Gross yield: 6.1% on purchase price in a city centre location. Key highlights: 12-month new build mortgage offer - double standard period; Limited company structure maintained throughout; Tenanted immediately on completion - 6.1% gross yield.