Ltd Company BTL Portfolio Strategy - Singapore-Resident Couple, 6 Properties in 3 Years
£1,370,000 debt · 64% blended LTV · 5.10% fixed 5yr refinance. A married couple working in Singapore who built a six-property Ltd Co BTL portfolio over three years, now refinancing the first two.
The Client
Married couple, both British nationals. Both working in Singapore - technology and finance sectors.
The Challenge
On combined income of SGD 580,000 pa (both employed and both included in mortgage assessments), the couple had built 6 BTL properties over 3 years via a Ltd Co SPV, with 3 in Manchester, 2 in Birmingham and 1 in Sheffield. The current requirement was to refinance the first two Manchester properties onto better rates as their fixed terms were expiring. This is an ongoing relationship case illustrating a full expat portfolio-building strategy.
Our Solution
Doulton established a clear strategy with the couple at the outset: (1) Ltd Co SPV structure for all purchases for a better tax position for higher-rate taxpayers abroad; (2) specialist expat BTL lenders on all deals rather than UK-resident lenders that would decline; (3) portfolio ICR testing at each new purchase to confirm future headroom. The two Manchester refinances were placed with the same portfolio lender used for the original purchases, maintaining the relationship and securing a competitive rate.
The Outcome
Two Manchester properties refinanced at 5.10% fixed 5 years (down from the 5.85% original purchase rate). The portfolio now generates £7,840 pm gross rent across all 6 properties, with an annual net yield of 5.2% after costs. Portfolio valuation £2,140,000 and outstanding mortgages £1,370,000 (64% blended LTV). Key highlights: Ltd Co SPV strategy implemented from the first purchase; consistent specialist expat lender panel throughout; portfolio ICR headroom maintained at every stage; refinance rate materially below the original purchase rate.
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