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First-time landlords remortgage self-built house via trading Ltd Co

First-time landlords remortgage self-built house via trading Ltd Co

A married couple approached their broker looking to remortgage a self-built, 4-bed house in Hampshire.

The couple had established a trading property development company in the early 2000s and had since been house-building and developing property to sell on.

After speaking with their accountant, the couple had decided to alter their business strategy and rent out one of their most recently developed homes.

Although the house was unencumbered, the couple wanted to refinance it on to a buy to let mortgage to raise capital for future investments.

The broker approached a BDM at Keystone, as he needed a lender which would accept:

  • First-time landlords

  • Trading limited companies

  • New build houses

The BDM explained the situation to Keystone’s underwriters who took the view that the couple, their business and the property in question were a good risk.


The following terms were offered:

Property value: £750,000

Loan amount: £400,000

LTV: 53%

Rate: 3.99% 5 year fixed

Term20 years interest only

RTI calculation: 125% @ 3.99%

ProductClassic Range

BorrowerTrading Ltd Co

Lender arrangement fee2% (£8,000)     

Mortgage payment£1,330 pcm

Rental income£2,000 pcm

Gross yield6% pa

Broker proc fee: 0.6% (£2,400)


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