Kent Reliance, the specialist mortgage lender, announces that from today it will lend to clients who are looking to borrow through a Limited Liability Partnership (LLP). This includes borrowers who wish to switch a BTL asset from an Individual name into an LLP.
Providing loans to non-trading LLPs is now part of its standard lending policy and new applications will be subject to the following requirements being satisfied:
- Personal Guarantees for 100% of the loan provided by all LLP members;
- Evidence the Company is non-trading
Adrian Moloney, Sales Director for OneSavings Bank, comments: “Following the Chancellor’s recent changes we introduced products designed specifically for property investors who were moving their investments into a limited company. We are very pleased that we can now extend the same proposition to support LLPs.”
Borrowers are urged to seek professional advice from a suitably qualified professional prior to entering into any transaction.
Please refer to www.krfi.co.uk for information on this new policy.