3mc trials limited company FHL product
Products span for 2, 3 and 5 years, with the cheapest being a 2-year fix at 4.19% to 65% loan-to-value.
In the summer Budget Chancellor George Osborne announced that from 2017 to 2020 the amount of buy-to-let tax relief landlords can claim back will be cut from 45% to 20% for top rate taxpayers – but landlords who go through limited companies with be exempt.
Doug Hall, 3mc’s managing director, said: “We are delighted to be trialling this new product range for FHL.
“The effect of the Chancellor’s move to restrict tax relief will accelerate the need for more established landlords to look carefully at how they best manage their portfolios in a way that continues to maximise rental yields and minimise costs.
“These products from FHL will provide new options for brokers with landlord clients.”
Paul Brett, business development director at FHL, added: “It was clear from our introducers, even before the Chancellor’s announcement, that a limited company product option would make an important addition to the FHL portfolio.
“We listened and the result is, in my opinion, one of the best offerings in the market.”