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Limited Co applications on the increase

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Limited company applications made up 43 per cent of its buy-to-let cases in January, according to data from broker Mortgages for Business.

These applications are up 5 per cent on December 2015’s 38 per cent.

Mortgages for Business managing director David Whittaker says: “Landlords have woken up to the fact that transacting via a corporate vehicle is a feasible option and in many cases, the most prudent route going forward.

“I wouldn’t be surprised if the percentage continues to rise as landlords, especially the higher tax rate-paying ones, prepare for the forthcoming changes to relief on finance costs.”

The firm says the total number of buy-to-let mortgage applications rose 27 per cent in January compared to December 2015.

Whittaker says: “The increase is due to landlords trying to get as many purchases as they can completed before the stamp duty surcharge comes into effect on 1st April, after which I would expect transactions to return to more considered levels.”

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