BTL mortgage for Ltd company with overseas Directors

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    BTL mortgage for Ltd company with overseas Directors


    I´m considering expanding my BTL portfolio and the Ltd company structure seems to make sense to me, however the complication is that I currently don´t live in the UK anymore. I´ve had a look around at lenders but they all seem to require that the Directors are current UK residents, or were a few years ago. Is anyone aware of lender which doesn´t have this requirement?


    As I am sure you are aware , Lenders require Directors to provide Personal Guarantees as well as taking a charge of the property, furthermore should there be any shareholders in the background with shareholdings of 20% plus , they too would be required to provide Personal Guarantees. By default any person domiciled overseas would not be considered to be suitable borrowers even if their credit credentials are impeccable because of the greatest difficulties in enforcing the PG's.


      Thanks, I´m aware of the requirements. We have UK based assets where a charge could be put on so I´m pretty confident we could meet the other requirements, its just the residency.


        Can you please indicate whether you are a UK citizen classed as an ExPat and if so what country are you domiciled in , I ask this as there are certain countries which are not acceptable when it comes to financial data being obtained , this does not cast aspersions on the integrity of the applicant but there is a list of countries which preclude being considered where a person is seeking UK funding. If you wish to disclose I will gladly and without obligation speak to a few lenders to determine policy.


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