An estimated 96% of brokers expect to write more limited company business in 2022, according to a webinar poll conducted by CHL Mortgages.
When asked how much limited company buy-to-let (BTL) business brokers are currently writing, 69% said they were writing one to five cases a month, 25% were writing none, and only 6% were writing more than five cases a month.
Looking to the challenges facing brokers when placing limited company business, 59% cited a lack of knowledge around limited companies, 46% said structure and shareholding, 28% highlighted conveyancers and 20% pointed to independent legal advice for shareholders.
CHL Mortgages adds new LTV bands
Ross Turrell, commercial director of CHL Mortgages, said: “Awareness around the benefits attached to limited company lending has risen greatly in recent times and it’s important for brokers to realise that lenders are always on hand to help them and their clients overcome a host of challenges and provide solutions to meet this growing demand.
“In addition, it could be beneficial for intermediaries to connect with accountants [or] tax advisers and solicitors as they can offer real expertise on things such as limited company set ups, tax positions and property structures, particularly regarding leasehold issues.
“From a CHL perspective, we are certainly seeing heightened interest from intermediaries and landlords when it comes to utilising limited company options and borrowing facilities.”