Property group launches a build-to-let service for small landlords
PUBLISHED: 13:05 26 March 2019
Brent Knoll based property group, Jenner, are launching a build-to-let service for smaller landlords wanting to increase their portfolio.
Brent Knoll based property group, Jenner, are launching a build-to-let service for smaller landlords wanting to increase their portfolio using single purpose vehicles/limited companies.
To an investor the benefits are significant – they do not incur the stamp duty surcharge, they get to keep the developers profit margin and they get a brand new property built to be rented.
Group Director, Mark Warren, explains why the group have decided to launch the build-to-let service: “We have seen a lot of enquiries from both landlords and investors who want to be involved but had a limited amount of funds available.
“We already have a number of sites suitable for build-to-let and are working on a number of others through our planning side. It was clear this could be a win, win situation with all parties benefitting from working together.”
In a nutshell Jenner will buy sites for eight-12 houses and then sell on serviced sites to landlords on the understanding that Jenner will arrange the development finance and build the units.
At completion their mortgage broking arm can arrange Limited Company Buy-to-Let mortgages which repay the development finance and can release equity to allow an investor to buy more sites.
“As a group we are giving up the developers profit but are still being paid for finding, funding and building. The landlord/investor gets new houses and avoids the changes in personal buy-to-let taxation. The public benefit because we are increasing the stock of available rental properties.”
Spaces are limited but if you are a property investor with £100,000 available please call Mark Warren for more details on 07802 986778.