November 2023: As the number of buy to let mortgages taken in a limited company structure rises, and property values fall, Purbeck Personal Guarantee Insurance, has launched the first personal guarantee insurance protection for Professional Landlords.
In a development that has sent ripples through the financial industry, the Bank of England recently implemented a freeze on interest rates, marking the first time in two years that the rates have remained unchanged. This measured approach comes as the Bank of England continues to stabilise the economy.
Topics: buy to let mortgages uk
October 2023: As Buy to Let mortgage rates start to fall and the number of landlords securing limited company buy to let mortgages rise, Purbeck Personal Guarantee Insurance is warning Professional Landlords to keep their eyes wide open over the risks of personal guarantees as a condition of the mortgage. Purbeck’s analysis shows the average Limited Company Buy to Let Mortgage was £948k in 2022. So far in 2023, the average Buy to Let Mortgage has shrunk to £895k based on Purbeck’s data.
Topics: #personalguarantee
2023 has been a tough year for UK businesses, particularly SMEs, who have had to navigate treacherous economic waters.
Business buy-to-let mortgages provide an excellent opportunity for businesses to invest in commercial property, whether to be let to a third party or to be used as premises to trade from.
Investing in your business through a buy-to-let mortgage can offer substantial rewards, helping you to secure commercial property to expand your operations or gain profit through letting to a third party. However, it’s essential to be informed and prepared for the potential risks.
Topics: buy to let
A personal guarantee is a pretty serious commitment, but it’s not one to shy away from.
For the last three years, UK businesses of all sizes and sectors have experienced significant financial challenges.
Applications for Personal Guarantee Insurance Down 13%
For more information or to speak to one of our underwriters contact us today.
Purbeck Insurance Services is a trading name of Purbeck UK Limited which is a company registered in England and Wales under company number 10345620 and has its registered office at 20 - 22 Wenlock Road, London, N1 7GU Purbeck UK Limited is authorised and regulated by the Financial Conduct Authority. Firm permissions can be obtained from the FCA register. Purbeck UK Limited is a Managing General Agent and has binding authority to enter into and administer contracts of insurance on behalf of Markel International Insurance Company Limited.
