SIC Codes for SPV Buy to Let Mortgages

What are SIC codes?

Limited companies need to be registered at Companies House. When registering a limited company the person who registers the company can choose one or more SIC codes. SIC stands for Standard Industrial Classication. There are hundreds of different codes covering all types of industries and services. This short post will explain which SIC codes are recommended for registered an SPV for a BTL limited company.

Different lenders ask for different SIC codes than each other. However generally as long as you have atleast one of the SIC codes as per below then most mortgage lenders should be OK.

The SIC codes suggested:

68100 – BUYING AND SELLING OF OWN REAL ESTATE68209 – OTHER LETTING AND OPERATING OF OWN OR LEASED REAL ESTATE68201 – RENTING AND OPERATING OF HOUSING ASSOCIATION REAL ESTATE68320 – MANAGEMENT OF REAL ESTATE

Generally as long as you have the above SIC codes registered for your S…

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What amount of fees do mortgage brokers charge?

When using a mortgage broker most will usually charge a fee. There are however some brokers that don't charge a broker fee at all. However the service you get and amount of involvement you get throughout a mortgage application will vary from broker to broker. Paying a fee doesn't necessarily mean that you will get a better service however we have typically found that brokers who do charge fees treat their business seriously and are committed to helping their clients. 

Brokers that don't charge fees often treat their businesses as a part time business and are happy to perhaps work part time or work flexible hours around their family needs. 

There are also a few national mortgage broker companies who have carved their niches and build strong brands around the fact that they never charge a fee. 

How brokers charge fees? Fees can be charged at several different parts of the process. Fee charged on decision in principle - some b…
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