GetGround launches major summer deal to lend landlords a hand as stamp duty holiday tapers off
GetGround, a digital platform that combines Buy-To-Let (BTL) company formation, management and current accounts, has launched a limited period summer deal to make more investors and landlords aware of the benefits of BTL investing through companies, and help them through the buying process before the stamp duty holiday ends for good.
Until 30 September, UK landlords and investors that form their first or second company on GetGround will be charged a discounted formation fee of GBP99 (plus VAT). This includes formation, legal documents, structuring and a current account.
Any GetGround customer forming their third or any subsequent companies on the platform will, as normal, have all formation fees waived. With GetGround, customers only ever pay to form their first two companies. All further company formations are free.
Moubin Faizullah Khan, Co-Founder & CEO at GetGround, says: “We think every BTL investor and landlord should be investing in BTL through companies versus personal ownership. It makes better business sense on practically every level. That’s why three-in-five BTL investments are now made through companies, versus less than one-in-five only five years ago.
“The market for BTL purchases is guaranteed to be busy in these final weeks before the stamp duty holiday ends for everyone. This is an ideal time to reach those investors and landlords that don’t realise that company BTL is a far better way of investing than through personal ownership, and to reach those who are on board with company BTL but are looking for a faster, easier and more streamlined way to do it.”
The process to create companies on GetGround’s platform can be as much as ten times faster than through a traditional formation agency route. The cost of GetGround’s services to manage companies on the platform can be ten times less than alternative options.
Since launching in early 2020, GetGround has grown fast through word-of-mouth referral and partnerships with a range of intermediaries, advisers and developers. The platform expects the accumulative value of properties it manages to exceed GBP1 billion within the coming months.
During this period, all referral fees to partners will remain unaffected.
This news follows the recent announcement of an industry-first partnership with Molo, the digital BTL lender, that helps customers to form a company, open a current account and secure mortgage finance all within the same single process.