Landlords can use the investment platform whether they choose to invest through firms or in their personal name
Property investment platform GetGround has widened its service to the whole of the UK BTL market, so all landlords can use its service.
Landlords can use the investment platform whether they choose to invest through firms or in their personal name.
Data from Hamptons shows that while limited company investment is on the rise, accounting for 74% of new investment properties bought in autumn 2023, there are still nearly 2.8 million landlords in the UK whose property investments are held in personal names.
GetGround said it was expanding its investment platform to reach these 2.8 million private landlords and to help them see the benefits of a different kind of investment experience.
The firm widened its investment platform to existing limited companies in May this year.
Personal ownership landlords will not be eligible for tax and accounting services that limited company investors can access, but they can use its wallet services.
Users can receive rental income, make mortgage, bill and maintenance payments through a single account and track rent and categorise expenses to simplify bookkeeping. They can also optimise investment performance with tailored property insights.
New customers receive a £50 welcome bonus after setting up their wallet.
All landlords can use its investment pots and full suite of services that support landlords in finding, financing, managing and selling their properties through one platform.
Moubin Faizullah Khan, co-founder and CEO of GetGround, said: The landscape for being a BTL landlord has never been more treacherous. Margins are squeezed and, assuming the rumours are true, the new government is readying a series of tax changes that’ll make property investing harder to do well than ever.
At GetGround, we are lifelong advocates for limited company investing, but not to the detriment of the health and buoyancy of the overall BTL market. By helping any and all investors in UK property join our platform, we can help reduce some of the costs, pressure, time and effort that are weighing heavily on private landlords’ shoulders.
Keeping landlords motivated to stay in the market and do the best for their tenants is pivotal to maintaining a robust private rental sector, he said.
Personal ownership landlords do not need to convert to limited company investments once they join the platform, but the firm said that it hopes the more they use the platform, the “more familiar” they become with the “advantages of incorporated investing”.
