LTD Company BTL SIC Codes Requirements

A Standard Industrial Classification (SIC) code is a way of describing a company’s main business activity at Companies House.

Those codes matter in buy-to-let lending; an SPV BTL Company can only do those activities, and a Trading BTL Company is hard to obtain finance for.

For landlords using a limited company structure, getting the SIC code right avoids delays, paperwork and explanations to mortgage lenders. Doing any other activity other than (68209) letting, (68100) buying & selling and (68320) manging own properties often results in a declined mortgage.

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Limited company buy-to-let SIC codes

What is a SIC code?

A SIC code is a five-digit number that classifies a business's nature at Companies House.

In a mortgage application, the SIC code is one piece of information used to understand what the company is set up to do. It can influence how the lender categorises the business model and the associated risk.

Companies can hold more than one SIC code, but adding unnecessary business activities can result in a mortgage decline.

Why SIC codes matter for buy-to-let company mortgages

For buy-to-let landlords, the key point is that lenders want the company’s profile to be consistent and understandable.

Lenders like Special Purpose Vehicle (SPV) companies; the special purpose is to buy and rent out property. They don't want to see other SIC codes for window cleaning, IT management, farm consulting, or whatever. The business activity is renting and the SIC code should reflect that.

The SIC code indicates whether the company is set up for property investment/letting or trading activities. Lenders like Special Purpose Vehicle (SPV) companies; the special purpose is to buy and rent out property. They don't want to see other trading activity codes.

SIC codes commonly used for property investment companies

There are many SIC codes available. The examples below are commonly seen in property investment and landlord limited company structures, but the “right” code depends on the company’s actual activities.

68209: Other letting and operating of own or leased real estate. This is often used where a company buys and holds property to generate rental income.
68100: Buying and selling of own real estate. This is more commonly associated with companies that acquire property with the intention of resale.

Often, also accepted:

68320: Management of real estate on a fee or contract basis. This is typically associated with property management activity, such as managing properties on behalf of others for a fee.
68310: Real estate agencies. This code is generally linked to agency activity, such as sourcing properties or acting as an intermediary.

SPV BTL Company vs Trading BTL Company

A common theme in buy-to-let lending is the distinction between:

Property investment (often SPV-style): focused on holding property and receiving rental income.
Trading activity: focused on buying and selling, development, or other commercial trading models.

While lenders look at the full picture, the SIC code is one signal they use to understand which category the company appears to fall into.

We can get BTL mortgages for Trading Companies, but the number of mortgage lenders that facilitate that is severely reduced.

Can a company have more than one SIC code?

Yes. A company can register multiple SIC codes. However, it’s generally best to keep the selection relevant and coherent.

Adding codes that don’t reflect the company’s real purpose can create confusion and declined mortgages.

Common SIC code mistakes to avoid

SIC codes are easy to get wrong if they’re treated as a one-off admin task. Issues that can cause delays or questions include:

Using a code that reflects resale/trading when the strategy is long-term rental income.
Choosing a management/agency code for a company that only lets out its own properties.
Thinking an SPV can do other trading activities, and is not limited to renting.

How to approach SIC codes when setting up or refinancing

A sensible approach is to:

Confirm the company’s main purpose (letting and holding vs trading vs management services).
Ensure the SIC code(s) are consistent with the intended strategy.

If you’re unsure, speak to our brokers for guidance on how your company structure and documentation may be viewed by lenders.

Authoritative reference: Companies House guidance on SIC codes