This means that The Mortgage Works now accepts applications where one applicant is only a shareholder, who owns at least 20 per cent of the shares in the company.
The lender recently also started to accept intercompany loans as a deposit option for buy-to-let mortgage applications from limited company landlords.
Damian Thompson, director of landlord at The Mortgage Works, said: “We are making this change to address the ever-evolving needs of limited company landlords and their requirements on company structures. The Mortgage Works has been supporting the limited company buy-to-let market since 2018, and this latest enhancement is another example of our continued commitment to the market. It’s also a perfect demonstration of how we continue to listen to and act on feedback we receive from both landlords and brokers.”
Jessica Folkes, Head of Mortgage Sales at Dynamo, said: “This is a great development, which further strengthens The Mortgage Works’ already strong proposition. Limited company landlords continue to expand their presence in the buy-to-let sector and it's great to see lenders supporting landlords and refining their criteria to meet evolving needs.”
