More choice for landlords as we launch our Limited Company Buy to Let range
We’ve launched a new range of Buy to Let mortgages for landlords operating as a limited company.
In addition to the new products, we’ve created a new bespoke application system for Limited Company Buy to Let and have expanded our specialist underwriting team to offer dedicated support.
The new range is intended to complement our existing product offering for this sector.
“We’ve seen a definite trend over the past few years for more landlords to choose to buy, own and let their properties through a limited company structure, rather than as a private individual,” said Martese Carton, Leeds Building Society’s Director of Mortgage Distribution.
“Many of the regulatory and taxation changes affecting the private rented sector in the past decade were intended to drive more professionalism among landlords.
“We want to be able to support our intermediary partners as they seek to give their clients the best advice and efficient service in this changing market.
“Building on the Society’s ongoing technology platform upgrades, we’ve added ‘Mortgage Extra’, a bespoke new system to make the application process quick and simple, with a dashboard for brokers to easily view and track their cases’ progress.
“We’re well known for our specialist underwriting expertise, so have expanded our service with dedicated underwriters to assist brokers with queries about Limited Company lending.”
Our new Limited Company range offers a choice of LTV tiers, with two and five year fixed rate mortgages at 75% and 80% LTV.
These include a two year fixed rate deal at 6.59% up to 75% LTV, with a £999 fee.
The new range comes with a choice of product fees, and lending criteria are aligned broadly to those in the market. The maximum loan term is 40 years and there is no maximum age.