The Mortgage Works to accept intercompany loans as a deposit
The change will offer further flexibility to landlords who choose to finance their portfolio through a limited company.
"We understand the challenges limited company landlords face and know this new policy will provide greater flexibility and opportunity for them."
- Damian Thompson, director of landlord at The Mortgage Works
The Mortgage Works will now accept intercompany loans as a deposit option for buy-to-let mortgage applications from limited company landlords.
TMW says the change has been made in response to feedback from the broker community and will make financing more accessible for limited company landlords by expanding their deposit options.
The buy-to-let lending arm of Nationwide has also launched a modernised rebrand, which it says reflects "the evolving needs of the industry".
Damian Thompson, director of landlord at The Mortgage Works, said: “Accepting intercompany loans as a deposit is a prime example of how we listen and act on the feedback we get from the broker community. We understand the challenges limited company landlords face and know this new policy will provide greater flexibility and opportunity for them.
“Our modernised brand reinforces The Mortgage Works’ overarching aim to support our valued landlords and brokers as we look to be a beacon for mutual good by playing a leading role in creating a stronger, fairer private rented sector."
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