TMW enhances limited company buy-to-let criteria

The Mortgage Works has boosted its support for limited company landlords by removing the need for all mortgage applicants to be directors.

This means that The Mortgage Works now accepts applications where one applicant is only a shareholder, who owns at least 20% of the shares in the company.

The change follows the demand The Mortgage Works has seen from landlords as well as feedback from brokers.

The changes comes after TMW 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.”