Specialist lender ModaMortgages has revealed that it is now accepting simple layered limited company applications.
The lender’s latest product is aimed at landlords using a limited company set-up, typically a special purpose vehicle (SPV) linked to one other company.
Directors and shareholders must hold at least 75% shareholding across both companies, with a maximum of four applicants allowed.
CHL Mortgages for Intermediaries will continue to handle more complex layered company cases.
Darrell Walker, group sales director at ModaMortgages, said: “This latest expansion to our criteria shows how committed we are to meeting the evolving needs of landlords in the ever-changing specialist buy to let space.
“We’re introducing this criteria enhancement after listening to feedback from brokers who told us they were receiving more requests for simple layered limited companies from their clients.
“By providing a simple layered limited company offering solution, we can now provide more comprehensive support to landlords looking for alternative ways to structure their buy to let holdings.”
