"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"
- Darrell Walker - ModaMortgages
Specialist lender ModaMortgages has announced that it will now accept applications from landlords operating through simple layered limited company structures.
The new offering is designed for landlords whose structures typically involve a special purpose vehicle (SPV) linked to one other company.
Applicants must collectively hold at least 75% of the shareholding across both the SPV and linked company, with a maximum of four directors or shareholders allowed.
For landlords with more complex, layered limited company requirements, CHL Mortgages for Intermediaries, another member of the Chetwood Bank family, will continue to provide support.
Darrell Walker, group sales director at ModaMortgages (pictured), 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.”
The move reflects ModaMortgages’ effort to respond to growing demand from brokers and landlords for simpler corporate structures while maintaining access to buy-to-let financing. By widening eligibility, the lender aims to streamline the application process for a wider segment of the market.
