The lender said this would enable flexibility for landlords who structure their property portfolios across more than one limited company.
This follows recent changes made by TMW, including changes to its foreign national policy, where it shortened the minimum visa validity remaining without Indefinite Leave to Remain from 30 to 12 months and aligned acceptable visa types with Nationwide.
Dan Clinton, head of buy-to-let (BTL) mortgages at TMW, said: “Landlords increasingly need greater flexibility in how they structure and manage their property portfolios, and this change gives them exactly that. We’re giving limited company landlords more choice over how they organise their investments and plan for the future.
“Together with our changes for foreign national applicants, these enhancements demonstrate our ongoing commitment to strengthening our proposition to meet the needs of today’s landlords.”
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Saffron restores 75% LTV limited company BTL and cuts resi rates
Saffron Building Society has reintroduced its five-year fixed rate for limited company BTL borrowers up to 75% loan to value (LTV).
The product has a rate of 6.27% with a £2,500 arrangement fee.
It has also added deals at a new 55% LTV tier, including a limited company BTL product with a £2,500 arrangement fee and rate of 6.07%.
The corresponding products for expat BTL and expat limited company BTL both have rates of 6.27%, while the standard BTL product with a £1,999 arrangement fee is priced at 6.17%.
Saffron Building Society has also made changes on the residential side, with reductions of 0.2% to four deals.
The two-year fix at 80% LTV has been cut to 5.67% and the five-year fix to 5.77%, both with a £1,999 arrangement fee.
At 90% LTV, the two- and five-year fixes with a £999 fee have both been reduced to 6.07%.
All products have a free valuation.
The mutual has also launched a two-year discounted rate mortgage to its residential range with a rate of 4.99%, available up to 80% LTV with a £1,999 fee and free valuation. It is priced three percentage points below Saffron Building Society’s standard variable rate (SVR).
Saffron Building Society has also reintroduced its Premier Income product with loans up to £5m and no maximum loan to income cap for borrowers earning more than £150,000, subject to individual affordability assessments.
The two-year fix within the range is priced at 6.37% and the five-year fix at 6.47%, both available up to 80% LTV with a £1,495 fee.
Tony Hall, head of sales at Saffron for Intermediaries, said: “For a landlord borrowing through a limited company, the amount of equity they need to put into a property is a significant part of the financing decision. Restoring our 75% LTV option gives brokers another route to consider for clients who want to retain more of their capital.
“The residential rate reductions and return of Premier Income also widen the options brokers can explore with us, whether their client needs a straightforward mortgage or a more individual assessment of their income.”
He added: “A client’s circumstances can span several product categories. A landlord living overseas may also want to borrow through a limited company, for example. We encourage brokers to talk to us about cases involving multiple complexities, so we can consider the circumstances together and establish how we might help.”
