In the limited company range, a total of 10 properties can be held directly with The Cambridge or have a maximum value of £4m.
There is no limit on the number of properties in the background portfolio and directors; guarantees will be taken against each mortgage property.
Borrowers can secure up to 80% of a property’s value, up to four applicants and a maximum loan size of £1m.
There will be three different five-year fixed rates that are stressed at the pay rate with an income coverage ratio (ICR) of 125%.
The limited company proposition will complement the lender’s existing BTL range, which covers holiday let, expats and portfolio landlords.
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Kathy Bowes, intermediary manager at The Cambridge, said: “With more landlords choosing to use limited companies for buy-to-let purchases, it was important for us to expand our offering.
“This new proposition will help our intermediary partners to meet developing customer needs and provide greater choice in today’s evolving market.
“In addition, we also recently announced changes to our criteria to remove the maximum height limit on blocks of flats built after January 2020 to further enhance our overall BTL proposition.”
Recent research from Moneyfacts found that choice and pricing for limited company deals is improving. More lenders have recently entered the space including Coventry Building Society and BM Solutions.
