.svg&w=256&q=75&dpl=dpl_2SxT7C75H56Xb8sbYiFEfVySMYiY){kind=small}
The Mortgage Works (TMW), a leading buy-to-let lender, has announced significant changes to its lending criteria, easing rules to broaden access for landlords seeking finance. These updates aim to respond directly to landlord demand and valuable insights from mortgage brokers.
A key change is the removal of the requirement for all mortgage applicants to hold directorships within their company. Now, applications will be accepted from shareholders who own at least 20% of the company's shares. This adjustment simplifies the application process for a wider range of company structures.
For more on this topic, see our guide to HMO Mortgage: Your Path to Higher Rental Yields.
For more on this topic, see our guide to Step-by-Step Guide to Renew HMO Licence Successfully.
Key Benefits
Furthermore, TMW has made a crucial decision to permit intercompany loans as acceptable deposit sources for buy-to-let applications. This provides additional flexibility for corporate landlords in structuring their finances and acquiring investment properties.
For more on this topic, see our guide to HMO Rules & Regulations: What Every Landlord Must Know.
For more on this topic, see our guide to HMO Rules & Regulations: What Every Landlord Must Know.
These rule adjustments by TMW underscore its commitment to supporting professional landlords and adapting its offerings to better suit the diverse needs of the buy-to-let market.