The Mortgage Works has updated its criteria for company landlords by removing the need for all mortgage applicants to be directors.

The lender now accepts applications where one applicant is only a shareholder, who owns at least 20% of the shares in the company.

The change comes after feedback from brokers and demand from landlords.

The Mortgage Works director of landlord Damian Thompson says: “We are making this change to address the ever-evolving needs of limited company landlords and their requirements on company structures.”

“The Mortgage Works has been supporting the limited company buy-to-let market since 2018, and this latest enhancement is another example of our continued commitment to the market.”