The lender will now accept limited company buy-to-let purchase applications, where the company is purchasing a property that is currently owned and lived in by one of its directors. 

This is similar to let-to-buy transactions for standard BTL cases. The Mortgage Works’ existing limited company product range will be available to these applicants.   

The Mortgage Works senior manager, BTL mortgages, Joe Avarice says: “The Mortgage Works is one of the largest BTL providers in the market and we remain committed to supporting all types of landlords.” 

He said this change to the proposition was in response to feedback from landlords and brokers. 

Dynamo sales and operations director Tony Field welcomed the change, which allows customers to purchase their residential home within a limited company structure to use as a BTL.  

Field says: “This could offer a route to enter the BTL market for first-timers, or indeed allow landlords to expand their portfolio.