The society is focusing on non-trading limited companies that exist solely for buying, selling and letting residential property. It will accept companies with up to four UK based directors or shareholders.

Although expats are excluded, purchasing or remortgaging a UK holiday let on the new limited company products is allowed up to 70% LTV.

Applications with a personal guarantee are available up to 75% LTV while those without are capped at 65%.

The new products are available on a two-year discounted rate and come with a free basic valuation. The interest coverage ratio (ICR) must be at least 125% at 5.5% or 2% above pay rate, whichever is the higher, excluding holiday lets which are based on an annual average income from seasonal rent.

The rates are 3.49% variable (2.26% below SVR) with a guarantee and 3.99% variable (1.76% below SVR) without a guarantee. There is an application fee of £199 and a completion fee of £1,800. Early repayment charge is 2%.

National development manager, Paul Lewis, said the new initiative shows how the Mansfield’s buy-to-let proposition has evolved to meet the diverse and growing needs of mortgage brokers and property investors across the UK

He commented: “Over recent years landlords have been impacted by changes in tax law, with many seeing a considerable reduction in their net income.  As a result, a growing number are now choosing to set-up limited companies to take advantage of the preferential tax treatment.

“Our flexible approach and extensive range of specialist products are becoming increasingly popular.”