ModaMortgages has introduced it is now accepting simple layered limited firm purposes.
The lender’s new providing is aimed toward landlords who function by means of a limited firm construction sometimes consisting of a particular function automobile (SPV) linked to 1 different firm.
The director(s) and shareholder(s) should collectively maintain a minimal of 75% shareholding throughout each the SPV and linked firm, limited to a most of 4 candidates.
ModaMortgages group gross sales director Darrell Walker says: “This newest enlargement to our standards exhibits how dedicated we’re to assembly the evolving wants of landlords within the ever-changing specialist purchase to let house.”
“We’re introducing this standards enhancement after listening to suggestions from brokers who advised us they have been receiving extra requests for simple layered limited companies from their purchasers.”
“By offering a simple layered limited firm providing answer, we will now present extra complete help to landlords on the lookout for other ways to construction their purchase to let holdings.”
