Coventry for intermediaries has launched its first ever range of limited company buy-to-let mortgages.
The new products are available for both purchase and remortgage applications and are aimed at landlords operating through a limited company structure, a model that continues to gain traction due to its tax and portfolio management benefits.
Applications will be processed through the lender’s MSO platform, which allows brokers to track and amend cases more efficiently. Up to four directors or shareholders can be named on each application, and clients will benefit from access to a panel of over 200 solicitors. Coventry’s Remortgage Transfer Service is also available, aimed at streamlining refinancing cases.
The launch is accompanied by several changes to lending criteria. The society has increased its maximum lending exposure from £2m to £2.5m, now allows landlords to hold up to seven properties with the society, and has raised its total portfolio limit to 15 properties.
Kevin Purvey, director of mortgage distribution at Coventry Building Society, said: “As a trusted brand in the buy-to-let sector, moving into limited company lending is a natural step for us. Our proposition makes it easier for landlords to structure their businesses in a way that works for them, while also giving brokers the tools they need to provide the best possible service to clients.
“The rental market remains a vital part of the housing sector, and landlords need the right support to continue providing good-quality homes to those looking to rent. By offering limited company buy-to-let mortgages with flexible criteria, we’re helping brokers, landlords, and ultimately the tenants who rely on a strong and stable rental market.”
