Fleet Mortgages has introduced a significant overhaul of its criteria for lending to Special Purpose Vehicles (SPVs), as part of its broader support for professional landlords operating through limited company structures.
The buy-to-let lender said the policy changes, effective from 26 June, are designed to accommodate more layered ownership models and varied corporate configurations.
The move follows consistent feedback from intermediaries seeking greater flexibility when working with increasingly complex client structures.
Fleet said the updated policy better reflects the diversity of arrangements presented by brokers on a daily basis, and aligns its lending criteria with the growing sophistication of the limited company market.
The lender has updated its guidance materials to include examples of which company structures are now acceptable and which remain outside its criteria. Advisers are being encouraged to consult their local business development manager for tailored support, and full documentation is available on the Fleet Mortgages website.
The changes come just a day after the lender announced rate reductions of 5 and 10 basis points on selected five-year fixed products at 55%, 65% and 75% loan-to-value for limited company borrowers. Fleet also unveiled a £1,000 cashback incentive on its 55% LTV range.
Steve Cox, chief commercial officer at Fleet Mortgages, said the new criteria were a direct response to the evolution of landlord borrowing strategies.
“We know that a growing number of landlords are using limited company structures both to hold and grow their portfolios,” he said.
“These structures offer tax advantages, better succession planning, and greater control over portfolio management. But as these structures become more sophisticated, it’s vital lenders move with the market.
“That’s exactly what we’re doing with these changes. By expanding our criteria to accommodate more complex group structures, we’re providing advisers with more lending options to serve their clients, making it easier for professional landlords to secure the finance they need.
“This is not just a technical criteria update, it’s a reflection of our commitment to staying aligned with real-world company practices and ensuring Fleet remains a trusted, forward-thinking partner for advisers working with limited company landlord borrowers.”
