The Darlington lifts limited company buy-to-let LTV to 80%

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Darlington Building Society has increased the maximum loan-to-value across its limited company buy-to-let range, extending leverage for landlords using special purpose vehicles.

The society has raised the maximum LTV from 75% to 80%, building on its entry into the limited company buy-to-let market in November last year.

The change reflects rising demand from landlords looking to hold investment property within an SPV structure.

The limited company range continues to include a two-year fixed rate at 5.29% and a five-year fixed rate at 5.39%. Both products are offered with a £999 product fee plus valuation fee.

Products are available for both purchase and remortgage and are open to first-time buyers and first-time landlords. There is no minimum income requirement and no minimum ownership period.

The criteria also allow borrowing for holiday let properties, while applications benefit from access to a non-restricted solicitor panel.

The latest criteria change sits within a broader push into specialist lending by the Darlington Building Society. The society expanded eligibility within its Professionals range for key workers in July and entered the foreign currency mortgage market in August, targeting borrowers with overseas earnings or more complex income profiles.

Chris Blewitt, head of intermediary distribution at Darlington Building Society, said: “Limited company buy-to-let is not new, but the needs of these borrowers have shifted.

“In the past it was largely the space of specialist lenders working with portfolio landlords. We are now seeing more interest from those with smaller holdings and first-time buyers or first-time landlords. This is a space where Darlington has always been strong.

“As a lender that understands individual cases and the profile behind them, we felt the market needed our support now more than ever. Raising LTV to 80% gives brokers an extra tool when helping clients structure their borrowing in a way that suits long term plans.”

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