The mortgage project has updated the standards for the company’s landlord by eliminating the need for all mortgage applicants to be directors.
The lender now accepts applications from the applicant who is only a shareholder, who owns at least 20% of the company.
Changes were made after the broker’s feedback and the landlord’s needs.
“We are making this change to meet the growing needs of the limited company’s landlords and their requirements for the company’s structure,” said Damian Thompson, director of mortgage factory.
“The mortgage efforts have been supporting limited companies to buy markets since 2018, and this latest enhancement is another example of our ongoing commitment to the market.”
