Paragon Mortgages has updated its lending criteria for limited company landlords in the wake of recent Government announcements on tax relief changes.
The specialist buy-to-let mortgage provider has removed the exclusivity borrowing restriction for limited company landlords, meaning they can make best use of holding their properties in a corporate structure.
This follows Paragon’s research, published yesterday, showing that more than two out of five landlords are moving their buy-to-let portfolios into corporate structures ahead of forthcoming tax changes
John Heron, director of mortgages at Paragon, said: “We know from our latest research there are an increasing number of landlords looking into whether to incorporate, some 41% were at least considering whether to do this in Q4 last year.
“Therefore, we have updated our criteria to allow limited company landlords to have borrowings elsewhere too.
“This demonstrates our continued commitment to working with our landlord customers to understand their bespoke requirements and also adapt as the market changes."