Limited company buy-to-let mortgages - Landbay

Limited company buy-to-let FAQs

Which of your products are available to limited companies?: All of them. Every product in our range is available to SPV limited companies. LLPs can use our Core and Specialist ranges, and trading companies our Specialist range.
Which company structures do you lend to?: SPVs set up to hold rental property, LLPs and trading limited companies. We also consider layered company structures on referral, where the common directors and ultimate beneficial owners are party to the application. We don’t lend to trusts or charities.
Can a newly formed SPV apply?: Yes. There’s no minimum trading history, as long as the SPV is set up for property rental with an accepted SIC code.
Can first-time landlords apply through a limited company?: Yes. First-time landlords are welcome, as long as at least one applicant owns their own home or another property. Where your client has less than 24 months’ experience as a landlord, there’s a minimum combined income of £25,000. We also have a dedicated first-time landlord range for small HMOs and MUFBs, available to SPVs but not trading companies.
Which SIC codes do you accept for an SPV?: 68100, 68201, 68209 and 68320, as well as the older codes 7012, 7020 and 7032.
What’s the maximum LTV and loan size?: Up to 80% LTV on loans up to £500,000, 75% up to £2m, and 65% up to £3m. Limits depend on the product, so check our live products for current options.
How do you assess affordability?: An ICR of 125% for limited companies and LLPs, at the stress rates in our pay rate table.
Is there a limit on portfolio size?: Not in our Core and Specialist ranges. Our Premier range is for landlords with up to 15 mortgaged properties. Your client’s wider portfolio needs to meet an ICR of 125% at 5%.
Who needs to be on the application?: Up to four directors or members. All directors, and any shareholder with 25% or more, must be party to the mortgage. Shareholders with less than 25% don’t need to be.
Are personal guarantees required?: Yes. We need full personal guarantees, on a joint and several basis, from everyone on the application.
Can LLPs apply?: Yes, through our Core and Specialist ranges. All members must be designated members, and we can’t accept LLPs with a corporate member.
Do you lend to trading companies?: Yes, through our Specialist range. Trading companies aren’t eligible for our AVM products or our first-time landlord HMO and MUFB range.
What’s the maximum age?: 95 at the end of the term, as long as at least one director is under 85 at that point. On our Premier range, it’s 85.
Do directors need to live in the UK?: Yes. Directors and members must have been UK resident for the last two years, and the company must be registered in England, Wales or Scotland.
Can the deposit come from an inter-company loan?: Yes. Inter-company loans are acceptable, and directors’ loans can be considered, with evidence of where the funds came from.
Can I use an AVM?: Yes, for SPVs on eligible standard properties worth up to £750,000, at up to 75% LTV.
Do you lend in Scotland?: Yes. We lend on properties in England, Wales and Scotland.
Can my client switch to a new rate with you?: Yes. Product transfers can start within 90 days of the current rate ending, with further borrowing available subject to LTV and ICR.