Limited Company BTL, a market that many big lenders have yet to enter, has a new entrant, and they launched a competitive product.

Buckinghamshire Building Society now offers an 80% LTV Buy-to-Let Mortgage at 5.49% fixed for 5 years.

In certain circumstances, this is a market-leading mortgage product for Incorporated Landlords. Unfortunately, it is a limited offer (for now?).

The Building Society says the products are only available for limited companies SPV with a maximum of three Buy-to-Let mortgaged properties.

The lender has some good criteria, including a minimum income of £25,000, a 10% annual overpayment allowance, day-one special purpose vehicles (SPVs), and first-time buyers and first-time landlords.

The mortgage has a 125% interest coverage ratio (ICR) for limited company applicants, giving a good rental affordability assessment.

Low Fee Comparison

We can compare it with other low-fee Limited Company BTL Mortgage Products:

• 5.49% with a £1,195 fee with Buckinghamshire Building Society
• 5.49% with a £1,495 fee with Bath Building Society
• 6.39% with a £0 fee with Leeds Building Society
• 6.85% with a £200 fee with Zephr Building Society
• 7.19% with a £200 fee with Landbay

Top Lenders Comparison

The largest BTL lender, with a 10.4% market share, is The Mortgage Works (TMW). However, their best 5-year Fixed 80% LTV LTD Company BTL mortgage product has a higher rate of 5.99% and a 2% fee.

The second-largest BM Solutions (9.9% Market Share) and the third-largest Natwest (8.6% Market Share) do not offer Limited Company BTL Mortgages.

Also Launched

They are also launching:

• a three-year fix at 6.09% for expats up to 75% LTV
• an expat holiday let deal at 6.09% discount for two years up to 75% LTV
• a two-year fix at 5.79% for holiday lets up to 75% LTV.

As seen on

• Mortgage Solutions
• Mortgage Stratagy

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