Furness Building Society have release a product update for intermediaries. See below for details. Access these product via our direct to lender mortgage club and get the benefits of payment on completion.
Announcement
Furness Building Society launches Limited Company Buy-to-Let Mortgages
New mortgage range offers brokers more options for limited company landlords, including first-time investors and those with no minimum personal income.
Furness Building Society has expanded its mortgage offering with the launch of Limited Company Buy-to-Let mortgages, giving brokers more flexibility when supporting clients purchasing or refinancing investment properties through a limited company.
The new range is available to eligible Special Purpose Vehicle (SPV) limited companies across England, Scotland and Wales, covering standard Buy-to-Let, Holiday-Let and specialist property types.
The launch forms part of Furness Building Society’s ongoing commitment to broadening its mortgage proposition and supporting brokers with lending solutions that recognise different borrower circumstances.
The new range accommodates a variety of property types, including Houses in Multiple Occupation (HMOs) and Multi-Unit Freehold Blocks (MUFBs), alongside standard rental properties and holiday accommodation.
Furness is also opening up lending to first-time landlords, with no minimum landlord experience required. There is no minimum personal income requirement, with affordability assessed using an Interest Coverage Ratio (ICR) model based on rental income.
The range is available to eligible SPV limited companies, with all applications subject to the Society’s lending criteria, valuation and underwriting assessment.
The new products will be supported by Furness’s manual underwriting approach, enabling its experienced team to assess applications individually and consider the circumstances behind each case.
Brokers will also have access to Furness’s BDMs team, who can review cases before a full application is submitted, helping brokers understand whether a client’s circumstances are likely to meet the Society’s criteria.
Jonathan Cartlidge, Head of Member and Broker Strategy, said: “Brokers are increasingly supporting landlords who choose to invest through limited companies, and we want to give them more options when finding the right mortgage solution for their clients. By introducing Limited Company Buy-to-Let mortgages, we’re expanding our offering to support a wider range of property investors, including those taking their first steps into the rental market.
Our approach combines flexible lending criteria with the personal service brokers expect from Furness. Whether it’s a straightforward application or a case that needs a closer look, our team is here to understand the details and help brokers explore the options available.”
The updated products are available immediately across England, Scotland and Wales. Full information is available on the Furness intermediary website or through a Business Development Manager