The Nottingham unveils limited company BTL mortgages

The Nottingham for Intermediaries has announced the introduction of a range of limited company buy-to-let (BTL) mortgages.

The headline products are a two-year deal fixed at 2.76% that has a £999 fee with a minimum loan size of £30,000, as well as another two-year fixed product at 2.79%, that has a fee of 0.50% of the mortgage amount, and a minimum loan size of £70,000.

The Nottingham indicated its products are designed to help landlords with limited company status for their portfolios, and that changes to mortgage interest rate tax relief for landlords are leading to many of them reviewing how their portfolios are structured.

As well as its residential offering, The Nottingham suggested it prides itself on its BTL range, as well as providing a support package that includes regional business development managers, direct access to underwriters and rental income calculations – to help brokers fulfil their clients’ requirements.

The Nottingham head of intermediary sales, Nikki Warren-Dean, said: “Judging from the conversations we’ve been having with our broker network, many landlords are considering structuring their portfolios on a limited company basis, if they haven’t already, so it’s important we offer competitively priced products to suit their needs and that build on our expertise in the BTL space.

“However, it isn’t just about the right product – there will be ease of use for brokers, who will benefit from exactly the same process as they do when applying for residential or individual BTL mortgages via our broker portal system. They will also receive our usual quality service that includes their own regional business development manager and direct access to underwriters.”

Legal & General Mortgage Club head of lender relationships, Danny Belton, added: “One of the strong points of The Nottingham’s proposition over the years has been in BTL. The move to add limited company to the BTL range is very welcome and will most certainly be embraced by intermediaries.

“As with any mortgage sector, competition and choice is vital, and the criteria and products from The Nottingham really do enhance what is available today.”

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