Newbury Building Society has announced that it has reduced the rate of its Limited Company buy-to-let mortgage product to further support landlords.
According to the lender, its Limited Company buy-to-let product is now at 2.75% (down from 2.99%) – 75% LTV. The Society has also reduced the product’s mortgage application fee from £1500 to £950 for both purchase and remortgage.
The price reduction puts the Limited Company 3-year variable buy-to-let product at the same price as the Society charges for buy-to-let mortgages for individuals.
Roger Knight, Lending Manager at Newbury Building Society said: “Following various changes to tax regulations, there has been a noticeable shift in professional landlords choosing to set-up limited companies to take advantage of the corporate tax benefits. We hope the improved pricing, as well as our flexible approach to lending, will give brokers the right tools to support clients in achieving their objectives.”