Kent Reliance is now lending to landlords that have set up limited liability partnerships.
The changes take place from today and include borrowers who want to swap a buy-to-let mortgage from their name into an LLP.
The lender says new applications need to clear the following hurdles:
- Personal guarantees for 100 per cent of the loan provided by all LLP members
- Evidence the company is non-trading
OneSavings Bank sales director Adrian Moloney says: “Following the chancellor’s recent changes we introduced products designed specifically for property investors who were moving their investments into a limited company. We are pleased that we can now extend the same proposition to support LLPs.”