Nationwide issues urgent message to anyone who's a landlord

Nationwide issues urgent message to anyone who's a landlord Nationwide subsidiary The Mortgage Works has moved to boost support for limited company landlords. Nationwide issues urgent message to anyone who's a landlord Nationwide has issued an urgent message to anyone who's a landlord after a big change. Nationwide subsidiary The Mortgage Works has moved to boost support for limited company landlords. The Mortgage Works has boosted its support for limited company landlords by removing the need for all mortgage applicants to be directors. This means that The Mortgage Works now accepts applications where one applicant is only a shareholder, who owns at least 20 per cent of the shares in the company. Article continues below READ MORE UK set for NEW hottest day of year with exact date next week announced The change follows the demand The Mortgage Works has seen from landlords as well as feedback from brokers. This is yet another step that The Mortgage Works has taken to further enhance its limited company offering. It comes after it started to accept intercompany loans as a deposit option for buy-to-let mortgage applications from limited company landlords. Damian Thompson, Director of Landlord at The Mortgage Works, said: “We are making this change to address the ever-evolving needs of limited company landlords and their requirements on company structures. "The Mortgage Works has been supporting the limited company buy-to-let market since 2018, and this latest enhancement is another example of our continued commitment to the market. "It’s also a perfect demonstration of how we continue to listen to and act on feedback we receive from both landlords and brokers.” Article continues below Jessica Folkes, Head of Mortgage Sales at Dynamo, said: “This is a great development, which further strengthens The Mortgage Works’ already strong proposition. "Limited company landlords continue to expand their presence in the buy-to-let sector and it's great to see lenders supporting landlords and refining their criteria to meet evolving needs.” Nationwide is the UK's third largest mortgage provider and holds almost £1 in every £10 saved in the UK, as well as one in ten of the UK's current accounts. It also supports landlords and those who rely on the private rented sector for their long-term housing needs through its buy to let business, The Mortgage Works.