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Specialist lender ModaMortgages has announced it is now accepting simple layered limited company applications.

The lender’s new offering is aimed at landlords who operate through a limited company structure typically consisting of a special purpose vehicle (SPV) linked to one other company.

The director(s) and shareholder(s) must collectively hold a minimum of 75% shareholding across both the SPV and linked company, limited to a maximum of four applicants.

CHL Mortgages for Intermediaries, a fellow member of the Chetwood Bank family, will continue to support landlords with more complex layered limited company requirements.

Darrell Walker, ModaMortgages’ Group Sales Director, said: “This latest expansion to our criteria shows how committed we are to meeting the evolving needs of landlords in the ever-changing specialist buy to let space.

“We’re introducing this criteria enhancement after listening to feedback from brokers who told us they were receiving more requests for simple layered limited companies from their clients.

“By providing a simple layered limited company offering solution, we can now provide more comprehensive support to landlords looking for alternative ways to structure their buy to let holdings.”