Foundation Home Loans has removed the £500 processing and administration fee for buy-to-let applications from limited companies.
This news comes as the latest BDRC Landlords Panel Survey found almost a quarter (22%) of landlords with a portfolio of 20 properties or more had already transferred ownership to a limited company or spouse, whilst 27% were considering it.
Jeff Knight, marketing director at Foundation Home Loans, said: “We are constantly reviewing our proposition to ensure we keep things simple and straightforward for brokers and their clients.
“Removing this fee is a real benefit to the growing number of landlords who are choosing a limited company structure to expand their business.”
Foundation Home Loans also recently launched their HMO product with both 2 and 5-year fixed rates.