Limited liability partnerships can now access our limited company products.
Criteria changes:
- Leasholder / freeholder connection: No first charge on the freehold, only a legal charge;
- Now accepting limited liability partnerships (LLPs);
- No longer require all shareholders to be party to the application;
- Minimum size: Reduced from 35sqm to 30sqm for studio flats in urban area;
- Exposure limit: Will consider lending on all units in a block of 4 or less flats. If the block has 5 or more flats, fleet will still lend against 2 or 20%;
- Portfolio landlords: Now only require an asset and liability statement from the main applicant owning 4 or more properties.
Check out our latest criteria guide here and product guide here.
