Two lenders have moved this week in ways that matter to landlords who buy through a limited company (an SPV), and the 28 October Budget is now just days away. Here is what has changed and what to get ready.
What lenders changed this week
The Mortgage Works (TMW) now lets directors and shareholders who already have one SPV financed with it apply to finance additional limited companies with the same lender, according to Property118 (23 October 2026). It follows earlier TMW changes on intercompany loans, shareholder rules and its upfront application process.
TMW has also cut the minimum remaining visa validity for foreign national applicants without indefinite leave to remain from 30 months to 12 months, which may help overseas directors and newer arrivals.
Saffron for Intermediaries has brought back a 75% loan-to-value option for limited company buy-to-let, after a period when its limited company range stopped at lower LTVs (Mortgage Solutions and Property118, 22–23 October 2026).
More choice is welcome, but criteria differ a lot between lenders: personal guarantees, how many SPVs or shareholders are allowed, how intercompany loans are treated and the stress test used for rental cover. That is where a broker with whole-of-market access earns their keep.
Why the tax backdrop matters
The government has already confirmed that, from April 2027, income tax on property income for individuals will move to separate rates of 22%, 42% and 47%, with finance cost relief for unincorporated landlords given at 22% (GOV.UK, published 26 November 2025). Dividend tax rates also rose from April 2026.
The Autumn Budget is on Wednesday 28 October 2026. Until the Chancellor speaks, anything further is speculation, so we suggest waiting for the detail before restructuring anything. Whether a company structure suits you depends on your income, portfolio and plans, so always take tax advice from a qualified accountant alongside mortgage advice.
Interest rates in context
The Bank of England base rate is 3.75%, and the next decision is due on 5 November 2026. Lenders are repricing often, so having your paperwork ready can help you act when a suitable option appears.
Quick tips
- Keep your SPV tidy: lenders usually prefer SIC codes for letting or buying property, and clear accounts.
- Update your portfolio schedule: most limited company lenders want every property, loan, rent and lender listed.
- Check fix end dates now: a deal ending in the next six months can often be reviewed in advance.
- Don't rush a transfer into a company: stamp duty, capital gains tax and refinancing costs can apply, so get tax advice first.
- Overseas directors: ask us which lenders accept your residency and visa position before you apply.
Thinking about your next SPV purchase or a refinance? See our limited company buy-to-let mortgages page, read the guide to buying through a limited company, or download the property portfolio schedule from our client toolkit so we can review your whole portfolio in one go. You can also see how we helped a landlord with a Leeds portfolio incorporation.
Most buy-to-let mortgages, including limited company buy-to-let, are not regulated by the FCA.
Sources
- Property118 – Limited company landlords get wider BTL mortgage choice (23 October 2026)
- Mortgage Solutions – TMW widens SPV borrowing; Saffron BS resumes 75% limited company lending (22 October 2026)
- GOV.UK – Changes to tax rates for property, savings and dividend income
- BKL – Property and other taxes ahead of Autumn Budget 2026 (updated 17 October 2026)
- Bank of England – Bank Rate
To talk it through, contact us or start your enquiry.
Important: This guide is general information, not personal advice. Rules, rates and lender criteria change; speak to an adviser about your circumstances. Your home may be repossessed if you do not keep up repayments on your mortgage.