Limited company criteria

How to apply
Product and loan criteria
Key criteria
Company structure
Portfolio landlords
Source of deposit
Underwriting requirements
Useful guides and forms

How to apply

Applications can only be submitted by using our editable Limited Company application form.

Literature is available to download as PDF documents. If you don’t have Adobe Reader, download
a free copy.

To prevent any delays in your application, please remember:

  • Before you complete your application, please download and save the form first
  • Handwritten application forms are not accepted
  • Every question must be completed
  • The application form is updated regularly, ensure you download the latest version from our website every time you apply
  • You can print a copy of the application form for compliance or data capture purposes.

Once completed, please email the form to

You can't submit applications or obtain a Decision in Principle (DIP) through TMW Online. KFI's should be obtained from your usual sourcing system.

For case updates, call us on 08000 30 40 40.

Product and loan criteria

  • Products are available up to 80% LTV
  • Purchase and remortgage only. Further advances aren’t currently accepted
  • 125% Interest Cover Ratio (ICR) for Buy to Let (170% for HMOs).

Download our product guide to view our product range and information, including stress rates.

Key criteria

  • Our limited company products are only available to special purpose vehicles (SPVs) registered in England, Wales or Scotland. Partnerships or LLPs aren’t accepted
  • A floating charge over assets of the company isn't required
  • First time landlords and houses in multiple occupation are accepted. We don’t accept let to buy applications.

Company structure

  • The maximum number of directors is two. They must have 100% shareholding between them. Company structures outside of this aren’t acceptable
  • Directors may only have one limited company financed to TMW
  • Directors must meet our standard lending criteria
  • The company must advise of any proposed changes in the directors of the company or shareholding more than 5%. If your client fails to comply, this may lead to legal action against them.

Portfolio landlords

  • Portfolio landlord criteria applies if the company and its directors own four or more mortgaged properties, either separately or altogether
  • If your client owns properties in their personal name, it must pass 145% rental cover. For properties held in a company, it must pass 125% rental cover
  • A stress rate of 4.50% (up to 10 mortgaged BTL properties) or 5.50% (11 or more mortgaged BTL properties) also applies.

Source of deposit

  • Loans from another company won’t be accepted, however a repayment of a director’s loan or dividend payment from another limited company will be considered
  • A gifted deposit from individuals to director(s) are acceptable, however gifts to the company are not.

Underwriting requirements

Our specialist underwriting team will confirm the case requirements when your client’s application is submitted. In most cases, we’ll request:

If you haven't met with the directors 'face to face' then you'll be required to certify documents used to support your client's application.

If we're unable to verify your client electronically, we'll ask you to provide the Certificate of Incorporation.

We reserve the right to request additional information to satisfy requirements.

Limited Company FAQs

What is the procuration fee for Limited Company cases?

For new applications, we'll be paying an additional 0.10% gross procuration fee for Limited Company cases. This will be payable via your usual Mortgage Club or Network.

My clients are both directors of the company however only one has a shareholding, is this acceptable to TMW?

100% of the shareholding must be owned by the Directors to be acceptable to TMW.

Will TMW require separate solicitors for you and my client?

No, we aren’t insisting on separate representation.

What is a Special Purpose Vehicle (SPV)?

An SPV Limited Company is set up solely for the purpose of buying, letting and selling residential BTL property. If the Limited Company trades in additional industries, this is not acceptable.

What are Standard Industrial Classification (SIC) codes?

The SIC code of a company confirms the nature of trading. TMW accept any/all of the SIC codes 68100, 68201, 68209 and 68320.

Will TMW lend to layered companies?

Layered companies are not accepted. A layered company is where another company has a shareholding in the proposed company, or where the proposed company has a shareholding in another company.

Will you insist on first legal charge?

Yes, we will require first legal charge over the security.

Useful guides and forms

Before you complete your application form, please download and save the form first. All questions must be completed or your application will be returned.

Literature is available to download as PDF documents. If you don’t have Adobe Reader, download
a free copy.

Limited Company application form
Deed of Guarantee
Bank statement guide

Gifted Deposit form
Property schedule

We're here to help

We hope we've answered most of your questions, but if you’re still unsure about something, you can contact your BDM or one of our experienced advisers on Broker Chat.