The move is in recognition of the fact that more portfolio landlords are now deciding to transfer ownership to a limited company.
The latest BDRC Landlords Panel survey found that one in five (22%) landlords with a portfolio of 20 properties or more had already transferred ownership to a limited company or spouse, and 27% were considering it.
The removal of the processing fee comes shortly after the launch of Foundation Home Loans’ HMO product, with both two and five year fixed rates.
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”.
