The maximum age at the point of application for new borrowing, remains unchanged and the eldest customer must submit any application before their 75th birthday.

Maximum mortgage term will remain at 40 years at application.

New maximum age policy applies to both BM Solutions mortgages held in personal names and those held by Limited Companies.

For Product Transfer applications the existing mortgage term can be amended up until the eldest applicant’s 99th birthday

For Further Advance applications the new borrowing mortgage term can be selected up until the eldest applicant’s 99th birthday

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Accepting your NatWest mortgage product switch

We often find NatWest Clients get stuck when trying to accept a mortgage switch offer, either when trying to get access to the NatWest App or Website, or during the Acceptance process – we hope the information below will be of assistance to you.

When you request a new mortgage rate, NatWest will email an offer copy to each account holder.

You have 14 days to accept your NatWest mortgage offer. If you do not accept your Offer within that time, the Offer is cancelled.

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BM Solutions launch Limited Company Buy To Let offering

BM Solutions has introduced a new Limited Company Buy to Let mortgage range, available from 28th July 2025. Offering competitive rates from 3.99% and generous affordability calculations, this launch creates new opportunities for borrowers to purchase, remortgage, or transfer existing properties into a Special Purpose Vehicle (SPV) Limited Company. In this article, we explain the key features, eligibility rules, accepted company types, and important requirements, so you can decide whether BM Solutions’ latest offering is the right move for your property plans.

Important Director & Shareholder Requirements

• Each director/shareholder must act as guarantor for full amount
• Obtain independent legal advice on that guarantee
• Directors/shareholder to be prepared to undergo a soft credit search
• Directors/shareholder must each own UK property in own name
• No more than 4 directors/shareholders per application
• 100% of total shareholding must be held between the parties involved
• All directors and shareholders must reside in Great Britain
• Companies registered outside of Great Britain

The launch of the BM Solutions Limited Company Buy to Let range is a welcome addition for borrowers looking to invest through an SPV structure. With competitive rates, generous affordability calculations, and clear criteria for accepted company types, it opens the door to new opportunities for both purchasing and remortgaging.

However, Limited Company Buy to Let mortgages come with specific requirements, especially around director guarantees, company structure, and eligibility. So, getting the right advice from the outset is essential.

If you’re considering transferring property into a Limited Company, starting a new SPV, or expanding your portfolio, we can help you explore whether BM Solutions’ offering is the right fit for your plans and guide you through the application process from start to finish.

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Dreaming of your first home? Discover how a £5,000 mortgage deposit could open the door to homeownership

Read on to discover an exciting opportunity for first-time buyers.

What to expect from the mortgage application process

Navigating the mortgage application process for a £5k deposit mortgage is easier than you might think. First, you’ll begin by discussing your financial situation with us, where we’ll review your income, credit history, and any existing debts.

Once we’ve determined your eligibility, we’ll help you gather all the necessary documents, such as proof of income, bank statements, and identification. The next step involves completing a straightforward £5k deposit mortgage application, after which the lender will assess your credit profile and arrange a free valuation of your chosen property.

Throughout the process, we’re here to guide you every step of the way, ensuring that the journey towards securing your first home is as smooth and stress-free as possible.

Ready to take the next step with a £5k deposit mortgage?

If you’re a first-time buyer dreaming of owning your own home but have been held back by high deposit requirements, now is your chance to make that dream a reality. This new £5k deposit mortgage is designed to help you get on the property ladder with ease. With competitive rates, minimal upfront costs, and clear eligibility guidelines, you could be one step closer to securing your first home.

Contact us today for a no-obligation consultation and find out how you can take advantage of this breakthrough mortgage product. Let’s work together to help you start your journey towards home ownership.

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To obtain your credit report(s) click on the image below. Try it FREE for 7 days, then £14.99 a month – cancel online any time

Your credit report is held by three main Credit Reference Agencies in the UK.
These are:

All financial institutions have an agreement whereby they feed information back to these three Credit Reference Agencies about your history of applying for credit and paying for credit. From this information, other lenders can decide what level of risk you present when you apply for credit with them.

What does my credit report contain?

Your credit report contains a number of items, the main ones being:

Credit scoring

Lenders often use credit scoring to decide whether to consider you for credit. It is important to note that the lender’s credit score is not the same as the credit score that you may see on your credit report. Each lender has their own way of scoring an applicant. To help your case, ensure your credit report is clean, accurate, and presented in the best way possible.

Blacklists

There is no such thing as a credit blacklist. All Credit Reference Agencies do is hold information about individuals taken from public records, lenders, or the individual themselves. If you are declined for credit by a financial institution that is a matter for them only and does not mean you are on a ‘blacklist’.

Credit searches and multiple applications for credit

Making several applications for credit over a short period of time may have an adverse effect on the response you get from lenders as these build up and shown on your credit report. When looking at alternate offerings you should ask for quotations rather than making applications. An application or assessment for credit will be entered on your credit file and this is known as a ‘footprint’. Some lenders offer credit scoring with what is known as a ‘soft footprint’. A soft footprint is visible only to the lender that places it on your credit file.
It is important to remember that your credit report can only be searched with your permission. You provide this permission when you apply for credit.
Credit Reference Agencies are regulated under the OFT Consumer Credit Act 1974 and 2006. They have a legal right to hold information about you. If you have a complaint about any Credit Reference Agency look on their website for information on their complaint handling procedures.

The electoral roll

Being on the electoral roll enables you to be registered to vote in elections. This is the easiest way for a lender to check your address history and confirm your name and address. Therefore, being on the electoral roll assists your credit rating.
In order to register on the electoral roll you need to be a British, Commonwealth, or European Citizen over 18. The Electoral Roll is updated by your local authority every autumn, although you can contact them at any time and ask for your record to be added or updated.

Aliases

Credit Reference Agencies keep details of any aliases under which they have a record of any credit given to you, or applied for by you.

Associations

An association is a link you have with someone of a financial nature. Associations are not registered between business partners but are concerned with joint accounts and joint applications. If you are no longer linked to an associate you may contact the Credit Reference Agencies and have your credit report updated.

Court judgements

If you have a court judgment on your credit record, it indicates you have been taken to court as you have not made payment on the money that you owe. Credit Reference Agencies obtain information on all people who have been taken to court for debt. If you believe a judgement has been wrongly recorded on your credit record you need to contact the court. Your credit record will show the case number of the relevant case.
If you pay any court judgement you can obtain a letter of satisfaction to prove it has been paid. A court judgment will remain on your credit record for six years even if you have paid it.

Bankruptcies

Bankruptcy information (known as Sequestrations in Scotland) is provided by the Insolvency Service to Credit Reference Agencies. At the end of your Bankruptcy order, or when you are discharged, Credit Reference Agencies are notified. If this does not happen you can obtain a copy of your discharge order from the Official Receiver and provide it to the reference agency. A Bankruptcy appears on your credit record for six years unless it is cancelled or annulled.
If you are the subject of a Bankruptcy Restriction Order, your Bankruptcy can stay on your file throughout that restriction order.

Voluntary Arrangement

If you are the subject of a formal voluntary arrangement from the court to pay off your debts, this information will be notified to the Credit Reference Agencies who will keep it on your credit record for up to six years.

Repossessions

Details of any property you have owned that has been repossessed.
In Scotland, the equivalent system of Trust Deeds is logged in the same way.

Main information on your credit account

All Lenders in the UK share information via Credit Reference Agencies. Your credit record shows details of every credit account you hold or have held in the past six years with information as to how much is outstanding, what the payment rate is set at, and your history of payments.

Credit Report Status Codes

Your Credit Reference Agency will typically use a status code to indicate what has happened with each account. If, for example, you have a credit card, your credit file will show payments over the last 36 months with a focus on the past 12 months’ payments. Payments monthly will be shown with a status code which shows if the payment has been made on time. A status code of ‘0’ under each month shows all payments have been made on time.

A status code of ‘1’ shows that a payment was one month late. If payment is not made the following month the status code is shown as 2.
Late payment status codes run up to 6 when they then revert to status 8.

Status 8

Status 8 on an account shows it to be in default.
A default means you did not keep to your credit agreement, and you have not responded to requests to bring your account up to date. A status 8 against one of your accounts on your credit report will make it difficult for you to arrange a mortgage with mainstream lenders.

Status D

Status ‘D’ indicates that an account is dormant and nothing is owed.

Status U

Status U means the lender cannot provide information on the account as it is newly set up or subject to dispute.

Status “?”

Status ‘?’ means the lender cannot provide information at this time.

Defaults

A default will stay on your credit report for six years after it has been registered.
We often have clients who believe that paying off a defaulted account removes the default from the report. This is not the case and those with a default on their credit report need to make their mortgage broker aware of this at the outset when applying for a mortgage as it will cause problems.

Notes on your account

You may see a variety of notes added to your account. Here are some of the common ones and what they mean.

Financial Associates

We often find clients concerned that their credit file has been damaged by them sharing an address with someone who has a poor credit record. This should not be the situation unless there is a case of mistaken identity. Another person is listed as a financial associate only if you have applied for credit together. A financial associate is typically a former partner or spouse.

One of the most common problems we see is where a relationship has broken down and one partner leaves credit in the hands of another partner to be repaid, but this has not happened. Where a credit agreement has your name on it, any failure to pay will reflect on your credit file regardless of any private agreement you may have with the other party.

Linked addresses

A linked address is an address to which you have had a financial connection in the past, perhaps using it to apply for credit. When you apply for a mortgage, a lender may query a linked address if it comes up on a credit report.

GAIN information

GAIN information is held on customers with debts who have moved home without providing a new address. For this reason, any GAIN information on a credit report is of concern to a potential lender.

CIFAS information

CIFAS is the UK’s fraud prevention service, CIFAS was set up to prevent people from having their names, addresses, or other details used by criminals to obtain goods, services, credit, or insurance. If there is a CIFAS note on your report this does not mean you are being accused of anything, but it is a matter of concern for a lender as there may have been suspicious activity on your record.

Notice of correction

A notice of correction is a note of up to 200 words on your credit file to clarify information. Credit reference agencies will only add notices of correction on your credit file if you can evidence there is good reason to do so.

Our main tips for improving your credit file

Step out the back Jack

Clients often ask if their ex-partner’s poor credit file can damage their own.

When you apply for credit in your own name only, the poor credit file of an ex-partner can affect your result if you are still ‘associated’. You are ‘associated’ if you have applied for credit together in the past.

If you are no longer associated with an ex-partner who has a poor credit file you should request ‘disassociation’ from that individual with the credit reference agencies. It is quite easy to do, for example, Experian has a financial disassociation questionnaire online that you can use to do this.

Finally

Your credit report and its condition greatly affect your ability to obtain credit and the rate you pay for it. Take some time and ensure it is in the best state possible.

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In this scenario, our enquirer and his wife both ran a limited company and, in each case, the partner was a 100% shareholder in the company. They had found the property they wished to purchase and had already had an offer accepted.

They had engaged an independent mortgage broker some months before and assumed that they wouldn’t encounter any issues getting a mortgage as limited company directors because the broker had advised them to pay themselves PAYE to support their application. It also tells the lender if the applicant will be making the decision on whether dividends are paid (+50% shareholding), or indeed if the shareholding is small enough that the lender can consider the applicant as an employee (-25% shareholding).

At the time of the mortgage in principle application, they were paying themselves £3,000 and £4,000 per month respectively via the PAYE system. They submitted their application which was refused by the lender because the profit from their businesses did not indicate that the PAYE being received was affordable for their limited company.

During our discussion with the client, it became apparent that they had no chance of raising the £200,000 mortgage borrowing they needed at the current time, for the current purchase. In fact, they had simply paid out a lot of employer and employee National Insurance and income tax to no benefit.

So, what was the problem, and how do lenders look at this issue?

What you need to know when getting a Mortgage as a Limited Company Director

If we take matters back to basics and consider how both limited company income and company director income work, we can better understand how lenders think.

A business generates monthly revenue which totals over a year into an annual turnover. The business also incurs costs to generate sales and run the business such as office and sales support staff and finance departments (known as overheads). These costs are taken from the turnover of each annual trading period to arrive at a pre-tax profit figure. The business then pays Corporation Tax on the profit figure leaving a post-tax profit figure.

How a Limited Company Director takes personal income from the business matters

A company director can take personal income from the business in two ways:

• via PAYE as a limited company director
• via Dividends as a company shareholder

(The director may also take expenses or repayments on a loan to the business, both are not an income as they are simply a return of funds already paid out)

When getting a mortgage as a limited company director what factors are important to the mortgage lender?

What is the level of shareholding in the limited company of the mortgage applicant?

This percentage share of the limited company is important because it informs the lender as to the share of profit to factor in for the applicant.

Is the limited company profitable, and if so at what level?

If the limited company director is taking PAYE and or dividends from the business, the mortgage lender will work out if this can be sustained given the profit the business is currently generating. If a limited company director is taking PAYE and the business is making a loss, then that is not a sustainable situation, and they will therefore be less likely to lend.

How long has the limited company been profitable, and at what level?

If the limited business has only recently been profitable the mortgage lender takes a risk knowing that profitability may not continue. If there has been a material dip in profit the lender will want to know if that pattern is likely to happen again.

Has there been a big change in the profitability of the limited company?

If so, the mortgage lender will seek what activity accounts for the change. They will investigate whether there has been one large order that has skewed the figures for example, and if this is the case they will need to know if they can rely on the profit figure.

The Mortgage Lender’s response as a result of your answers

The majority of mortgage lenders will underwrite for limited company directors based on PAYE and dividends averaged over the last two tax years (with the most recent year completing within the last 15 months).

Some lenders will work on the most recent years’ figures alone if they are higher. Some lenders will work on a single year’s figures for a newly established business. See our mortgage with 1 years accounts page for more information.

What if I don’t take or want PAYE or Dividends from the business?

There are mortgage lenders in the market that will work on post-tax profit and PAYE (ignoring dividends) for limited company directors.

Other points to consider when getting a mortgage with a limited company

Lenders will look up your limited company on the Companies House register and it is easy for them to establish who the directors are and whether you have a substantial shareholding (controlling interest).

They can also see when the business was established, and check balance sheets on recent micro account returns.

What do you as a Limited Company Director need to provide to your Mortgage Lender?

A mortgage lender will typically look for tax calculations and tax year overviews covering the last two tax years. They may also require signed full accounts covering the last two trading years (this means accounts signed by you and ideally by your accountant, and full accounts not abbreviated accounts).

Some mortgage lenders will work from a reference from your accountant, but this is rare.

A lender may also ask for copies of limited company bank statements to evidence recent revenue and good conduct.

Common mistakes when getting a mortgage with a limited company

The most common mistake when getting a mortgage as a limited company director is to assume that paying yourself PAYE mitigates any issues with the mortgage application.

Another common mistake is expecting mortgage lenders to work on current trading year figures ignoring previous completed years – a sudden upshot in trading revenue cannot be relied on for lending purposes. You can read more information about this on our mortgages for company directors page.

Some of the borderline fraudulent mistakes that can be made by limited company directors include:

• pretending to be employed and not mentioning limited company ownership
• changing ownership of the business just prior to application

The golden rule when getting a mortgage with a limited company

We frequently quote our golden rule to limited company directors which is:

Do not make business or taxation decisions based on targeting a successful mortgage application. Run your business and tax affairs first and worry about your mortgage afterwards.

How can I increase my chances of a successful Mortgage Application?

• Always use an experienced mortgage broker
• Submit your tax returns and pay your taxes to ensure your Tax Calculations and Tax Year overviews are in order
• Be upfront and open with your broker about any information regarding your limited company that could be relevant

If you are interested in getting a mortgage when self-employed please contact us to speak to a mortgage expert today.

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