The Cambridge Building Society has introduced three buy-to-let mortgage products to help UK expatriates living and working overseas, buy rental or holiday let properties in England and Wales.
They are a 2-year fixed rate and a 2-year discounted mortgage at 3.64%, and a 5-year fixed rate mortgage at 3.84%.
All are offered without application fees. There is no completion fee on the 2-year discounted and £1,999 completion fees on the fixed rate products.
The Cambridge’s product manager, Dan Barker (pictured), said: “I am delighted we have been able to re-enter the expat buy-to-let market this year, as it’s been on the ‘to do’ list for a while now.
“These products offer competitive rates, and increased choice, as well as the opportunity to add completion fees to the loan. And as we assess all applications on a case by case basis, we can offer as much flexibility as possible.”
These products are available for experienced landlords who have a maximum of three mortgaged rental properties and who are not deemed portfolio landlords.
Loans can be considered up to 75% loan to value, between £20,000 and £750,000 and are available for purchases, remortgages, product switches and further advances.
Holiday lets are available up to £500,000, including Airbnb properties and for borrowers who occupy the property for up to a maximum of 90 days a year.
The Cambridge will not lend to any country on the financial sanctions list. All currencies considered.
