Buckinghamshire Building Society has launched a fixed rate mortgage product, tailored specifically for expat buy-to-let (BTL) landlords.
This 5-year offering was designed to meet the needs of expats seeking to invest in the UK property market.
The rate is available for both purchase and remortgage cases from today (Wednesday 29th November), for properties across England and Wales.
Key features include a fixed rate of 6.49% until 28th February 2029, with a maximum loan-to-value (LTV) of 75%.
The product caters for loans from £50,000 to £500,000, with a maximum six storeys for flats, or four for ex-local authority.
Claire Askham (pictured), head of mortgages sales at the society, said: “As a lender, expat buy-to-let mortgage products are probably one of the areas intermediaries know us best for already, so we know this new product will be well received by the broker community, particularly as longer-term fixes are regularly requested from clients looking for payment surety.
“We do things a little differently here at the Bucks. We’ll accept first-time buyers and first-time landlords on our expat products and even consider consumer buy to let applications for properties that the owner has previously lived in.
“We’re also happy to consider applications from clients without active credit in the UK, all we ask is that they have a UK bank account to receive the rental income into and make their contractual mortgage payments from.”
She added: “With expat lending now available to applicants residing in over 30 countries around the world, including Australia and the United States, along with our streamlined processes making it easier than ever to submit an application, it’s definitely worth considering us for your next expat buy-to-let case.
“You can also check out our new expat affordability calculator on our intermediary website along with full details of all our products and criteria.”
