The Cambridge relaunches expat buy to let mortgages
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.