Cambridge Building Society

Cambridge Building Society launches BTL products for UK expats

Cambridge Building Society has introduced three new BTL products for UK expats looking to buy rental or holiday let properties in England and Wales.

The new options, all offered with no application fees, include a two-year fixed-rate mortgage and a two-year discounted product — both priced at 3.64% — as well as a five-year fix at 3.84%.

There is no completion fee on the two-year discounted mortgage, while the fixed-rate options come with a £1,999 completion fee.

The products offer loans between £20,000 and £750,000 at up to 75% LTV, available for purchases, remortgages, product switches and further advances.

Loans for holiday lets are offered up to £500,000 for Airbnb properties and for borrowers who occupy the property for up to a maximum of 90 days a year.

The new products are designed for experienced landlords who have a maximum of three mortgaged rental properties and who are not deemed portfolio landlords.

The society will not lend to any country on the financial sanctions list. 

Dan Barker, product manager at Cambridge Building Society (pictured above), said: “I am delighted we have been able to re-enter the expat BTL 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. 

“As we assess all applications on a case-by-case basis, we can offer as much flexibility as possible.”

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