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The Cambridge re-enters BTL expat market with trio of products

  • 07/03/2022
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The Cambridge re-enters BTL expat market with trio of products
The Cambridge Building Society has launched three buy-to-let (BTL) expat mortgage products which will be available from Thursday.

The products include a two-year fixed rate and a two-year discounted mortgage both priced at 3.64 per cent, and a five-year fixed rate with a rate of 3.84 per cent.

It can be used to purchase a rental or holiday let property in England and Wales and has no application fees. The discounted rate product has no completion fee and the fixed rate products come with a £1,999 completion fee.

Experienced landlords with a maximum of three mortgaged rental properties will be eligible, and portfolio landlords are not eligible for this product.

Loans between £20,000 and £750,000 are available up to 75 per cent loan to value (LTV). It is available for purchase, remortgage, product switch and further advance.

On the holiday let side, loans are available up to £500,000 and include Airbnb properties as well as borrowers who live in the property for a maximum of 90 days a year.

The Cambridge’s product manager Dan Barker 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.”

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