Buckinghamshire BS expands holiday let range to expats

Expats can access a three-year discounted rate at 4.89 per cent with a maximum loan to value of 75 per cent.

The minimum loan is £50,000 and a maximum loan size is £500,000. There is no application fee and a product fee of £1,195 may be added to the loan.

It is also subject to an early redemption charge of three per cent in the first year, which falls one per cent per year of the term.

Applications can be accepted from individuals or limited companies, which include specialist purpose vehicle limited companies.

The mutual said that to qualify properties have to qualify as a furnished holiday let under the HMRC definition and must be available to let for 140 or more days a year.

Only lending to coastal or nat park properties

Applicants should also have a minimum sterling equivalent income of £30,000 and a maximum of three UK buy-to-let mortgaged properties.

It added that it will only lend on properties by the coast and national parks, and would not lend to properties in holiday parks complexes, B&B or Airbnb, flats, leasehold properties or properties with an occupancy restriction.

Accepted countries include United Arab Emirates, Jordan, Qatar, Bahamas, Barbados, Canada, Chile, Costa Rica, Dominica, Grenada, Saint Lucia, Saint Vincent & Grenadines, Uruguay. USA, Bhutan, Brunei, Japan, Malaysia, Singapore, South Korea, Taiwan, Australia, New Zealand, Botswana, Cape Verde, Lesotho, Mauritius, Namibia, Rwanda, Sao Tome & Principe, Senegal, Seychelles and South Africa.