Cambridge BS launches buy to let expat mortgages

The deals are available at up to 75% loan to value (LTV) and feature a five-year fix at 3.49 per cent and a two-year discount rate of 2.89 per cent.

Both have a £499 application fee and £1,500 completion fee.

The range is available for purchases and to borrowers looking to remortgage.

For the five-year fix, applications will be assessed using a stress rate of 4.99%, with rental coverage of 140% – dropping to 125% on like for like remortgages.

Tracy Simpson, head of lending at the Cambridge Building Society (pictured), said: “This new range of products demonstrates a commitment to this type of borrower and how we continue to invest in our buy to let offering.

“Landlords who are based abroad often have a specific set of circumstances and our manual underwriting approach allows these to be taken into consideration.”