Ex-Pat Buy-to-Let reintroduced at Buckinghamshire Building Society

16 September 2020

Latest figures from the Office for National Statistics state that almost four million British people live abroad, with almost 800,000 in Europe alone. According to the latest data released for July by mortgage technology provider Twenty7Tec, there has been a surge in demand for buy-to-let property, with significantly more tenants seeking homes to rent.

For those who wish to maintain a link to the UK by purchasing a property to let, the choice of lenders is increasing, with specialist lenders and smaller building societies offering a range of options.

Buckinghamshire Building Society has reintroduced its Ex-Pat Buy-to-Let Mortgage, which is available for individual landlords (including first-time landlords) or limited companies.

Tim Vigeon, the Society’s Head of Lending, explains: “Our Ex-Pat product is up to 70% LTV and available to those who are residing abroad, either renting or as homeowners. We have no maximum age at entry or exit, which is something that is unique in the market. We have had a number of enquiries regarding this type of lending in the past, with people looking to rent out a UK property as part of their long-term financial planning. We have a list of accepted countries and the borrower must be either living or working in one of these.” Tim continues, “Customers will of course be subject to our usual affordability criteria, and as long as they have a UK bank account from which to pay the mortgage and receive the rent, we believe this will prove, once again, a popular addition to our Buy-to-Let offering.

Product

Initial Rate

Discount from BTL SVR

Follow on rate

APRC

Max LTV

ERC

App fee

Prod fee

Notes

EX04

Ex-Pat BTL 2 year discount

3.99%

1.50%

5.49%

5.4%

70%

1.0% year 1

0.5% year 2

£0

£999

For a list of acceptable counties where UK ex-pats are residing visit our website.

For further information, contact
Amanda Arnold, Marketing Executive
Tel: +44 (0) 1494 877249