Buckinghamshire Building Society has increased maximum loan sizes across its buy-to-let and holiday let range to £750,000 and introduced new fixed-rate limited company products as it broadens support for landlords and expat investors.
The mutual has raised the maximum loan amount across its entire buy-to-let and holiday let proposition from £500,000 to £750,000 with immediate effect, giving brokers greater flexibility on larger investment cases.
At the same time, the Society has widened its expat criteria to accept mortgage applications from residents in Hong Kong, excluding those with BNO status, as it looks to expand its specialist lending proposition.
The lender has also introduced a series of new limited company SPV products across its buy-to-let and holiday let ranges.
The new products include a buy-to-let three-year fixed-rate product at 6.19% up to 80% LTV and an expat buy-to-let three-year fixed-rate product at 6.29% up to 80% LTV.
For holiday let borrowers, the Society has launched a two-year fixed-rate product at 6.09% up to 75% LTV and an expat holiday let two-year fixed-rate product at 6.19% up to 75% LTV. All products carry a £1,500 fee.
The changes follow Buckinghamshire Building Society’s recent refresh of its Everyday and Expat buy-to-let proposition and reflect what the lender said was growing demand for medium-term fixed-rate options.
Claire Askham, head of mortgage sales at Buckinghamshire Building Society, said: “We’ve seen continued appetite from landlords and expat investors who are looking for greater flexibility, larger loan sizes and products that reflect how the market is evolving.
“Increasing our maximum loan size to £750,000 gives brokers more options for larger cases, while the launch of these new fixed-rate SPV products helps support landlords who want a degree of payment certainty without necessarily committing to longer-term fixes.
“We’re also pleased to extend our expat proposition further by accepting applications from Hong Kong residents, an area where we continue to see growing interest in UK property investment.”
