Suffolk Building Society has announced the launch of a new five-year fixed expat buy-to-let product for properties with an Energy Performance Certificate (EPC) rating of A to C.

The new product is available on both purchase and remortgage cases for expat landlords.

The catalyst for the new product is the Government’s proposed requirement for all newly rented properties to have an EPC rating of C or above by 2025, followed by all existing tenancies by 2028.

 Product details:

•  5-Year Fixed Expat buy-to-let at 6.15% fixed for 60 months for properties with an EPC of A-C.
• The new product has a maximum LTV of 80%, a minimum loan size of £75k, and maximum loan size of £1m. There is an application fee of £199 and a completion fee of £1,499.

Charlotte Grimshaw, head of intermediary relations at Suffolk Building Society, said: “Expat landlords are likely to be less aware of the forthcoming changes than landlords who are based in the UK. We want to support expat landlords who are looking to purchase or remortgage a buy-to-let property with an EPC rating of A-C. This is ahead of the changes in legislation coming in 2025.

“We’re well known for our expat lending, so we’re pleased to be able to offer a 5-year fixed product that aligns with and takes future legislation into account. Indeed, helping to provide safe homes for people throughout the UK is an objective of the Society. We hope this product helps to support expat buy-to-let landlords with their purchase and remortgage of an energy efficient property, and that this, in turn, could help renters looking for similar homes.

 “We will continue to offer other buy-to-let products for expat landlords whose properties aren’t A-C at present. We will also be launching other products in the future which will help support landlords wanting to improve their buy-to-let EPCs through home improvements.”