Buckinghamshire Building Society has increased the maximum loan-to-value on its expat buy-to-let mortgages to 80% while introducing two new fixed rate products for personal and limited company borrowers.
The mutual has raised the maximum LTV on its expat buy-to-let range from 75% to 80%, a move aimed at giving brokers greater flexibility when placing cases for overseas landlords investing in UK property.
Alongside the LTV increase, the Society has launched two new products, both offering a fixed rate until 31 May 2028 and available to both personal applicants and limited company special purpose vehicles.
The Everyday Expat buy-to-let product is priced at 5.79%, while the Expat buy-to-let Ltd Co SPV option is available at 5.89%.
The products are intended to provide short- to medium-term rate certainty for landlords while retaining the Society’s manually underwritten approach.
PROPERTY CRITERIA EXPANDED
Buckinghamshire Building Society has also expanded its property criteria for flats and apartments.
The lender will now consider properties in blocks of up to 10 storeys, increased from the previous limit of six storeys. The change is expected to widen the scope for landlords targeting city centre and higher-density locations.
For ex-local authority properties, the maximum building height remains capped at four storeys.
The Society said all applications will continue to be assessed on a manual basis, allowing underwriters to consider the specifics of each borrower and property.
MORE SCOPE
Claire Askham (pictured), head of mortgage sales at Buckinghamshire Building Society, said: “Expat landlords are a key part of the UK investment landscape, but they don’t always fit neatly into high street criteria – particularly when it comes to higher LTVs.
“By increasing our maximum LTV to 80% and expanding our appetite for flats in taller blocks, we’re giving brokers more scope to place cases that might otherwise stall.
“As always, we take a common-sense, case-by-case approach.
“Our manual underwriting means we can look beyond the headline details and work with brokers to find solutions that are right for their clients.”
