The Cambridge launches limited company buy-to-let range

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The Cambridge Building Society has entered the limited company buy-to-let market, expanding its specialist lending range which already includes products for holiday lets and expatriate borrowers.

The new offering caters for portfolio landlords and has no cap on the number of properties that can be held within a background portfolio.

Borrowers may hold up to 10 properties directly with the society or a maximum total borrowing value of £4 million.

Directors’ guarantees will be required for each mortgaged property, and applicants will need to obtain independent legal advice.

The society will lend up to 80% of a property’s value, with up to four applicants permitted and a maximum individual loan size of £1 million.

The launch includes three five-year fixed rate products, each assessed at pay rate with an income coverage ratio of 125%.

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