The products, which will be launched on March 10, are a 2-year fixed rate and a 2-year discounted mortgage at 3.64%, and a 5-year fixed rate mortgage at 3.84%
To help UK expatriates, living and working overseas, buy rental or holiday let properties in England and Wales, Cambridge Building Society has introduced three buy-to-let mortgage products.
The products, which will be launched on March 10, are a 2-year fixed rate and a 2-year discounted mortgage at 3.64%, and a 5-year fixed rate mortgage at 3.84%.
All are offered without application fees, and there is no completion fee on the two-year discounted product. Completion fees on the fixed rate products cost £1,999.
“These products offer competitive rates, and increased choice, as well as the opportunity to add completion fees to the loan. And as we assess all applications on a case-by-case basis, we can offer as much flexibility as possible,” Dan Barker, product manager at Cambridge Building Society, said.
Read more: The Cambridge cuts rates and fees.
The building society said the products are made available for experienced landlords who have a maximum of three mortgaged rental properties and who are not deemed portfolio landlords.
Loans can be considered up to 75% loan to value, between £20,000 and £750,000 and are available for purchases, remortgages, product switches, and further advances.
Holiday lets are available up to £500,000, including Airbnb properties, and for borrowers who occupy the property for up to a maximum of 90 days a year.
