Buckinghamshire Building Society has expanded its buy-to-let (BTL) and holiday let proposition with higher loan limits and a wider selection of fixed rates.
The society has increased the maximum loan amount across its entire BTL and holiday let product range from £500,000 to £750,000.
Buckinghamshire Building Society will also now accept expat mortgage applications from residents in Hong Kong (excluding British National Overseas status), broadening access to its specialist expat proposition.
Alongside these changes, the society has launched a number of new limited company special purpose vehicle (SPV) products. These include a three-year fixed at 6.19% up to 80% loan to value (LTV) for standard BTL borrowers, an expat version priced at 6.29% and a holiday let two-year fix available up to 75% LTV priced at 6.09%, with an expat option priced at 6.19%. All deals come with a £1,500 fee.
Claire Askham (pictured), head of mortgage sales, 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.
Aldermore Insights with Jon Cooper: Edition 9 – Why lending strategy is becoming more central in buy to let
Sponsored by Aldermore
“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.”
Earlier this year, the society increased the LTV on expat BTLs to 80% and added discounted mortgage products to its range.
