Cambridge Building Society has announced it is re-entering to the expat buy-to-let (BTL) market.
The society has launched a two-year discounted mortgage of 4.89% and a five-year fixed rate of 6.09%.
There is no early repayment charge on the two-year mortgage and loans will be considered up to 75% property value, while The Cambridge also revealed that the offering will include a minimum employed income requirement of £25,000.
All of the society’s products have a minimum loan size of £75,000 and a maximum of £750,000. Application and completion fees will be applied. Applicants must have a UK bank account and a UK correspondence address to qualify for a mortgage from The Cambridge.
Intermediary manager at The Cambridge, Kathy Bowes, commented: “We are delighted to introduce these products into the expat mortgage market.
“There are few lenders offering mortgages to this group, so we want to ensure we are here to help and to make products available to a broad range of customers.”
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