Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.
Buckinghamshire BS Raises BTL and Holiday Let Loan Limits, Adds New Fixed Rates
Buckinghamshire Building Society has expanded its buy-to-let (BTL) and holiday let mortgage range by increasing maximum loan amounts and launching new fixed rate products. The society has also widened its expat mortgage offering to include applications from residents in Hong Kong (excluding British National Overseas status).
The maximum loan amount for BTL and holiday let mortgages has been raised from £500,000 to £750,000 across the entire product range. This change applies to both standard and expat borrowers, providing more flexibility for larger property investments.
Buckinghamshire Building Society has introduced several new limited company special purpose vehicle (SPV) products. These include a three-year fixed rate at 6.19% up to 80% loan to value (LTV) for standard BTL borrowers, an expat version at 6.29%, and a holiday let two-year fixed rate at 6.09% up to 75% LTV, with an expat option at 6.19%. All of these products come with a £1,500 fee.
The society will now accept expat mortgage applications from residents in Hong Kong, further broadening access to its specialist expat proposition. Earlier in the year, Buckinghamshire Building Society increased the LTV on expat BTLs to 80% and added discounted mortgage products to its range.
These changes may be relevant to UK letting agents and inventory clerks working with landlords and investors seeking larger loans or new fixed rate options, including those operating through limited companies or based overseas.
Source: Mortgage Solutions