Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.
Buckinghamshire Building Society Expands BTL and Holiday Let Products
Buckinghamshire Building Society has expanded its buy-to-let, holiday let, and expat lending proposition. The changes include increased maximum loan sizes, new fixed-rate products, and broader eligibility for expat borrowers.
Effective immediately, the maximum loan amount across the society’s entire buy-to-let (BTL) and holiday let product range has increased from £500,000 to £750,000. This change is designed to provide brokers with greater flexibility for investment cases.
The lender has also reintroduced selected fixed-rate products and launched new limited company special purpose vehicle (SPV) products. The new offerings include:
- BTL three-year fixed at 6.19% up to 80% loan-to-value (LTV)
- Expat BTL three-year fixed at 6.29% up to 80% LTV
- Holiday Let two-year fixed at 6.09% up to 75% LTV
- Expat Holiday Let two-year fixed at 6.19% up to 75% LTV
All of these products carry a £1,500 fee.
Additionally, Buckinghamshire Building Society will now accept expat mortgage applications from residents in Hong Kong (excluding BNO status), further broadening access to its specialist expat proposition.
These changes may be of interest to UK letting agents and inventory clerks working with landlords and investors seeking larger loans or new fixed-rate options for buy-to-let and holiday let properties.
Source: Mortgage Strategy