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Buckinghamshire Building Society reintroduce ex-pat buy-to-let product

Buckinghamshire Building Society has relaunched its ex-pat buy-to-let product.

The mortgage deal is available at 70% loan-to-value (LTV) on a two-year discount at 3.99%. It includes a product fee of £999 and ERCs are set at 1% for the first year, falling to 0.5% during the second year. 

The product is offered to individual buy-to-let investors including first-time landlords or limited companies.

Data from the Office for National Statistics (ONS) shows that four million British people live overseas, with almost 800,000 based in Europe. 

Tim Vigeon, head of lending at Buckinghamshire Building Society, said: “We have no maximum age at entry or exit, which is something that is unique in the market.

“We have had a number of enquiries regarding this type of lending in the past, with people looking to rent out a UK property as part of their long-term financial planning.

“We have a list of accepted countries and the borrower must be either living or working in one of these.”

“Customers will of course be subject to our usual affordability criteria, and as long as they have a UK bank account from which to pay the mortgage and receive the rent, we believe this will prove, once again, a popular addition to our BTL offering.”

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