Airbnb and buy to let mortgages for ex-pat investors

There’s more evidence of ex-pats re-entering the buy to let and holiday let markets.

The Cambridge Building Society has introduced three buy to let mortgage products to help UK expatriates living and working overseas, buy rental or holiday let properties in England and Wales.

They are a two-year Fixed Rate and a two-year Discounted mortgage at 3.64 per cent and a five-year Fixed Rate mortgage at 3.84 per cent.

All are offered without application fees. There is no completion fee on the two-year Discounted and £1,999 completion fees on the Fixed Rate products.

The Cambridge’s project manager, Dan Barker, says: “These products offer competitive rates, and increased choice, as well as the opportunity to add completion fees to the loan. And as we assess all applications on a case by case basis, we can offer as much flexibility as possible.”

These products are available for experienced landlords who have a maximum of three mortgaged rental properties and who are not deemed portfolio landlords.

Loans can be considered up to 75 per cent loan to value, between £20,000 and £750,000 and are available for purchases, remortgages, product switches and further advances.

Holiday lets are available up to £500,000, including Airbnb properties and for borrowers who occupy the property for up to a maximum of 90 days a year.

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