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3.99% Ex-Pat Buy to Let 2 year discount [EX06]

Follow on rate BTL SVR currently 5.49%. The overall cost for comparison is 5.4% APRC

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Designed for Ex-Pat borrowers with an investment property based in England or Wales.

Buy to Let mortgages are exempt from Financial Conduct Authority Rules.

With effect from 2nd October 2020, we are temporarily not accepting applications from expats residing in Europe and Hong Kong.

  • Up to 75% LTV
  • Available to private landlords or limited companies
  • 1st time landlords accepted

Designed for Ex-Pat borrowers with an investment property based in England or Wales.

Buy to Let mortgages are exempt from Financial Conduct Authority Rules.

With effect from 2nd October 2020, we are temporarily not accepting applications from expats residing in Europe and Hong Kong.

  • Initial Rate, a discount of 1.50% from our BTL SVR for 2 years
    3.99% variable
  • Followed by our Buy To Let Standard Variable Rate (BTL SVR) for the rest of the term
    5.49% variable
  • The overall cost for comparison is
    5.4% APRC
  • Maximum Loan to Value
    75% including fees
  • Application Fee
    None
  • Product Fee, which can be added to the loan.
    £1,195
  • Early Redemption charge
    Charges will apply to any lump sum or full redemption paid over 10% of the capital balance
    1.0% in year 1
    0.5% in year 2
  • Up to 75% LTV
  • Available to private landlords or limited companies
  • 1st time landlords accepted

Representative Example

A mortgage of £328,000 payable over 20 years initially on a discount of 1.50% from our Buy to Let Standard Variable Rate (SVR), currently 5.49%, giving a pay rate of 3.99% for 2 years and then on our Buy to Let Standard Variable Rate of 5.49%, for the remaining 18 years would require 24 payments of £1,094.66 and 216 payments of £1,506.18.
The total amount payable would be £681,714.72 made up of the loan amount plus interest (£351,606.72), a valuation fee (£640), a funds transfer fee (£25), a product fee (£1,195), solicitors fees (£148) and an exit fee (£100).
The overall cost for comparison is 5.4% APRC representative.

Further Information

Fees

  • There is no application fee.
  • Product fee £1,195. This may be added to the loan subject to the maximum LTV.
  • Valuation fees are payable on a set scale as detailed in the separate Fees Guide.
  • Solicitors fees are not based on a set scale and solicitors must be approved by Buckinghamshire Building Society.
  • Proc fees are 0.4% up to a maximum of £4,000.

Other charges may be made in respect of mortgage services. See our Fees Guide for details.

Acceptable Credit Criteria

This product accepts our standard credit criteria click here for details

Acceptable countries where applicants are residing in

Middle East

United Arab Emirates, Jordan and Qatar

Americas

Bahamas, Barbados, Canada, Chile, Costa Rica, Dominica, Grenada, Saint Lucia, Saint Vincent & Grenadines, Uruguay and USA.

Asia

Bhutan, Brunei, Japan, Malaysia, Singapore, South Korea and Taiwan.

Australasia

Australia and New Zealand.

Africa

Botswana, Cape Verde, Lesotho, Mauritius, Namibia, Rwanda, Sao Tome & Principe, Senegal, Seychelles and South Africa.

For any other country, please contact us.

Early Repayment Charge (ERC)

Early Repayment Charges as detailed below are payable on any lump sum or full redemption repaid over 10% of the capital balance.

1.00% in year 1
0.50% in year 2

Overpayments

During the early repayment charge period lump sum overpayments up to 10% of the capital balance per annum may be made without attracting an early repayment charge. Should the total of lump sum overpayments exceed 10% within this period, the excess will attract an early repayment charge.

Once the early repayment charge period has ended overpayments can be made at any time.
If an overpayment of £500 or more is made, we will recalculate the monthly payment the following month.

Affordability

Enter the client's details into the affordability calculator and assessment below.

Ex-Pat BTL affordability calculator and assessment form

If your columns are red then please contact us as other product options may be available. Minimum income £25,000.

Repayment

This mortgage is available on a capital and interest repayment basis or interest only with a suitable repayment vehicle.

Payments must be made monthly by direct debit from a UK Bank account and paid to the Society in sterling only.

Age Limits

The minimum age is 21 for all applicants. There is no maximum age.  Cases are considered on individual circumstances.

Loan Size

Minimum loan size £50,000.
Maximum loan size £500,000.

Mortgage Term

The maximum mortgage term is 40 years dependent on individual circumstances.

Energy Performance Certificate (EPC)

All BTL properties being mortgaged to the Society require an EPC rating of between A and E. The Society will not lend on properties with an EPC rating of F and G.

Portability

This product is not portable.

Interest

Interest is calculated daily on the balance outstanding and added to the account the following month.