3.99% Ex-Pat Buy to Let 2 year discount [EX04]

Fees

• There is no application fee.
• Product fee £999. 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

Europe

Currently not accepting applications from expats residing in Europe.

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, Hong Kong, 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 below.

Ex-Pat BTL affordability calculator

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.

Proof of Income

• Contract of employment required.
• Applicants must be UK Passport holders.
• Proof of current address abroad to be provided.
• Completed Budget Planner.
• Certified photographic proof of identity.

We will carry out electronic verification to prove the applicant's identity, but we may also ask for documentary evidence of identity. This can include the applicant's latest mortgage statement, certified proof of residency or other loan or card statements.

References may be taken up and credit searches will be made. Cases may be declined due to previous adverse credit or information that is not disclosed on the application form.

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.

Insurance

We recommend that the applicant has buildings insurance on the property. It is not a requirement to buy any insurance through Buckinghamshire Building Society.

Portability

This product is not portable.

Property type

Standard construction houses or flats. For leasehold properties the Society requires a minimum unexpired period of 85 years at the time of purchase and at least 55 years unexpired lease remaining after the expected redemption date. Flats over 4 storeys may be considered on an individual basis but are not acceptable if they are local authority or ex-local authority.

For new build properties the Society requires a minimum lease term of 125 years, a maximum starting ground rent of 0.1% of the property value and no unreasonable ground rent escalators or other event fees.

Interest

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