Cambridge re-enters expat mortgage market

Cambridge Building Society has returned to the expatriate buy-to-let market with a two-year discounted mortgage of 4.89% and a five-year fixed rate of 6.09%.

There is no early repayment charge on the two-year mortgage and loans will be considered up to 75% property value.

Other advantages include a minimum employed income requirement of just £25,000.

Applicants must have a UK bank account and a UK correspondence address to qualify for a mortgage from The Cambridge.

All unsanctioned countries and currencies will be considered at the Society’s underwriters’ discretion.

All products have a minimum loan size of £75,000 with a maximum of £750,000. Application and completion fees will be applied.

Intermediary manager, Kathy Bowes, said: “We are delighted to introduce these products into the expat mortgage market.

“There are few lenders offering mortgages to this group, so we want to ensure we are here to help and to make products available to a broad range of customers.”