Penrith BS re-enters expat buy-to-let and holiday let markets

Penrith Building Society has announced the relaunch of three mortgage products: expat buy-to-let purchase and remortgage and expat holiday let, available in England, Scotland, and Wales. 

The maximum LTV is 70% and all products have a maximum loan size of £450,000. 

The expat buy-to-let remortgage product also comes with a free valuation and top slicing is available across the range.

Last month, the Society re-entered the expat residential and foreign currency markets after withdrawing the products from sale in July. The expat/foreign currency range offers an increased LTV of 80%, a reduced minimum loan amount of £50,000, and an interest-only option. Both products are also available on a joint borrower sole proprietor basis.

Tim Vigeon, head of products at Penrith Building Society, said: “Following the success of these product earlier this year, we have relaunched these products to meet broker demand. 

"We are delighted to be able bring these expat products back to market and look forward to helping expats in the buy-to-let and holiday let space.”