arrangement fee
This can be paid up-front or added to the mortgage. Bear in mind that if you add the fee to your mortgage, you'll pay interest on it at the same rate as your mortgage and as a result will pay more interest over the term of your mortgage.
1.25%
booking fee
This fee must be paid when you apply for your mortgage.
no fee
initial rate
2.70% discount from our Buy To Let Variable Rate for 3 years
2.74%
followed by our BTLVR
Our Buy To Let Variable Rate (or BTLVR) reflects our cost of lending using a number of factors, including the Bank of England Base Rate. As the BTLVR is a variable rate it can change at any time.
5.44%
the overall cost for comparison is 5.1% APRC

Discounted for 3 years . Early Repayment Charges apply. . This product may be withdrawn at any time.

Product key features

Who's the product for?

Our ex-pat buy to let products are available to expatriates residing in countries that are included in the Financial Action Task Force (FATF) approved list and the UAE (subject to individual case assessment) with some exceptions. Please contact us directly to discuss acceptable countries.
Your client must be aged 21 or over and the term can’t run beyond the eldest borrowers 85th birthday.
You must also earn at least £20,000, or local currency equivalent. If you are a self-employed professional landlord, we’ll accept rental income as a source of income.
You must hold a valid notice address in the UK. A solicitor's or family member's address is acceptable.
You must also hold a UK bank account. The mortgage payments and rental payments must be serviced by the same UK bank account.

Experienced landlords and self-employed
If you currently have a buy to let property, or if you have had one in the last 12 months we’ll accept you as an experienced landlord.
Expected rental income must cover 125% of the mortgage payment amount on a rate of 5.5%*.
*or the applicable fixed rate if 5 years or longer.

First time landlords
If you have not held a property on a buy to let basis during the previous 12 months, we will class you as a first time landlord.
The rental income must cover 140% of the mortgage payment amount on a rate of 5.5%*.
*or the applicable fixed rate if 5 years or longer.

Portfolio size
We will consider the application as long as your portfolio does not exceed three mortgaged properties upon completion across all lenders.

General exclusions
The following application types aren’t accepted:

  • Studio or one bedroom apartments;
  • Local authority flats, flats in block of more than four storeys or flats above commercial premises;
  • Applications from limited companies;
  • Applications where you’ll occupy the property either now or in the future, will be let to a family member, or where up to 40% is occupied by the owner with the remainder let; and
  • Multiple occupancy lets, DSS tenants, student let or sub-letting.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Product related fees

There is an arrangement fee of 1.25% of the mortgage balance that can be deducted from the mortgage amount or added to the amount borrowed.

Please note, if you choose to add the fee to your mortgage, interest will be charged at the same rate as the mortgage.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Product incentives

Valuation fee contribution: We'll cover the cost of one standard mortgage valuation on a property valued up to £400,000, which is equivalent to £350 contribution towards the cost of a standard valuation. You can choose to have a RICS Homebuyers Report, however you'll have to cover the difference in cost.

Legal fees cashback: You will receive £250 cashback from the society towards your legal costs.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Mortgage amounts and interest rate floor

There is a minimum mortgage amount of £100,000.

The maximum loan amounts are:

  • Up to 70% loan to value = £500,000
  • Up to 60% loan to value = £700,000
  • Up to 50% loan to value = £950,000

The maximum loan to value is 70%.

The interest rate is floored meaning it cannot fall below 2.74%.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Mortgage repayment terms

You can repay your mortgage over a minimum of 5 years and a maximum of 35 years.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Early Repayment Charges

You can overpay up to 10% of the original mortgage amount each year.

Any overpayments taking you over this allowance will be subject to the full Early Repayment Charge. The Early Repayment Charge will be:

  • 3% of the amount repaid during the first year;
  • 2% of the amount repaid during the second year; and
  • 1% of the amount repaid during the third year.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Mortgage tariff of charges

The mortgage tariff of charges details the various fees and charges that may apply during the term of your mortgage.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Representative example

A mortgage of £105,875 payable over 25 years on a discounted variable rate for 3 years, currently 2.74% (equal to a 2.70% discount from our BTLVR) and then our BTLVR, currently 5.44%, for the remaining term would require an initial payment of £252.84 followed by 29 monthly payments of £244.77 and 270 monthly payments of £486.02.

The total amount payable would be £245,925.01 made up of the mortgage amount plus interest (£139,900.01) with a mortgage arrangement fee of £1,323.44, a telegraphic transfer fee of £25 and mortgage exit fees of £125.

The overall cost for comparison is 5.1% APRC representative.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Here to help you...

  • Discuss your options
  • Answer any of your buy to let questions
  • Help you understand our rental income requirements
  • Talk through our lending criteria
Zoe, from our mortgage team is happy to help 0121 557 2551*
Our lines are open:
Monday - Tuesday09:00 - 17:00
Wednesday09:30 - 17:00
Thursday - Friday09:00 - 17:00
Saturday09:00 - 12:00
SundayClosed
*Calls from landlines are charged at the standard rate. Calls from mobiles may vary.

Your property may be repossessed if you do not keep up repayments on your mortgage.