3 year fixed rate ex-pat buy to let

Fixed until 31/03/2023

Early Repayment Charges apply.

This product may be withdrawn at any time.

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.
booking fee
This fee must be paid when you apply for your mortgage.
no fee
initial rate
3.29% fixed until 31 March 2023
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.
the overall cost for comparison is 5.4% APRC

Product key features

Who's the product for?

Our ex-pat buy to let products are available to British 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 the current exception of Russia. Please contact us directly to discuss acceptable countries.

You must be aged 21 or over and the term can’t go beyond the eldest borrowers 85th birthday. You must also earn at least £20,000, or local currency equivalent. If you’re a self-employed professional landlord, we’ll accept rental income as your 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. Your mortgage payments and rental payments must be serviced by the same UK bank account.

Experienced landlords and self-employed

If you’ve currently got a buy to let property, or you’ve had one in the last 12 months we’ll happily accept you as an experienced landlord. For basic rate tax-payers, expected rental income must cover 125% of the mortgage payment amount on a rate of 5.5%* and this increases to 130% of the mortgage payment amount on a rate of 5.5%* for higher rate taxpayers.

*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. If you’re a basic rate tax-payer then rental income must cover 140% of the mortgage payment amount on a rate of 5.5%*. For higher rate taxpayers, rental income coverage increases to 145% of the mortgage payment amount on a rate of 5.5%*.

*or the applicable fixed rate if 5 years or longer.

Portfolio size

If your portfolio is less than four mortgaged buy to let properties when the mortgage completes then we can help. We don't have a limit on the overall portfolio size, but a maximum limit of £1million held on mortgage with us does apply (including residential lending).

General exclusions

The following application types aren’t accepted:

  • Studio or one bedroom apartments;
  • Local authority flats, flats in block of more than five 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, student let or sub-letting.
Product related fees

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

If you choose to add the fee to your mortgage you'll pay interest on the fee at the same rate as your mortgage.

Product incentives

Legal fees cashback: You will receive £150 cashback from the society towards your legal costs.

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.

Mortgage amounts

There is a minimum mortgage amount of £50,000.

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%.

Mortgage repayment terms

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

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:

  • 4% of the amount repaid until 31/03/2020;
  • 3% of the amount repaid until 31/03/2021;
  • 2% of the amount repaid until 31/03/2022; and
  • 1% of the amount repaid until 31/03/2023.
Mortgage tariff of charges

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

Representative example

A mortgage of £121,500 payable over 25 years on a 3.29% fixed rate to 31 March 2023 and then our BTLVR, currently 5.74%, for the remaining term would require an initial payment of £348.37 followed by 36 monthly payments of £337.28 and 263 monthly payments of £588.41.

The total amount payable would be £290,411.03 made up of the mortgage amount plus interest (£168,761.03) with a mortgage arrangement fee of £1,518.75, a telegraphic transfer fee of £25 and mortgage exit fees of £125.

The overall cost for comparison is 5.4% APRC representative.

Zoe, from our mortgage team is happy to help 0121 557 2551* Contact Us
Our lines are open:
Monday - Tuesday09:00 - 17:00
Wednesday09:30 - 17:00
Thursday - Friday09:00 - 17:00
Saturday09:00 - 12:00
*Calls from landlines are charged at the standard rate. Calls from mobiles may vary.

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

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