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Mortgage roundup – products for expats, self-employed, and landlords

This week’s mortgage roundup showcases the benevolence of the mortgage sector, with The Cambridge relaunching its products for expats, while Newcastle Intermediaries launches a new range for the self-employed. Meanwhile, Aldermore introduces a new limited edition range to support landlords and Together unveils its lowest BTL mortgage rate.

The Cambridge relaunches expat buy-to-let mortgages

The Cambridge Building Society has introduced three buy-to-let (BTL) mortgage products to help UK expatriates living and working overseas, buy rental or holiday let properties in England and Wales.


These include a two-year fixed rate and a two-year discounted mortgage at 3.64%, and a five-year fixed-rate mortgage at 3.84%.

All are offered without application fees. There is no completion fee on the two-year discounted and £1,999 completion fees on the fixed-rate products.

Dan Barker, product manager of The Cambridge’s, comments: “I am delighted we have been able to re-enter the expat buy to let market this year, as it’s been on the ‘to do’ list for a while now.”

“These products offer competitive rates and increased choice, as well as the opportunity to add completion fees to the loan. And as we assess all applications on a case by case basis, we can offer as much flexibility as possible.”

The products are also available for experienced landlords who have a maximum of three mortgaged rental properties and who are not deemed portfolio landlords.

Loans can be considered up to 75% loan-to-value (LTV), between £20,000 and £750,000 and are available for purchases, remortgages, product switches and further advances.

Meanwhile, holiday lets are available up to £500,000, including Airbnb properties and for borrowers who occupy the property for up to a maximum of 90 days a year.

The Cambridge says it will not lend to any country on the financial sanctions list. All currencies considered.

Mortgages for newly self-employed borrowers relaunched

Newcastle Intermediaries has launched a new range of mortgages exclusively for self-employed applicants with just one year of full accounts.

The products are available to self-employed borrowers who have been trading for a maximum of two years with at least one year of financials available.

A two-year fixed rate of 2.55% (APR 3.8%) is available at 80% LTV, with a product fee of £999 payable. Alternatively, a two-year fixed rate of 2.75% (APR 3.8%) is also available at 80% LTV, and comes with free standard valuation up to £500,000.

Both products attract an early repayment charge of 2% until July 31 2023 and 1% until July 31 2024 but allow 10% overpayments per year.

Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society, says: “We’re committed to supporting customers who need a more flexible lending approach. We know newly self-employed applicants often have limited options available to them.”

“We also know there are a lot of successful self-employed traders who may only have started their business in the past few years, so these competitive new products along with our flexible approach to underwriting should provide brokers and their clients with much-needed choice.”

New limited edition BTL product launched by Aldermore

Aldermore Bank has announced a number of changes to its BTL mortgage range to support landlords in securing better deals for their portfolios.

Available as of Thursday March 3 2022:

New limited edition product for individual landlords with single residential properties:

  • Two year fixed rate mortgage: 2.68% to 75% LTV with 1.50% fee

Reduced products for individual landlords with single residential properties:

Two-year fixed rates reduced by 0.20%:

  • 3.18% to 75% LTV with 1.50% fee

  • 3.68% to 80% LTV with 1.50% fee

Five-year fixed rates reduced by 0.30%:

  • 3.68% to 80% LTV with 1.50% fee

Reduced products for individual and company landlords with single residential properties:

Two-year fixed rates reduced by 0.20%:

  • 3.18% to 75% LTV with 1.50% fee

  • 3.68% to 80% LTV with 1.50% fee

  • 3.28% to 75% LTV with £1999 fee

  • 3.78% to 80% LTV with £1999 fee

Five-year fixed rates reduced by 0.30%:

  • 3.18% to 75% LTV with 1.50% fee

  • 3.68% to 80% LTV with 1.50% fee

  • 3.28% to 75% LTV with £1999 fee

  • 3.78% to 80% LTV with £1999 fee

  • 3.48% to 75% LTV with £0 fee

  • 3.98% to 80% LTV with £0 fee

Reduced buy to let multi-property products for Individual and company landlords with single residential properties:

Two-year fixed rate reduced by 0.20%:

  • 2.98% to 75% LTV with 1.50% fee

Five-year fixed rates reduced by 0.30%:

  • 2.98% to 75% LTV with 1.50% fee

  • 3.28% to 75% LTV with £0 fee

Aldermore bank also offers free legal fees, free valuation and no funds transfer fee on remortgages. The products are available for purchase and remortgage through Aldermore’s residential and commercial mortgages portals.

Jon Cooper, head of mortgage distribution, Aldermore, explains: “We’re committed to supporting a robust private rented sector that provides quality and choice to tenants across the UK. Landlords, no matter how big or small, play a significant role in today’s housing market so we believe it’s important to ensure our products continually meet their needs and help them realise their ambitions.”

“Our latest changes will deliver greater choice for landlords in a time when many are looking at what their future portfolio strategy will be.”

Together launches its lowest BTL mortgage rate

Specialist lender Together has introduced a raft of changes to its buy-to-let products – including introducing its lowest ever rate – to help landlords looking to buy or refinance.

Rates on its first charge BTL range have been lowered from 4.99% to 4.49% - the lender’s lowest ever - while maximum remortgage and second charge LTVs have been raised from 70% to 75%, in response to fast-growing demand for its flexible products.

Together announced its five-year fixed BTL mortgage rates have also been cut from 5.49% to 4.99% and two-year fixed from 5.19% to 4.79%. Meanwhile, second charge BTL variable rates are now 5.99%, down from 6.99%, the joint lowest on the market.

Sundeep Patel, director of sales at Together, says: “We’re delighted to be able to offer our lowest ever rates as part of a series of changes to our BTL products.”

“The BTL lending market has become increasingly competitive since the start of the year with new entrants into this space and, in introducing these changes, we want to make sure that we’re offering the right solutions for clients at the right rates.

He adds: “At Together, we have spent a great deal of time getting invaluable feedback from our broker community so that we can simplify, improve and refine our award-winning products to make sure that intermediaries can provide their clients with the best outcomes.”

“Our product changes will allow them to achieve their ambitions, whether that’s buying their first rental property, remortgaging to a more competitive deal, or expanding an existing portfolio.”


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