Expat Buy to Let 3 Year Discounted Rate Mortgage

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3.09% initial rate
75% Max LTV
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Take advantage of a discount for 3 years

You will pay our variable rate of 3.09% (2.80% off our BTLVR) for 3 years, then revert to our Buy to Let Variable Rate (BTLVR) for the rest of the mortgage term – currently 5.89%.

The overall cost for comparison in 5.2% APRC.

The minimum deposit you will need at this rate is 25% of the purchase price.

Representative example

A mortgage of £169,876.00 payable over 19 years initially on a discounted variable rate for 3 years at 3.09% and then on our Buy to Let Variable Rate of 5.89% for the remaining 16 years would require 36 monthly payments of £996.84 and 192 monthly payments of £1,214.73.

The total amount payable would be £269,114.40 made up of the loan amount plus interest (£97,213.40), a completion fee of £2,000.00 and a mortgage funds release fee of £25.00.

This example assumes the completion fee and mortgage funds release fee are added to the loan and that interest is charged on these fees over the mortgage term.

The overall cost for comparison is 5.2% APRC representative.

Fees

Based on a property worth

Based on the information you've provided the fees you would have to pay are:

There are no application fees to pay

£2,000.00 completion fee
which can be paid upfront or added to the loan (if added to the loan we'll charge interest on the fee during the term of the loan)

£0.00 product switch fee
which can be paid upfront or added to the loan (if added to the loan we'll charge interest on the fee during the term of the loan)

£0.00 Further advance 'completion' fee
which can be paid upfront or added to the loan (if added to the loan we'll charge interest on the fee during the term of the loan)

A valuation isn't normally required for a product switch.
If you want to do more than a product switch, like change your LTV it might be best to have a new valuation, take a look at our guide for more information.

When borrowing additional funds you may require a revaluation if the value of your property has changed since you originally took your mortgage out with us. If substantial changes have been made to your property you may require a full standard valuation, take a look at our guide for more information.

We will pay for a standard valuation. There are other types of valuations available, for more information on these, why we need a valuation and what we use it for take a look at our guide

We will pay for a standard valuation. There are other types of valuations available, for more information on these, why we need a valuation and what we use it for take a look at our guide

Based on a property worth

We do not lend on properties worth less than £120,000.
Please check and try again.

Early repayment charges

These are the charges that will apply to your mortgage if you want to overpay or repay early.

Can I make overpayments?

While in your discounted rate term you can make overpayments of up to 10% of your mortgage balance during every 12 month period without having to pay an early repayment charge.

This 10% overpayment allowance is calculated using the balance of your mortgage at the time it completes. Each 12 month period starts on the anniversary of your mortgage completing.

If you choose a new mortgage deal with us at any point we’ll use this balance and date to calculate your overpayment allowance.

During the discounted rate term, any amount repaid over 10% of your mortgage completion date balance will incur an early repayment charge equal to 1% of the excess overpayment each year.

What if I want to repay early?

If you switch your loan to another lender, a different mortgage deal with us, or repay it in full before the end of the discounted rate term, you’ll have to pay an early repayment charge equal to 1% of the excess overpayment each year.

What if I want to move home?

If you move house during the discounted rate term you may transfer the balance and remaining term of the discounted mortgage to your next home, without penalty. These requests will be subject to our underwriting criteria and the terms can't be extended to any further borrowing if the product has been withdrawn.

What happens at the end of my discounted rate deal?

At the end of the discounted rate term, your mortgage will revert to our Cambridge Variable Mortgage and you’ll pay our Standard Variable Rate for the remainder of the mortgage term. From this point you’ll be able to make as many overpayments as you like without incurring any early repayment charges. We’ll write to you when your discounted rate comes to an end to provide you with details of our Cambridge Variable Mortgage.

Eligibility

Before we agree your mortgage we’ll need to establish that you can afford to meet the monthly payment.

This mortgage is available on Buy to Let properties located in England and Wales.

This mortgage is available for Buy to Let purchases and remortgaging.

Buy to Let mortgages for expatriates will be considered on a case by case basis. All expats must as a minimum have a UK bank account and UK correspondence address.

Features

  • Borrow up to 75% of the property's value
  • Rental income must be at least 140% of the monthly mortgage interest payment based on an interest rate of 5.50% 

Please note

  • Buy to Let Mortgages are not regulated by the FCA
  • The property must be let on an Assured Shorthold Tenancy (AST) agreement. Our normal requirements are for a minimum term of six months and a maximum term of one year
  • We regret that we're unable to lend on Houses in Multiple Occupation (HMOs)
  • Each individual borrower will be limited to a maximum portfolio size of five Buy to Let properties with The Cambridge Building Society. The total portfolio must not exceed £2,000,000 of borrowing

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

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