"Our new range of expat limited company BTL products is the natural next step in the continual development of our BTL product range"
- Darren Deacon - Family Building Society
Family Building Society has announced that it has introduced a new set of 2 and 5-year fixed-rate products for buy-to-let limited company landlords. The products are available to companies registered in the UK with expat shareholders or directors based in a range of approved countries.
The new range is open to purchase and remortgage cases up to 75% LTV and can be taken on a repayment or interest-only basis.
Rates include:
2-year expat limited company fixed rate at 5.34%
5-year expat limited company fixed rate at 5.59%
Alongside the launch, the lender has made wider changes across its portfolio.
2-year fixed rates in the existing buy-to-let range have been reduced by 10bps.
5-year fixed rates in the same range have been cut by 5bps.
Owner-occupier repayment products on 2 and 3-year terms have been reduced by 10bps.
The 2-year fixed joint borrower sole proprietor product has been cut by 10bps.
Managed mortgage rates and discounted variable rates will fall by 0.25% from 1 October.
“Our new range of expat limited company BTL products is the natural next step in the continual development of our BTL product range," comments Darren Deacon, head of intermediary sales at the society. "Catering for expat directors and company shareholders working and living abroad provides greater flexibility for company landlords who own property in the UK but may be working or living abroad."
He added, “Alongside a £500 cashback available for 5-year remortgage applications and fee-free valuation for properties up to £500k, I’m sure this new range, alongside our reductions in our existing BTL range, will be welcomed by intermediaries in search of more options for their UK and expat clients.”
