Dudley Building Society has launched a five-year fixed-rate expat buy-to-let (BTL) products with rates reducing across the range by up to 81 basis points.
The new products include an expat BTL five-year fixed at 70% LTV with a rate of 5.59% (capital and interest, interest only, or part and part).
There will also be a new expat BTL five-year fixed at 80% LTV with a rate of 5.89% (capital and interest, interest only, or part and part).
Both products have a £1,999 arrangement fee, and an early repayment charge of 4%, 3%, 2%, 1%, 1% over the five-year term. Borrowers can make overpayments of up to 10% per year without penalty.
The 70% LTV product represents a rate cut of 81bps, down from 6.40%, while the 80% LTV option provides higher leverage for brokers working with clients looking to expand or refinance their portfolios.
Dudley Building Society distribution director Rob Oliver says: “We’ve seen steady demand from brokers placing expat BTL cases, and these new five-year fixed rates are a direct response to that.”
“The rate reductions will help brokers provide better value options to their clients, while our manual underwriting approach means we can consider cases on their individual merits.”
