Beverley Building Society has launched two buy-to-let (BTL) mortgage products to assist UK residents and expats.
Its variable rate BTL for UK customers is available at 5.64% with a maximum loan-to-value (LTV) and a completion fee of £995.
Meanwhile, the expat BTL is available at a variable rate of 6.04% with a maximum LTV of 70% and completion fee of £995.
The society says it has introduced the new products in response to the growing demand from landlords looking for competitive lending solutions to maximise their investment.
According to recent BTL statistics from Uswitch, £8.5bn worth of properties were bought by UK landlords in the first quarter of 2022 alone.
The Beverley’s products are designed to help both new and existing landlords up to a total of three buy-to-let properties per client.
They are also available for non-owner occupiers.
A minimum application income of £20,000 per annum is required for the BTL product, and £40,000 per annum for the expat.
Beverley Building Society’s head of new lending, Simon Glass, says the new products will empower aspiring property investors to achieve their financial goals.
He adds: “This strategic expansion marks a significant milestone in our mission to provide accessible and tailored mortgage products to a broader range of customers.”
