The Cambridge Building Society has announced the introduction of a new Limited Company Buy to Let Holiday Let mortgage to complement its current Limited Company Buy to Let offering.
The new product is a 5-year fixed rate available up to 80% loan to value with a rate of 5.78%, an income coverage ratio of 125% at payrate and a completion fee of £999 which can be added to the loan.
The Cambridge continues to offer the following Buy to Let propositions up to 80% loan to value with an income coverage ratio of 140% at payrate provided a 5-year product is selected or product rate plus 2% if a 2-year product is chosen..
Standard Buy to Let – top slicing can be used to aid affordability provided not a First Time Landlord
Holiday Let – airbnb can be considered and the property can be lived in for 90 days per year
Expat – most countries can be considered – a UK bank account and correspondence address must have been maintained for 2 years
Portfolio landlords can be considered - no limit on the number of properties in the background portfolio – maximum number of 10 properties or £4m with The Cambridge
There is a minimum income, across the Buy to Let rang, of £25,000 or sterling equivalent if an Expat product is chosen.
A Buy to Let calculator and criteria can be found on their website cambridgeforintermediaries.co.uk The team can be contacted, with any questions you may have, by ringing 0345 601 2744.