Penrith Building Society is relaunching products for expat buy-to-let and holiday let, addressing rising rental demand.
- The building society introduces expat buy-to-let purchase, remortgage, and holiday let options in the UK.
- These products provide flexibility with up to 70% LTV and a maximum loan size of £450,000.
- A promotional free valuation is offered up to £1m on expat BTL remortgages.
- Market re-entry reflects Penrith’s success with similar products earlier this year.
Penrith Building Society has made a strategic decision to relaunch its suite of expat buy-to-let and holiday let mortgage products. This move comes in response to the increasing demand in the rental property sector. Designed with flexibility in mind, the society aims to offer competitive options that cater to both expats and those interested in holiday lets across England, Scotland, and Wales.
The range of relaunched products includes the expat buy-to-let purchase, expat buy-to-let remortgage, and holiday let options. These offerings are tailored to meet the needs of investors seeking opportunities in the UK rental market. The society has highlighted these products as a response to a growing market demand.
Tim Vigeon, head of products at Penrith Building Society, stated, “Following the success of these products earlier this year, we have relaunched these products to meet broker demand.” The decision to bring back these financial offerings reflects Penrith’s commitment to supporting the expat community within the buy-to-let and holiday let market.
The relaunched product line features a maximum loan-to-value (LTV) ratio of 70%, combined with a maximum loan size of £450,000. Moreover, the expat BTL remortgage option comes with an added benefit—a free valuation up to the value of £1 million, providing an attractive incentive for potential buyers. Top slicing is also available, should it be needed by borrowers.
Penrith Building Society’s resurgence in this sector signals a purposeful response to a sector showing robust demand. The lender is positioned to facilitate expats in the buy-to-let and holiday let space, capitalising on the burgeoning rental trend.
Penrith Building Society’s relaunch highlights its adaptability and commitment to the evolving rental market.
