The Mortgage Lender has launched its first expat buy-to-let products.
The products are available to expats with a minimum £40,000 employed (£60,000 self-employed) equivalent income and on a capital and interest, part and part or interest-only basis.
Available for both purchase and remortgage applications, initial rates start at 3.95% for a two-year fixed rate at 70% loan to value and 4.35% for a five-year fixed rate at 70% loan to value.
To qualify applicants must be able to pay the mortgage from a UK bank account and have an agent or family in the UK who can oversee the property.
Peter Beaumont (pictured), The Mortgage Lender deputy chief executive, said: “There has been a 30% rise in the demand for expat buy-to-let mortgages year on year and our new range, which is available up to 75% loan to value, meets the increase in demand from expat landlords and gives buy-to-let brokers more choice for their customers.”
The expat buy-to-let products are available to the whole of the market, have a £150 application fee, a 2% completion fee and a maximum loan of £750,000.