Expat Buy To Let Mortgages
With lenders terms and criteria changing frequently please complete our online mortgage enquiry form. This will enable us to let you know which of the which of the current terms we can obtain for you. UK Bank base rate 0.5% -
17/09/09 3 month LIBOR 0.5662%.
Details of the current terms that we can arrange for buy to let mortgages.
February 2010
| Special schemes available to expat buyers and
UK residents for UK buy to let property and in some cases,
foreign nationals, for the purchase, or refinancing, of
property, for family use, or commercial letting under the
shorthold tenancy act. |
Common
Denominators |
- Loan to value usually 70%/80% maximum.
- New purchases and re-mortgages generally
available including capital raising for additional property
investment
- Letting under
Shorthold Tenancy Act required - 6 or 12 months. Generally no DSS or
multiple tenancies. Ex local authority properties and student lets
limited range of lenders.
- Most lenders have imposed restrictions on newly built property
|
| Lender |
Interest Rate % |
Max %
Advance |
Lenders Arrangement
Fee £/% |
Loan to Foreign National |
Special Features |
| BM SOLUTIONS |
5.40% 3 year fix |
60% |
2.5% |
NO |
Applicant must work for Govt Agency or Multi National Company. |
| HSBC |
Foreign currency loans
Libor + 1.25%
|
65% Interest only
above that repayment only
|
£399 |
YES |
Applicants need to be in salaried
employment or professional occupations such as Dr’s, Dentists,
Solicitors or Accountants |
IPSWICH
BUILDING
SOCIETY |
5.49% |
75% |
£795 |
NO |
|
IRISH
PERMANENT |
Base +3.00%
Base +2.75% |
70% 70% |
1% 1% |
NO
NO |
| ROYAL BANK OF SCOTLAND INTL |
Base plus
3.24% / 3.39% 2 year tracker
|
65% Repayment only
60% Interest only |
1% |
YES |
Minimum loan £75,000. Will lend on new build flats maximum 55% repayment basis and 50% interest only |
-
Interest only and repayment loans
available.
-
Property restrictions -
Ex-Council and properties over commercial premises always a problem.
Rental income to cover mortgage by 120/140% for non UK residents/foreign
nationals.
-
Loans usually portable
without incurring early repayment penalties.
-
All fees quoted are
payable to the lender and are usually added to the loan.
-
International Mortgage
Plans (IMP) charge an arrangement fee of .25% subject to a minimum of
£250 and a maximum of £500. Our fee is only payable when we have obtained an acceptable mortgage offer from the lender.
Mortgage Enquiry Form
Back to IMP Homepage
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