Expatriate Mortgages

EXCLUSIVE EXPATRIATE SCHEMES

IMP Expat schemes funded by IPSWICH BUILDING SOCIETY
Purchases and Remortgages - June 2010

SCHEMES 1 & 2 property to be occupied by IMMEDIATE FAMILY and NOT LET.
Family occupation can include parents/children, parents and siblings. Student children can join with expat parents in purchases.

SCHEME 1   - 2 year BASE RATE TRACKER - 75% MAXIMUM LOAN TO VALUE  
                  

♦  Current pay rate 3.69%. Bank base plus 3.19% margin to 1/8/2012. Interest rate reverts to Standard variable rate at 1/8/2012 

♦  Interest calculated daily. 

♦ Overpayments Allowed

♦  Interest only or capital repayment or mix.

♦  Lender’s Application fee £150 - Completion fee £499 added to the loan

♦  FREE VALUATION

♦  3% early redemption charge ‘in term’ with ability to repay 50% without penalty

SCHEME 2 (Remortgages only)  - 3 year DISCOUNT TRACKER - 75% MAXIMUM LTV

♦  Current pay rate 3.99%  Bank Base plus 3.49% to 1/8/2013. Interest rate reverts to Standard variable rate at 1/8/2013

♦  Interest calculated daily. 

♦  Interest only or capital repayment or mix.                            

♦  Lender’s Application fee £150 - Completion fee £599 added to the loan

♦  FREE VALUATION & LEGAL FEES PAID ON REMORTGAGES.

♦  3% early redemption charge ‘in term’ with ability to repay 50% without penalty.

SCHEMES 3 & 4 are for BUY TO LET propositions where property is let under an assured shorthold tenancy.

SCHEME 3  BUY TO LET - 75% MAXIMUM LOAN TO VALUE (Limited Tranche).
 

♦  Standard Residential Variable Rate for term, currently 5.49%

♦  Application fee £150 - Completion fee £795. Standard valuation fee.

♦  Minimum loan £50K.  Maximum £350K

♦  Early redemption charge  3% until 1/5/2012. 50% overpayment without penalty until 1/5/2012

♦  Rental cover 100% at pay rate – no extra margin

♦  Funds for flats severely rationed. No new build flats.

SCHEME 4   BUY TO LET - 2 year FIXED RATE - 75% MAXIMUM LTV - (Limited Tranche)
 

♦  Current pay rate 5.75% fixed until 01/08/2012. Rate reverts to Standard Variable rate.

♦  Interest calculated daily.

♦  Interest only or capital repayment or mix.

♦  Lenders application fee £150 - Completion fee £999 added to the loan.

♦  FREE VALUATION & LEGAL FEES

♦  3% early redemption charge  until1/08/2012 50% overpayment without penalty until 1/08/2012)

♦  Funds for flats severely rationed. No new build flats.

GENERAL TERMS

Supporting documents required under UK government money laundering regulations for EACH APPLICANT with a fully completed and signed application form.

1.  Certified copy of relevant page of passport

2.  Original or certified copy of utility bill (no more than 3 months old) addressed to applicant/s at overseas address OR letter from employer/s confirming overseas residential address for all applicants.          

3.  Last 3 months bank statements (preferably Sterling account) - one original page - for all applicants.

4.  Last annual mortgage statement

5.  Copy tenancy agreement or rental assessment.

6.  Application fee/valuation fee as scale below.   Cheque made payable to "International Mortgage Plans" or funds can be transferred to:-

A/C International Mortgage Plans

Barclays Bank
Hampstead High St.
London NW3 1QB

Account No. 30048801

Sort Code 20 36 16

7.  IMP’s arrangement fee is £500 and is payable on receipt of an acceptable offer.

Whilst credit scoring is not attempted, there will be a standard credit check by the lender on any recent UK address.

IMPORTANT NOTE: The Financial Services Authority (FSA) regulate UK mortgages. IMP is authorised to advise under the FSA regulations. Buy to Let mortgages are not subject to the UK regulatory regime.

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