INTERNATIONAL
MORTGAGE PLANS

 

 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.

Details of the current terms that we can arrange for buy to let mortgages.

July 2008

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%/75% 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.
  • Mosty lenders have imposed restrictions on newly built property
Lender Interest Rate % Max %
 Advance
Lenders Arrangement
Fee £/%
Loan to Foreign National Special Features
BANK OF
SCOTLAND
3 Month LIBOR + 1-1.5% 70% 1% NO
Special Scheme. Minimum income £70,000
BM SOLUTIONS 7.19% 3 year fix 75% 2% NO Applicant must work for Govt Agency or Multi National Company.
DERBYSHIRE

6.45% 3 year fix

N/A £599 NO

Existing customers only they have recently withdrawn from expat market.

 

EDEUS Closed to new business     No  
FORTIS

Sterling mortgage

LIBOR + 1%

 

LIBOR +1.25%

 

Multi Currency available in

YEN

CHF

EUR

HKD

USD

GBP

70% £500 YES

Minimum Loan £150,000

Loans to offshore companies and trusts
 

Foreign currency mortgage.

For clients earning in US dollars, Japanese Yen, Canadian Dollars or another foreign currency. A foreign currency mortgage may be appropriate.

Multi currency aimed at high net worth individuals. Please refer for

underwriting decision.

HERITABLE BANK 7.15%

75% 0.5% YES

Special terms for IMP clients

85% to £200,000 purchase price.

No new build flats

HSBC Foreign currency loan
Libor + 1.25%
 

65% Interest only

above that repayment only

£399

YES

Life insurance must be assigned to HSBC bank.

Applicants need to be in salaried employment or professional occupations such as Dr’s, Dentists, Solicitors or Accountants

IPSWICH BUILDING SOCIETY 6.24% 2 year discount 75% £395  
NO

Exclusive product to IMP

No redemption penalty at anytime

Maximum holding £500,000

No new build flats

IRISH PERMANENT Temporarily withdrawn 80% 1% SOME 70%

Same rate second asset loans
Also 2-10 year FIXES with repayment penalties. Loans to offshore companies and trusts.

NATWEST
BANK
7.25% 3 year fix 75% 1% YES
Expats salary must be paid into a UK bank account
MORTGAGE EXPRESS 7.99% 3 year fix 70% 2% YES

Non Status loan
Rent must be 120% of monthly mortgage payment

ROYAL BANK OF SCOTLAND INTL Base + 1%

75% 1% YES

Terms can vary via different Royal Bank operation areas.

SAFFRON BUILDING SOCIETY Temporarily withdrawn

UK Expats 85%

Foreign Nationals 75%

 

Loans to £350,000 £595

Loans to £500,000 £795

UK Expats 85%

Foreign Nationals 75%

Exclusive to IMP

Maximum holding £1.5 million. Up to three buy to let properties.

STROUD AND SWINDON BUILDING SOCIETY

6.79% 2 year discount

 

75%

£249 reservation fee

£750 completion fee

 

NO

Exclusive product to IMP - Limited tranche

No legal fees or property valuation charge on remortgages

 

TMW

5.59% 2 year tracker

65%

£350,000 Maximum loan

2.5% NO


Multiple property landlords (portfolio of 2 or more properties) Where more than one property is held rentals and loan to value can be aggregated.

No new build flats
 

WEST BROMWICH

 

7.29% 2 year fix

75% Max £500,000

1.5%

NO

65% max for new build property

5% early repayment charges until 2010. . Rental calculation 120% @ 6.24%

  1. Interest only and repayment loans available.

  2. 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.

  3. Irish Permanent – applicants must have a mortgage ‘history’. Loans available via offshore companies/trusts.

  4. Bank base rate 5.00% - 01/07/08  3 month LIBOR 5.83%.

  5. Heritable and TMW up to ten properties per applicant. No new builds accepted.

  6. Loans usually portable without incurring early repayment penalties.

  7. All fees quoted are payable to the lender and are usually added to the loan.

  8. 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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