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Existing customers only they have recently withdrawn from expat market.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%
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Temporarily withdrawn |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
|
|
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%
|
