INTERNATIONAL
MORTGAGE PLANS

 

Expat Mortgage Rates

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 current terms we can obtain for you.

Details of the current terms that we can arrange for property purchase and remortgages.

July 2008

Special schemes available to expatriates and, in some cases, foreign nationals, for the purchase, or refinancing,of property, for family use, or commercial letting under the shorthold tenancy act.


LENDER
INTEREST RATE %
MAX % ADVANCE
LENDERS ARRANGEMENT FEE
SPECIAL FEATURES
BANK OF SCOTLAND
Libor +/- 1.2%-1.3%
       70%
0.25%
Special scheme depending on individual circumstances please contact us for details Minimum income £70,000 pa. Minimum loan £100,000

BM SOLUTIONS

7.19% 3 year fix

6.29% 3 year tracker

75%

2% of loan amount

 

 

Applicant must work for Govt Agency or Multi National Company. Rental calculation 125% at payrate.

C&G

6.44% 2

year fix


6.44% 3 year fix


6.29% 5 year fix

 


6.33% Full term tracker Bank base plus 1.53%

75%

 

75%

 

75%

 

 

 

80%

£995

£995


£995

 

 

£995

 

Limited offers via IMP

Will not lend to Self employed expat applicants. Employed applicants need to work for large companies. Available for main UK residence only.

Free property valuation and low cost legal fees for remortgages.

You can take a combination of products i.e. 50% Fixed 50% Tracker

 

Every case has to be agreed with an underwriter before submission.

New build apartments maximum loan 65%

 

Minimum loan for these terms £25,000

Different terms available for loans between £1 million and £2 million

DERBYSHIRE BUILDING SOCIETY  Withdrawn from market
N/A
£599

Existing customers only they have recently withdrawn from Expat market

High rental yield of 125% of mortgage payment required

Historic or current UK address required for credit reference purposes

DRESDNER KLEINWORT BENSON

Libor +1-1.5%

 80%
 0.5%
Currency Switching. Minimum Loan £100,000. Life assurance required. Min earned income £75,000. Currency loan minimum income £100,000
Other discounts, special terms £400K +
FORTIS BANK GROUP

Sterling mortgage

LIBOR + 1%

Foreign currency

mortgage

LIBOR +1.25%

Multi Currency

available in

YEN

CHF

EUR

HKD

USD

GBP

75%

 

 

 

70%

£500

 

 

 

£500

Minimum Loan £150,000 -

80% owner/family occupation.

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.

Maximum for interest only 70% allows multiple currency switching only available to high net worth individuals.

HALIFAX

6.49% 3 Year Fix

 

75%

 

£1499

 

Very restrictive terms. No capital raising allowed. Must be returning to UK in a short period. 6 months bank statements required.

Redemption Penalties

Fixed rate 2% in first 3 years

Tracker 1% in first year

HERITABLE
7.15%
70%
1.5%

Redemption 3/2% 2 year penalty.No new build flats. Max loan £250,000

HSBC

Rates under review

80%

Repayment basis only

75% Interest only

£999

Many existing expat HSBC bank customers come to us after being told that they will not have a problem obtaining an expat mortgage for a UK property with the bank and then find that the bank is unable to lend to them.

The London office can only deal with "FSA regulated loans" where a family member will be resident in the property.

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

IPSWICH 6.24% two year discounted rate
75%
£395

IMP exclusive expatriate buy to let scheme

Maximum 4 properties £500,000 total borrowing

Interest calculated daily

No early repayment penalties at anytime

Will not lend on new build apartments

IRISH PERMANENT
Temporarily withdrawn
85%
1%
Same rate second asset loans
Also 2-10 year FIXES with repayment penalties . Loans to offshore companies and trusts.
NATWEST
BANK
7.25% 2 year fix
70%
1%
Expats salary must be being paid to UK bank account
PORTMAN BUILDING SOCIETY 

Terms under review



 

 

Expat terms under review following the Portman Building Societies takeover by Nationwide Building Society. For existing clients further advances are no longer available.

ROYAL  BANK OF SCOTLAND INTL Base +1%
75%
1%

Minimum loan £100,000

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

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%

 

£695

Exclusive to IMP

Limited tranche

Free valuations and

Free legals (remortgaging)

£249 reservation fee £750 completion fee

TMW

 

5.59% 2 year tracker

 

65%

 

2.5%

Arrangement fees can be added to the loan.

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

Will not lend on new build apartments

This table is for information purposes only and is not to be viewed as a recommendation

Notes:
 Some Lenders have onerous redemption penalties for fixed and discounted terms.
A usual penalty is 6 months interest in the first 5 years. Loans are however portable but proportionate penalties would apply unless similar amount loans were taken. There are also proportionate penalties on partial repayments. BANK OF SCOTLAND,  FORTIS , KLEINWORT BENSON and ROYAL BANK OF SCOTLAND all offer loans via offshore trusts and offshore companies. Arrangement fees can be as much as 1% of the loan. Some lenders make life assurance cover obligatory. Others insist on their "in-house" buildings and contents insurance as a loan condition.

Arrangement Fees - All fees quoted are payable to the lender and are usually added to the loan, although some require payment with the application. IMP will charge an arrangement fee of .25% subject to a minimum of £250 and a maximum of £500 but this can be waived where associated financial products, such as mortgage protection, is effected through the company's agencies.

Most lenders have now settled on a base variable rate of circa 7.25%- 7.75%. Bank rate @ 01/07/08 5.00%
3 month LIBOR 5.83%.

IMP are authorised and regulated by the Financial Services Authority (302775) for mortgage advice and hold Consumer Credit Licence No: 592583.

Mortgage Enquiry Form      Back to IMP Homepage

E-Mail:  info@international-mortgage-plans.com


Expat Mortgages Home
Latest Mortgage News
Expat Mortgage Rates
IMP Exclusives
Buy To Let Mortgages
Purchase Costs
Online Mortgage Enquiry
Contact Us
Limited Remortgage Offer
Pensions Buy To Let
Expat Legal Services
Useful Contacts
Table of contents