Expatriate Mortgages EXCLUSIVE EXPATRIATE SCHEMES IMP Expat schemes funded by IPSWICH BUILDING SOCIETY
Purchases and Remortgages - December 2011
TRACKERS, FIXES AND DISCOUNTS ALL MAXIMUM 75% SCHEMES 1 & 2 property to be occupied by IMMEDIATE FAMILY and NOT LET.
Family occupation can include partners/children, parents and siblings. Student children can join with expat parents in purchases. SCHEME 1. BASE RATE TRACKER ♦ Current pay rate 3.19%. Bank base plus 2.69% margin to 31/03/2014. Interest rate reverts to Standard Variable Rate at 31/03/2014 Currently 5.49% ♦ Lender’s Application fee £150 - Completion fee £899 added to the loan. IMP booking fee £195 ♦ Scale valuation. Free valuations and legals for a remortgage.
SCHEME 2. FIXED RATE ♦ Fixed rate 3.25% until 31/03/2014. Rate reverts to Standard Variable Rate 31/03/2014
♦ Lenders Application fee £150. Completion fee £999 added to loan. IMP booking fee £195
♦ Scale Valuation fee. Free valuations and legals for a remortgage.
SCHEMES 3 & 4 BUY TO LET No Funds available for new build flats, studios or ex local authority. Maximum of four let properties with Ipswich - ten in total. Gross monthly rental needs to exceed monthly mortgage interest with a margin of 20/25%.
SCHEME 3 BUY TO LET DISCOUNT of 0.74% FROM STANDARD VARIABLE RESIDENTIAL RATE ♦ Current pay rate 4.75% SVR with Discount of 0.74% to 31/03/2014. Rate reverts to Standard variable rate at 31/03/2014. Currently 5.49%
♦ Completion fee £895 added to the loan. IMP booking fee £195
♦ Free Valuation. Discounted legal fees via IMP
SCHEME 4. BUY TO LET - FIXED RATE – (Limited Tranche)
♦Current pay rate 4.99% until 31/03/2014. Rate reverts to Standard Variable rate. Currently 5.49%
♦ Interest calculated daily.
♦ Completion fee £999 added to the loan. IMP booking fee £195
♦ Scale valuation. Discounted legal fees via IMP for remortgages.
In all cases interest is calculated daily and applicants have choice of Interest Only, Capital & Interest or a ‘Mix’. All schemes have an early redemption penalty of 3% within the fixed or discounted term. Facility to ‘pay down’ up to 50% of the loan without penalty within term, and no penalties whatsoever after 2 years.
Valuation Fee Scale | Purchase price/property valuation | Mortgage Valuation | Remortgage Valuation | Homebuyers | | Up to £100,000 | £115.00 | £135.00 | £305.00 | | £100,001 - £150,000 | £125.00 | £135.00 | £365.00 | | £150,001 to £200,000 | £160.00 | £135.00 | £420.00 | | £200,001 to £250,000 | £180.00 | £135.00 | £475.00 | | £250,001 to £300,000 | £200.00 | £135.00 | £525.00 | | £300,001 to £350,000 | £240.00 | £135.00 | £575.00 | | £350,001 to £400,000 | £270.00 | £135.00 | £615.00 | | £400,001 to £450,000 | £290.00 | £135.00 | £660.00 | | £450,001 to £500,000 | £315.00 | £135.00 | £775.00 | | £500,001 to 600,000 | £370.00 | £225.00 | £865.00 | | £600,001 to £700,000 | £430.00 | £225.00 | £1005.00 | | Over £700,000 | | by arrangement | |
DOCUMENTS REQUIRED UNDER UK GOVERNMENT MONEY LAUNDERING REGULATIONS SCHEMES 1 & 2 – FAMILY OCCUPATION Certified copy of relevant page of valid UK passport For proof of address two pieces of evidence are required. Original or certified copies of utility bills. Bank statements showing residential address. As a fall-back a letter from the employer confirming overseas address for both applicants for the last three years should be acceptable. Addressed to Ipswich BS not “to whom it may concern.” Last 3 months bank statements (preferably Sterling account) - one original page - for all applicants. Last annual mortgage statement. If not available the lender may request 12 months bank statements showing mortgage payments in lieu of this. Copy tenancy agreement or rental assessment. SCHEMES 3 & 4 - REDUCED DOCUMENTATION FOR BUY TO LET Certified copy of relevant page of valid UK passport For proof of address two pieces of evidence are required. Original or certified copies of utility bills. Bank statements acceptable if residential address shown. As a fall-back a letter from the employer confirming overseas address for both applicants for the last three years should be acceptable. Addressed to Ipswich BS not “to whom it may concern.” Last annual mortgage statement. The lender may request 12 months bank statements showing mortgage payments in lieu of this, if not available. Copy tenancy agreement or rental assessment. IMP APPLICATION/BOOKING FEE £195.00 This amount also payable for an Acceptance in Principle application. No further application fee for a full application. Cheque made payable to International Mortgage Plans, or funds transferred to Barclays Bank, Account International Mortgage Plans 30048801, Sort Code 20 36 16. IBAN GB58 BARC 20361630048801 SWIFT BIC BARC GB22 IMP’S ARRANGEMENT FEE IS .25% OF LOAN SUBJECT TO A MINIMUM OF £500 INVOICED ON ISSUE OF A FORMAL OFFER. Lenders and IMP application/booking fees are normally non refundable once processing has commenced, but IMP’s fee would be refunded if the lender declines the application. DELAY ON APPLICATIONS Mortgage processing is a tedious business. It is not us or the lenders being awkward it is H M Government’s increasingly stringent money laundering regulations. Lenders want applications to be ‘oven ready’ with all necessary documentation and applicable fees. Applications will be delayed if the required paperwork is ‘drip fed’. We are increasingly finding that applicants do not read these notes or just send part of the paperwork required and then within days are chasing us for an application progress report. We have now been told by the lender not to submit applications unless all requisite paperwork and fees are to hand! This does not apply to Acceptances in Principle (AIP) where Part 1 with the £195 application fee can achieve an email agreement inviting a full application.
Exclusive Fixed Fee Conveyancing Arrangement via
Messrs Ison Harrison of Leeds | Property Band – Purchase or Sale | Legal Fee (plus VAT & Disbursements) | To £350K
£350K - £1m | £350.00
£500.00 | | Remortgage | Legal Fee (INCL.VAT & Disbursements)
England & Wales
| | Any Value | £350.00 | | Transfer of Equity | Legal Fee (INCL. VAT & Disbursements)
England & Wales
| |
| £200.00
| Ison Harrison are a substantial law firm established in 1978. Their Headquarters is in Leeds and over 140 staff are employed. The firm has grown through merger and increased business volumes. They are regulated by the Solicitors Regulation Authority and have partners and personnel able to offer advice and help on all family and commercial legal matters.
At IMP we have found their services to be of great assistance with our expatriate clients purchasing and refinancing UK property security. Their fixed price remortgage conveyancing fee of £350.00 including VAT and all disbursements, and including leasehold properties, has proved to be exceptionally popular with our applicants.
ISON HARRISON
Duke House, 54 Wellington Street, Leeds LS1 2EE Telephone: David Bancroft +44(0)113 284 5069, Jade Campbell +44(0)113 284 5153 Switchboard (0)113 284 5000 Email: imp@isonharrison.co.uk. Website: www.isonharrison.co.uk Mortgage Enquiry Form Back to IMP Homepage | 
