August 2016
Good News for UK Nationals Who Are Residents of Australia

A regional building society has extended its expat range to accept buy-to-let and residential applications from customers living in Australia.

For buy-to-let applicants, a limited amount of funding is available for a five-year fixed rate mortgage, priced at 3.60% up to 70% loan-to-value (LTV) with a minimum loan balance of 200,000. A discount product is offered with a 1% reduction off the Standard Variable Rate (SVR) which sets the interest rate- currently at 4.49%- also available up to 70% LTV.

Its residential range for expats living in Australia includes four products. Borrowers can choose from discount mortgages starting from 3.25%, discounted by 2% off SVR, up to 65% LTV with a 3.5% alternative for those with 30% deposit.

Fixed rates at 3.75% and 3.99% are being offered for two years and five years, respectively.

A second regional building society has returned to offering residential products to Australian residents. Applicants must be UK passport holders. Mortgages are offered on interest only and a suitable UK repayment vehicle acceptable to the society put in place. Examples are sale of second home, stocks and shares and sale of the property where there will be sufficient funds to repay the mortgage and allow the borrowers a cheaper property to reside in. Rates from 2.84%

Please contact International Mortgage Plans for details

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