Expat mortgage launches at National Counties

National Counties Building Society has announced this morning that it has launched an interest-only mortgage for UK expats.

Related topics:  Finance
Warren Lewis
19th July 2016
Overseas

According to the Society,  there is a "clear gap in the market" for expat mortgages due to the outcome of last months referndum.

The product is also available to UK or foreign nationals with permanent rights to reside and work in the UK who are paid partly or wholly in a foreign currency.

The 3 and 5-year discounts are available from 2.84% and 3.14%.

National Counties says that borrowers will need to have an acceptable repayment strategy using UK based Sterling assets.

Keith Barber, director of business development at National Counties Building Society, said: “We constantly seek to improve our product range and we listen to the views of brokers and also our existing borrowers. In the post- Brexit referendum hiatus, we are pleased to announce the launch our new mortgage for expats and those working in the UK but paid partly in foreign currency, as there is a clear gap in the market.

National Counties has for many years offered buy-to-let mortgages for expats and now is the time to roll this product out for owner-occupiers.”
 

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