The new mortgages are available for both employed and self employed borrowers who are UK citizens currently resident abroad.
On the new products the minimum to maximum loan bracket is £25,000 - £500,000 with the maximum set at 60% LTV (on both residential and BTL mortgage)
• 3.99% rate for Residential purchase or remortgage – includes discount of 1% from Residential SVR (currently 4.99%) for term of mortgage
• 3.99% rate for BTL purchase or remortgage – includes discount of 1.5% from BTL SVR (currently 5.49%) for term of mortgage
Jonathan Moore, Head of Credit at Dudley Building Society, had this to say: “We have been taking soundings from our partners and expat mortgages have been one of the areas which has kept coming up as an underserved sector of the market. It seems that Brexit has not dampened the demand for expat finance and we have set out to offer a strong proposition for advisers to put before their clients, which covers both purchase and remortgage on residential and BTL properties.
Dudley Building Society is building a reputation of stepping in first and providing support for sectors that have tended to be ignored. Our move to scrap upper age limits across our product range to help older customers has now been emulated in the market. We shall continue to lead the move into areas which we feel are underserved.”
