BTL lender, Skipton International, has announced that they have reopened remortgage lending for overseas residents following the lifting of restrictions that were implemented due to Covid-19.
Due to measures preventing physical property valuations, the lender had stopped accepting applications but is now welcoming applications for remortgages on UK buy-to-let properties from British expats and foreign nationals.
The firm will initially be accepting applications for remortgages only, with a maximum LTV of 60%, but says it expects to offer purchase mortgages in the near future.
Roger Hughes, BDM at Skipton International, said: “Prior to the Covid-19 pandemic we were seeing strong demand from overseas residents for our UK buy-to-let mortgages. We hope our return to the remortgage market will provide an attractive offering for investors and demonstrate that Skipton is still very much open for business.”