TML announce launch of new expat BTL products

The Mortgage Lender has announced that it is targeting experienced landlords living abroad with its first expat buy-to-let products.

Related topics:  Landlords
Warren Lewis
13th May 2019
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According to the lender, the products are available to expats who have a minimum £40k employed or £60k self-employed equivalent income and on a capital and interest, part and part or interest-only basis. Available for both purchase and remortgage applications, initial rates start at 3.95% for a two-year fixed rate at 70% loan to value and 4.35% for a five-year fixed rate at 70% loan to value.

In order to qualify, applicants must be able to pay the mortgage from a UK bank account and have an agent or family in the UK who can oversee the property.

The new products are available to the whole of the market, have a £150 application fee, a 2 per cent completion fee and a maximum loan of £750,000.

Peter Beaumont, The Mortgage Lender deputy chief executive, said: “There has been a 30 per cent rise in the demand for expat BTL mortgages year on year and our new range, which is available up to 75 per cent loan to value, meets the increase in demand from expat landlords and gives BTL brokers more choice for their customers.”

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