ExPat Buy to Let Mortgages


Our ExPat mortgage can offer a solution to help you purchase or remortgage an investment property while living outside of the United Kingdom.

Product Name

The overall cost for
comparison is:

Rate structure based
on our Standard
Variable Rate

Availability

Flexibility

Fees

 

Early Repayment Charges

3 year Buy to Let
0.25% Discount
BDD017

5.5% APRC

5.04% variable for 3 years followed by Standard Variable
Rate, currently
5.29%.

Purchase &
Remortgage
up to 65% Loan To Value (LTV).  (minimum deposit of 35% required)

Overpayments up to 20% of the capital
balance as at 1st January allowed in each calendar year without penalty.
Portable.

  • Product Fee 1% of advance (Minimum £999)

  • Administration Fee £125

  • Valuation Fee (BTL scale)

  • Completion Fee £75.

3% in years 1 & 2 , 2% in year 3 , plus a Closing Administration Fee (currently £100).

An example: A mortgage of £178,000 taken out for a period of 22 years on an interest only basis.

Monthly instalments: £747.60 per month for 35 months, followed by £788.59 per month for 228 months.

Total amount payable: £386,504.52

Total amount of credit: £178,000

The total amount payable includes product fee £1,780 valuation fee £310, administration fee £125, closing fee £100 and completion £75.

We have no current plans to withdraw this product but it may be withdrawn without notice.

Lending Criteria and Information

Criteria:

Applicants must have an existing UK mortgage.
Mortgage payments must be made from a UK bank account in Sterling.
The property is not to be occupied by the borrowers family.

Accepted Countries:

Austria, Belgium, Canada, Cyprus, Czech Republic, Demark, Estonia, Finland, France, Germany, Gibraltar, Hong Kong, Iceland, Ireland, Netherlands, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, New Zealand, Norway, Poland, Portugal, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Arab Emirates, UK Crown Dependencies.

Loan:

Size: Minimum £100,000, Maximum £500,000.
Term: Minimum 5 years, Maximum 40 years.
Repayment Type: Interest Only and must be from sale of the property.

Property:

The property must be in England or Wales and be of standard construction

Applicant:

Age: Minimum 25, no maximum, subject to income in retirement.

Income:

Household income must be at least £30,000

Rental:

The rental income must be received in Sterling and must equate to at least 145% of the mortgage payments using the product interest rate plus 2%          

Underwriting:

We take a flexible approach to underwriting and will consider each case on its merits. We do not credit score. The actual rate and APRC for your case will depend on your circumstances and our assessment of the risk.

For further information, please contact the Mortgage Sales team on 01225 475737 or via email at mortgagesales@bibs.co.uk