It is common knowledge that it is currently harder than ever to get a mortgage in the UK which means that, in theory, it is even harder to get a mortgage on a property in the UK if you are living in a different country as an expat. However, there are a number of institutions that are offering expat mortgages, including a new specialist package from Kent Reliance.
The new 2-year discounted mortgage is offered at 4.49% and is available up to a maximum loan to value of 75%. John Eastgate, sales and marketing director at Kent Reliance, said: “We have seen a surge in demand from expats looking for Buy-to-Let products.” The mortgage will be available on loans from £125,000 to £1.5m and has a 2% arrangement fee.
Elsewhere on the market HSBC also offer buy-to-let and residential mortgages to expats at an interest rate of 4.29% on a Loan to Value of 75%, compared to Skipton that offers a rate of 4.29% on a 70% LTV mortgage.
In November of last year Lloyds announced that it will no longer be offering mortgages to Britons living abroad who want to buy a UK property. Existing mortgages remain unaffected, although a spokesman at the time said that no new applications would be considered while a review period, of an undisclosed length of time, takes place.
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