3mc launches Aldermore expat buy-to-let deal

3mc launches Aldermore expat buy-to-let deal

Mortgage distributor 3mc has launched a buy-to-let mortgage deal designed for use by British expats, and funded by Aldermore Bank.

The deal includes rates from 4.18% and is available to private individual British citizens in a FATF member country or confederation and is for individual residential investment units, HMOs up to six beds and multi-units (up to 4 units) on 1 freehold title.

There’s a maximum LTV of 75% for remortgage and purchases and no minimum personal income requirements except for first-time landlords and a proc fee of 0.75%.

Doug Hall, director of 3mc, said: “Investing in UK rental property continues to hold considerable appeal for British expats living abroad and this exclusive deal has been designed to cater for their needs.

“Individual expats can purchase a wide range of rental properties including HMOs and multi-units on a single title, with a choice of fixed and variable rate deals starting from just 4.18%.”

The deal is available to all intermediaries and through 3mc’s network partners The Right Mortgage and Protection Network, Sesame, Stonebridge Network, Home Loan Partnership and to directly authorised members of the PMS Mortgage Club.

Charles McDowell, commercial director at Aldermore, added: “We’re delighted to offer this exclusive deal via 3mc, who I know will provide brokers and their clients with a high quality service. Full product details are available via the 3mc website.”