Chelsea launches ex-pat product

The product launch co-incides with a review of fixed rate interest rates.

Tom Gurrie, head of intermediary sales, said: "Chelsea’s buy-to-let market is thriving, so expanding into the ex-pat market is a logical step. We are piloting the scheme through Savills as they are experts in the buy-to-let market, generating good quality business.

"Our new product coupled with the changes made to our fixed rates both in our mainstream and credit impaired range means our fixed rate products are now even more competitive."

Details of the Savills product are a two-year fixed rate with a rental requirement based on 120 per cent of initial pay rate calculated on an interest only basis is available to 80 per cent loan to value.