This product is available to overseas investors looking to buy property in the UK (including UK expatriates).
Andrew Moss, product development manager at Mortgage Express said that they have experienced an increased number of enquiries from brokers about deals for overseas investors and have launched this range in response to those calls.
“The demand for new deals such as these for overseas investors reflects the continuing health of the UK Buy to Let market,” saidMoss.
The deals available are:
- 3 year discount of 1.01% (Giving a pay rate of 5.99%. Product Variable Rate = Bank of England Base plus 2.25%)
- 3 year fixed rate at 5.85%
- 5 year fixed rate at 5.99%
Maximum Loan to Value is 70%. Rental cover required is 125% for 5 year fixed deals and 130% for all other deals. Early repayment charges are 5% of the amount redeemed during the tie-in period.