National Counties BS launches expat mortgage

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National Counties Building Society is launching an owner-occupier mortgage for UK expatriates.

The loan is designed for UK nationals working abroad and also anyone in the UK paid in foreign currency, either wholly or partly.

The loan is interest-only and borrowers need a sound repayment plan using UK-based Sterling assets.

If borrowers’ circumstances change then the mortgage cannot be varied or switched.

The property must be the borrowers’ main home and currently be used by them or their family.

If the borrowers are not currently living in the property then they must intend to return.

National Counties Building Society director of business development Keith Barber says: “In the post- Brexit referendum hiatus, we are pleased to announce the launch our new mortgage for expats and those working in the UK but paid partly in foreign currency, as there is a clear gap in the market.

“National Counties has for many years offered buy-to-let mortgages for expats and now is the time to roll this product out for owner-occupiers.”