OSB brings in new expat products in range revamp

Expat globe

OneSavings Bank is bringing in new expat buy-to-let loans as part of wider changes to its range.

The lender will bring in new two-, three- and five-year fixed rate options.

The changes will be applied by OSB brands Kent Reliance and InterBay Commercial.

Rates will start from 3.79 per cent for Kent Reliance and from 4.45 per cent for InterBay Commercial.

Applications for HMOs and limited companies will also now be accepted on expat terms.

Kent Reliance will also drop its requirement for applicants to be either a professional or buying in London and the South East.

Now Kent Reliance has two expat categories, standard and specialist.

Expat standard includes loans to individuals on standard flats and houses.

Expat specialist includes mortgages for limited companies, HMOs and student lets.

In addition, Kent Reliance will lend to Australian expats when the property is held in a UK limited company.

OneSavings Bank sales director Adrian Moloney says: “We know that many expats choose to invest in buy-to-let property in the UK whilst living abroad as a way of generating income.

“However, it has become increasingly difficult for them to find or access these specialist mortgages.

“These changes will result in an improved proposition to support their customers’ needs as well as offering customers more competitive pricing.

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