TML launches first expat BTL products

The Mortgage Lender has announced the launch of its first expat buy-to-let mortgage products.

Notable introductions include a 70 per cent LTV two-year fix at 3.95 per cent, and a 70 per cent LTV five-year fix at 4.35 per cent.

Both offerings are for purchase or remortgage applications, have a £150 application fee, a 2 per cent completion fee, and a maximum loan value of £750,000.

In addition, the products are only available to expats with a minimum salary of £40,000 for employed borrowers, or £60,000 for self-employed, and on a capital and interest, part and part or interest-only basis.

Furthermore, to qualify applicants must repay the mortgage from a UK bank account and have an agent or family in the UK to oversee he property.

The Mortgage Lender deputy chief executive Peter Beaumont comments: “There has been a 30 per cent rise in the demand for expat BTL mortgages year-on-year, and our new range meets the increase in demand from expat landlords and gives BTL brokers more choice for their customers.”



Residential possessions up 10%: UK Finance

The number of residential properties taken into possession grew 10 per cent to a total of 1,380 in the first quarter of the year, according to numbers published by UK Finance. While this is some way off the near 14,000 recorded in the Q1 2009, and UK Finance says that it is down to a […]

Houses, house, property, monopoly

Spicerhaart, Excel and TLT launch interest-only resolution

Spicerhaart Corporate Sales has partnered with fact-finding firm Excel and law firm TLT to launch a resolution for interest-only mortgage product lenders. The approach aims to provide a strategy for a lender within 90 days of the product’s resolution through either repayment, conversion, remortgage, the sale of the property, or litigation. The proposition is designed […]


News and expert analysis straight to your inbox

Sign up