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.”

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