The Saffron Building Society has unveiled a refreshed range of expat mortgages for landlords looking to purchase or remortgage a buy-to-let property in the UK whilst living overseas.
Saffron’s latest expat buy-to-let mortgages have a number of key features, including a 55% loan-to-value (LTV) band and a fixed rate now available up to 75% LTV, with no restriction on countries.
Under the new terms, expat landlords, including first-time buyers, can live in any location around the world, with no UK mortgage history required along with no minimum income.
Highlights include a three-year discounted rate of 3.39% at up to 55% for a term of 40 years, subject to a 2.5% arrangement fee.
There are also five-year fixed rate products at 4.07% up to 55% LTV, and 4.57% at up to 75% LTV – both deals come with a 2.5% arrangement fee.
Both products are for purchase or remortgaging.
Colin Field, chief executive at Saffron Building Society, said: “With high numbers of UK nationals living overseas and the launch of Saffron’s enhanced expat buy-to-let offerings there has never been a better opportunity for brokers to introduce this product range to existing and would be customers residing abroad.”