YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Key Comparison Notes

A 0.76% discount off the Society’s Standard Variable Rate for 3 years making the current rate payable. 3.99%
After 3 years the Society’s Standard Variable Rate for the remaining term of the loan, currently: 4.75%
The overall cost comparison is: 4.9%
APRC

Expat Buy to Let

The minimum loan amount is £75,000.00.
The maximum loan amount is £500,000.00.
The maximum loan to value is 70%.

The Society will only lend to expatriates of the United Kingdom. The Society will consider applications from expatriates, where the rental income is earned in GBP and affordability of the mortgage is assessed against the rental income, stressed at the Society’s stress rate and interest coverage ratio, with no reliance upon a ‘top up’ from income derived in a foreign currency. Loans of this nature are not deemed to be foreign currency loans.

Buy to Let (with top-slicing) – the Society will consider applications from expatriates, where rental income is ‘topped up’ from personal affordability, using income dervived from the applicants’ employment. Where this income is paid in a currency other than GBP this loan is treated as a foreign currency loan. Both business buy to let and consumer buy to let are acceptable on this basis.

Expatriate Buy to Let portfolio landlords are not acceptable.

Fees

  • Application Fee – £249   Payable on application. Non-refundable.
  • Product Fee – £1350.

This mortgage is portable, subject to suitable security and underwriting assessment.

This product may be withdrawn without notice.

Representative Example

A mortgage of £105,151.00 payable over 18 years on our discounted rate for 3 years at 0.76% below the Society’s current variable rate, making the current rate payable 3.99% (variable), and then on our current variable rate of 4.75% (variable) for the remaining 15 years would require 36 monthly payments of £683.15 and a further 180 monthly payments of £718.93 plus one initial interest payment of £172.42.

The total amount payable would be £156,091.82 made up of the loan amount plus interest (£49,021.82) and an application fee of £249.00, a product fee of £1350.00 and a valuation fee of £270.00 and a mortgage exit fee of £50.00.

The overall cost for comparison is 4.9% APRC representative.

Further Expat Mortgage Products:

ProductsProd CodeMore DetailsDistributionInitial RateInitial PeriodReverts toApp FeeProduct FeeFree Val?Fee Assisted Legals?Max LTVMin Loan AmountMax Loan AmountERCFeatures
Foreign Currency Residential (Purchase & Remortgage)FCRMTo FollowSelected Brokers Direct3.75%3 YearsSVR£199£1250NoNo75%£75,000£500,0003% During Disc Period

Overpayments (monthly or lump sum) up to a total of 10% of the outstanding loan per year are allowed without charge.
Portable

Expat ResidentialREXPView DetailsSelected Brokers Direct3.89%3 YearsSVR£249£1250NoNo75%£75,000£500,0003.00% During Disc Period

Overpayments (monthly or lump sum) up to a total of 10% of the outstanding loan per year are allowed without charge.
Portable

Expat Buy to LetBEXPView DetailsSelected Brokers Direct3.99%3 YearsSVR£249£1350NoNo70%£75,000£500,0003.00% During Disc Period

Overpayments (monthly or lump sum) up to a total of 10% of the outstanding loan per year are allowed without charge.
Portable

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