Thursday, May 11, 2017
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Market Harborough Building Society has launched a limited company buy-to-let mortgage targeting British expat borrowers.
The product is available for property purchases, remortgages, and additional capital raising. It has a minimum loan size of £200,000 per property, and the maximum loan is capped at £1,500,000.
Aaron Strutt, director of Trinity Specialist Finance, says: “More of the lenders are offering buy-to-let mortgages for expats buying investment properties in the UK. It is less common for them to publicise they are available to UK limited companies.
“Market Harborough’s new mortgage is available on interest-only, and it has a pay rate of 4.49%. It has a 1% discount from the 5.49% standard variable rate for the life of the mortgage and a 1% arrangement fee. Applicants will need a 35% deposit to qualify.”
If a property generates £2,500 rental income each month, using the lender's interest cover stress test, the society could provide a mortgage of up to £436,363.
To secure an expat buy-to-let mortgage call Trinity Specialist Finance on 020 7016 6151.
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