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Trying to find the best buy to let mortgage for expat clients is no mean feat, considering the relatively small group of lenders offering expat property finance in the UK. Fortunately, there are still some good options out there, such as our product of the week. This 2-year fixed rate product allows clients based in over 30 different countries worldwide to take out a buy to let mortgage in the UK.
If you own a UK buy to let property which you might like to live in upon your return to the UK, a short term fixed product could be a great solution, as you’ll know you won’t need to wait too long before you can remortgage onto a residential rate.
This buy to let mortgage for expat clients is available for loan sizes up to £1million. Offered up to 75% loan to value (LTV), you could also secure a slightly lower rate by taking out the product at 65% LTV.
To access this product, you’ll need to open an account with the lender, who are a well-regarded name in the industry. Applicants from a number of countries, including the UAE, can then access a 2-year fixed rate of 3.4%.
However, if you are happy to place £100,000 or more as assets under management (AUM), you can achieve a 2-year fixed rate of 3.29%. Applicants from a limited number of countries (including but not limited to Cyprus, Greece and Nigeria) are required to place AUM as standard.
With only a limited number of lenders offering this proposition, it can be difficult to secure a competitive rate on a buy to let mortgage for expats. Fortunately, having worked with this lender on numerous occasions over the last decade, we know they are an excellent match for British expats looking to invest in the UK. They also have a strong residential offering, so whatever your UK property finance requirements are, this lender could be an option worth considering.