We get enquiries every month from businessmen and women working abroad who are keen to keep property here – particularly in Cambridge. Yet even experienced landlords with a proven track record are excluded from most UK lenders if they live overseas. Until recently there have only really been two lenders keen on this type of lending.
Well, now there is a third – Kent Reliance is offering a buy-to-let mortgage for people temporarily living overseas. The new product will help them to work abroad while keeping their investment in UK property.
The mortgage comes with a 4.49% rate for two years and is applicable to buy-to-let properties. The loan-to-value runs up to 75%, available for amounts between £125,000–£1.5m. The arrangement fee is 2%.
There is an increasing need for mortgages for expats and the commitment from Kent Reliance has seen a 50% increase in the market.
Talk to us at Limetree if this mortgage might work for you. No matter how challenging you think your mortgage requirements are, Limetree Financial Services will guide you through all the options.