Ex-pat buy to let 3 year discount [ED02]

Discounted for 3 years

Early Repayment Charges apply.

This product may be withdrawn at any time.

arrangement fee
This fee can be paid upfront or added to the mortgage amount. If the fee is added to the mortgage then interest will be payable on the fee at the same rate as the mortgage.
booking fee
This fee must be paid on application. We are unable to accept payment of the fee by credit card.
no fee
initial rate
3.00% discount from our BTLVR for 3 years
followed by our BTLVR 5.74%
The overall cost for comparison is 5.2% APRC

Product key features

Who's the product for?

Our ex-pat buy to let products are available to expatriates residing in countries that are included in the Financial Action Task Force (FATF) approved list and the UAE (subject to individual case assessment) with the current exception of Russia. Please contact us directly to discuss acceptable countries.

Your client must be aged 21 or over and the term can’t run beyond the eldest borrowers 85th birthday.

Your client must also earn at least £20,000, or local currency equivalent. If they are a self-employed professional landlord, we’ll accept rental income as a source of income.

Your client must hold a valid notice address in the UK. A solicitor's or family member's address is acceptable.

Your client must also hold a UK bank account. The mortgage payments and rental payments must be serviced by the same UK bank account.

Experienced landlords and self-employed

If your client currently has a buy to let property, or if they've had one in the last 12 months we’ll accept them as an experienced landlord.

For basic rate tax-payers, expected rental income must cover 125% of the mortgage payment amount on a rate of 5.5%* and this increases to 130% of the mortgage payment amount on a rate of 5.5%* for higher rate taxpayers.

*or the applicable fixed rate if 5 years or longer.

First time landlords

If your client has not held a property on a buy to let basis during the previous 12 months, we will class them as a first time landlord.

For basic rate tax-payers the rental income must cover 140% of the mortgage payment amount on a rate of 5.5%*. For higher rate taxpayers, rental income coverage increases to 145% of the mortgage payment amount on a rate of 5.5%*.

*or the applicable fixed rate if 5 years or longer.

Portfolio size

If your client's portfolio is less than four mortgaged buy to let properties when the mortgage completes then we can help. We don't have a limit on the overall portfolio size, but a maximum limit of £1million held on mortgage with us does apply (including residential lending).

General exclusions

The following application types aren’t accepted:

  • Studio or one bedroom apartments;
  • Local authority flats, flats in block of more than five storeys or flats above commercial premises;
  • Applications from limited companies;
  • Applications where you’ll occupy the property either now or in the future, will be let to a family member, or where up to 40% is occupied by the owner with the remainder let; and
  • Multiple occupancy lets, DSS tenants, student let or sub-letting.
Product related fees

There is an arrangement fee of 1.25% of the mortgage amount that can be deducted from the mortgage advance or added to the amount borrowed. Fees added to the mortgage will incur interest.

Mortgage amounts

There is a minimum mortgage amount of £50,000 and a maximum mortgage amount of £500,000.

The maximum loan to value available is 70%.

Interest rate floor

The interest rate is floored meaning it cannot fall below 2.74%.

Mortgage repayment terms

Your client can repay their mortgage over a minimum of 5 years and a maximum of 35 years.

Early Repayment Charges

Your client can overpay up to 10% of the original mortgage amount each year.

Any overpayments taking your client over this allowance will be subject to the full Early Repayment Charge. The Early Repayment Charge will be:

  • 3% of the amount repaid during the first year;
  • 2% of the amount repaid during the second year; and
  • 1% of the amount repaid during the third year.
Speak to Nicola, our Business Development Manager today 0121 521 4045* Getting in touch
Our lines are open:
Monday - Friday9:00 - 17:00
Saturday - SundayClosed
*Calls from landlines are charged at the standard rate. Calls from mobiles may vary.

Happy to help you...

  • Discuss your clients needs
  • Help with your existing buy to let case
  • Discuss our buy to let criteria
  • Process your decision in principle

Your property may be repossessed if you do not keep up repayments on your mortgage.