Following its new buy-to-let mortgage deal designed for British expats, Aldermore Bank has partnered with Expat Packager to make the product available to brokers.
Eligible for both remortgages and purchases of up to 75% loan-to-value (LTV), the product is focused on British expat portfolio landlords – a market that currently lacks in borrowing options.
The product is available to British citizens and foreign nationals residing in any country within the FATF (Financial Action Task Force), with rates starting from 4.18%. Also boasting a 0.75% procuration fee, it’s an attractive offer for British expat landlords, adding value to the brokers within the Expat Packager network.
Funding is accessible for individual buy-to-let units, multiple units (up to four) on freehold titles, and HMOs (of up to six beds). The product is also convenient for first time landlords who meet personal income requirements. Meanwhile, existing landlords are free from minimum personal income criteria altogether.
Stuart Marshall, director of Expat Packager, commented: “We’re delighted to be one of only two packagers working with award-winning specialist lender, Aldermore Bank.”
“By joining our lender panel, they are considerably widening the choices available to our brokers and their clients, ensuring Aldermore are able to deliver a solution for expats who might traditionally have been excluded from access to finance.”