A new wave of residential products is being introduced to help mortgage brokers secure the best solution for their clients.
Following the success of Expat Packager launching in partnership with Marsden Building Society, it has developed a range of expat residential mortgage products.
Borrowers will benefit from more favourable terms, as new products designed with their circumstances in mind hit the market.
Purchase and remortgage solutions will be available with rates as low as 3.04% and loan-to-value (LTV) ratios of up to 80% – an advantage for non-resident Britons who wish to access finance when purchasing property in the UK.
The products will also offer greater flexibility. Mortgage terms extend up to 35 years for properties over £100,000, while overpayments of up to 5% per annum are allowed without penalties. Contactors are also accepted; however, borrowers must be aged over 25.
“We continue to be impressed by the residential mortgage products tailored for expats that our partners Marsden are bringing to market,” said Stuart Marshall, managing director of Expat Packager.
Available via Expat Packager, the new Marsden packaged products boast a competitive offering for mortgage brokers and their clients, particularly those who might struggle to secure acceptance from lenders.
Marshall added: “With our help, it’s now easier than ever for intermediaries to secure the best finance options for their clients.”
Heather Crinion, general manager at Marsden Building Society, commented: “We have developed an intimate understanding of the complexities that customers living outside the UK face when trying to secure finance. Our new residential products address some of these issues first-hand.”