We have however, sourced one specialist lender with a more flexible approach who will, in principle, consider expats who do not currently own a home in the UK provided that they are British nationals and it can be demonstrated that the applicants have owned in the UK previously.
The lender concerned typically lends on a fixed rate basis and, as a further benefit, the lender will allow part or all of the interest to be deferred and rolled up as a capital balance. To the extent that interest is deferred, the lender does not apply a stress test to the rental income derived from the investment property. This is particularly attractive for low yielding assets.
Loans are available on a first charge basis, up to an initial maximum of 65% loan to value and you can select a term of up to 5 years. Loans of up to £5m are routinely approved and larger advances are considered by exception, as every case is individually underwritten, and the lender has a commercial and flexible approach.
This product is just one example of our brilliant services that we offer our expat and foreign national clients, as we have worked hard to increase our international offering this year.
If you are interested in this product, have any questions for our expert brokers about the market or wish to be introduced to the relevant lender, please do not hesitate to get in touch.