After launching a buy-to-let mortgage deal for British expats, Aldermore Bank has partnered with Expat Packager to make this product available to brokers.
The product is eligible for both remortgages and purchases of up to 75% loan-to-value. Rates start from 4.18% with a procuration fee of 0.75%.
Stuart Marshall, director of Expat Packager said: “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.”
Aldermore’s product is available to British citizens and foreign nationals residing in any country within the FATF (Financial Action Task Force).
Funding is available for individual buy-to-let units, HMOs (of up to six beds) and multiple units (up to four) on freehold titles.
First-time landlords are considered if they meet personal income requirements and existing landlords are free from minimum personal income criteria altogether.