Dudley Building Society ups max LTVs on expat residential range
Dudley Building Society has increased expat loan-to-values to 80% on residential products with a rate of 3.84% and 70% on buy-to-let with a rate of 3.99%.
The maximum loan amount has been increased to £1m and arrangement fees have been changed from a percentage fee to a flat fee of £1,499.
Early repayment charges can be waivered during the three year period if the customer returns to the UK and wants to transfer to a retention product with the society.
Sam Ward, head of lending at Dudley, said: “Our guide will help to support our intermediaries with their expat cases.
“Over the last few months, we have made a number of improvements to our products and criteria in this area and we understand the difficulties our intermediaries face to stay on top of what lenders are offering – hopefully this will help.”
She added: “The guide will act as a reminder of our key criteria points such as the wide range of countries we consider for UK citizens currently living abroad, excluding those found on the sanctioned list.
“We cater for borrowers that may have complex income or employment situations, where we often combine a number of our areas such as interest only, self-employed, self/custom build and later life lending to arrive at real solutions for our partners.”
The society will launch an expat guide to provide more guidance on product and criteria information.