Ipswich Building Society relaunches expat 5-year fixed BTL deal

Jessica Nangle

October 18, 2017

Ipswich Building Society is relaunching its 5-year fixed expat buy-to-let deal.

The deal includes a 3.99% 5-year fixed rate, with a maximum 75% LTV, £500,000 loan and minimum income of £40,000.

The expat buy-to-let deal also includes a maximum of three buy-to-let properties in total and rental income must exceed mortgage payments by a ratio of 145%.

There is a £1,999 completion fee.

Shaun Church, director at Private Finance, said: “Many expats look to invest in buy-to-let property while living overseas as a way of generating income.

“However, in recent years expat mortgages for landlords have been harder to find and are subject to tough regulation.

“A 5-year fixed rate of 3.99% is very competitive circumstantially and the product is relatively inclusive, covering customers living and working in all non-sanctioned countries – including Australia, which can pose particular problems for expat borrowers.”

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