Impact Specialist Finance has launched an expat mortgage product with Dudley Building Society. 

The new product is available through a select group of packagers, including Impact Specialist Finance. 

The product is designed for UK citizens living abroad who are purchasing a residential property, with the option of returning to the UK in the short to medium term.

Available for purchase or remortgage up to 85% loan-to-value (LTV) at 5.99% and on a capital and interest or interest-only basis.

It is available on a minimum loan of £25,000 and the maximum is £1.5m with an arrangement fee of £750 and application fee of £125. 

The early repayment charge is 1% in year one, 0.5% in years two and three and overpayments are allowed up to 10% per annum for three years without charge.

Impact Specialist Finance managing director Dale Jannels says: “Despite the challenging economic outlook, it’s great to see lenders such as Dudley Building Society provide choice in an underserved area of the market. We see a lot of enquiries from brokers for expat clients, so having this option available should prove extremely popular.”

Dudley Building Society distribution director Robert Oliver adds: “It’s great to return to the market with a product that is not readily available to most advisors.”