From today, Foundation’s expat proposition is available to non-SPV individual landlords who are UK nationals living as expats worldwide, as well as limited company borrowers.
Products will be available for standard BTLs, short-term lets, HMOs and green options all available up to 75% loan-to-value (LTV) for both purchases and remortgage with rates start-ing from 3.24%.
The range will be available to UK Nationals living as expats in over 60 countries worldwide as well as to those based in EU/EEA/Switzerland. Foundation can consider applicants that are employed and also those in retirement.
In addition, the lender now only requires evidence of one year’s income for expats, it has re-moved the automatic requirement to speak to the borrower, and it has broadened the range of ID/proof of residency it will consider.
George Gee, managing director of commercial at Foundation Home Loans, said: “Today we have broadened our expat buy-to-let product range offering, both in terms of the landlord bor-rowers we will accept, and the specific options available to them.
“Now individual expat landlords can secure finance, as well as limited company borrowers, and we have new products available for those purchasing or remortgaging green, short-term lets and HMO properties.
“We’ve also cut our fee levels and looked at our criteria and underwriting around expat mort-gages seeking to simplify and remove some of the administration burden for advisers and their expat clients.
“Investment in UK property remains an attractive option for many expats and this new range and criteria opens up the type of investment they can purchase and refinance, and the means by which they can do this.”
