Foundation Home Loans has launched an exclusive buy-to-let range for expat landlords.

The broker-only lender says its Foundation’s Expat products are available to non-special purpose vehicle individual landlords who are UK nationals living as expats, as well as limited company borrowers.

The range covers standard BTLs, short-term lets, houses in multiple occupation and green options at up to 75% loan to value for both purchases and remortgage, with rates starting from 3.24%.

The lender adds that the products are available to UK Nationals living as expats from over 60 countries, as well as to those based in EU/EEA/Switzerland. It will consider applicants that are employed and those in retirement.

It says the interest coverage ratio on the range is calculated in the same way as Foundation’s core range – 125% for basic-rate taxpayers and limited companies, and 145% for all others.

The firm adds that it has simplified its underwriting requirements for advisers and their expat clients.

The lender now only requires evidence of one year’s income for expats and has removed the automatic requirement to speak to the borrower.

It has also broadened the range of identification and proof of residency it will consider to include residency cards, official UK government-issued correspondence, and credit and utility statements from UK firms.

Foundation Home Loans managing director, commercial, George Gee says: “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 mortgages seeking to simplify and remove some of the administrative 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.”