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Follow on Google News | Expatriate mortgage market showing signs of easing, thinks Offshoreonline.orgAfter years of bad news, expatriate buyers should, on balance, have an easier time in 2014 finding a lender for a UK mortgage, thinks specialist international mortgage broker Offshoreonline.org.
By: www.offshoreonline.org At least three new lenders are now offering loans to expatriates of all nationalities who want to buy either their main home or a buy to let in the UK. Two of these are regional building societies, the third an international bank which specialises is central London properties. Importantly for expatriates in Saudi Arabia and Australia, two of the most popular destinations for working expatriates, the banks will again lend to residents there. “For the regional UK building society this is a market which makes perfect sense. Most have always underwritten loans individually, so they have clear grasp of the risk profile of the borrower. For these organisations, a working UK expat on a solid contract earning a tax free salary is a very attractive proposition, so it was only a matter of time before they began to wake up to the opportunities out there,” said Tim Harvey, Offshoreonline.org’ Expats looking to buy a main home where a close member of family will be living, can now access variable mortgage rates as low as 3.14%, with a 20% deposit. Buy to let rates start from 4.99% with 40% deposits or 5.13% with a 25% deposit. End
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