Expat Mortgage Terms
International
Mortgage
EXPATRIATE MORTGAGE TERMS - MARCH 2009
LENDER INTEREST RATE% MAX.% ARRANGEMENT SPECIAL FEATURES
Plans
ADVANCE FEE
Bank of Scotland Intl. Bank base +1.89% 70 1% GBP100,000 minimum. Early Redemption Charge
3% - 36 months
BM Solutions 5.49% 3 year tracker 75 0 Applicant must work for Govt Agency or Multi
National Company. Rental calculation 125% at
4.99% 3 year fixed 60 2.5% payrate.
Cheltenham & 4.29% 2 year fix 75 995 Limited offers via IMP
Gloucester Every case has to be agreed with an underwriter
4.69% 3 year fix 75 895 before submission.
Will not lend to Self employed expat applicants.
5.29% 5 year fix 75 995 Employed applicants need to work for large
companies. Available for main UK residence only.
4.09% 3 year tracker 75 895 Free property valuation and low cost legal fees for
remortgages.
Different terms available for loans between £1 million
Expatriate
and £5 million
Dresdner Kleinwort Cost of funds +1-1.5% Purchase 60 Up to 0.75% Minimum loan GBP500,00
mortgages
Benson Remortgage 50 Minimum income GBP150,000
Fortis Bank Group Sterling mortgage 70 GBP500 Minimum Loan £150,000 -
LIBOR + 1% 75% owner/family occupation.
from the
Foreign currency 70 GBP500 Loans to offshore companies and trusts.
mortgage
Cost of funds +1.25%
expat experts
Halifax PLC 5.09% 2 Year Fix 75 GBP999 Very restrictive terms. No capital raising allowed.
Max GBP500K Must be returning to the UK within 2 year period. 6
months bank statements required.
GBP799
4.39% 5 Year tracker Redemption Penalties
Max GBP500K Fixed rate 2% in first 3 years
HSBC Under review 70 Varies Many existing expat HSBC bank customers come to
Repayment basis us after being told that they will not have a problem
only obtaining an expat mortgage for a UK property with
the bank and then find that the bank is unable to
65% Interest only lend to them.
The London office can only deal with “FSA regulated
4.49%
loans” where a family member will be resident in
the property.
Applicants need to be in salaried employment or
professional occupations such as Dr’s, Dentists,
Solicitors or Accountants
Ipswich Building 4.49% two year 75 GBP695 IMP exclusive expatriate buy to let scheme
Society discounted rate No early repayment penalties at anytime
Discounted 2 years from completion
Will only lend on houses including new build
• Interest only loans - no conditional
insurance • No extended tie ins • No
Irish Permanent Temporarily withdrawn 75 1% Loans to offshore companies and trusts.
(Isle of Man)
early redemption penalties •No extra
charge for letting • Mortgage facility
Natwest Bank Base rate + 2.79 60 1% New build flats maximum 80% letter in advance of your property
choice • Free legal transfer and
Royal Bank of Scotland Base + 2.79% 2 year 60 1% Minimum GBP100,000
valuations for refinancing
International tracker
Base + 2.99% 2 year 65 1%
Loans require one British passport
tracker
holder and are for UK property
security only. Call, write, fax or visit
This table is supplied by IMP, for information purposes only, and is not to be viewed as a recommendation. our website now for details.
Notes: Some Lenders have onerous redemption penalties for fixed and discounted terms.
A usual penalty is six months interest in the first five years. Loans are, however, portable, but proportionate penalties would apply
www.international-mortgage-plans.com
unless similar amount loans were taken. There are also proportionate penalties on partial repayments. BANK OF SCOTLAND, FORTIS,
KLEINWORT BENSON and ROYAL BANK OF SCOTLAND all offer loans via offshore trusts and offshore companies. Arrangement
fees can be as much as 1per cent of the loan. Some lenders make life assurance cover obligatory. Others insist on their “in-house”
buildings and contents insurance as a loan condition. Arrangement Fees - All fees quoted are payable to the lender and are usually
added to the loan, although some require payment with the application. IMP will charge an arrangement fee of 0.25 per cent subject
to a minimum of GBP250 and a maximum of £700 but this can be waived where associated financial products, such as mortgage
protection, are effected through the company’s agencies. Most lenders have now settled on a base variable rate of circa 4/4.5%. Bank
rate @ 05/02/09 - 1.0% 3 month LIBOR 2.071%, 19/02/09. IMP are authorised and regulated by the Financial Services Authority
(302775) for mortgage advice and hold Consumer Credit Licence No: 592583.
www.international-mortgage-plans.com
Blandings, Cobbetts Hill, Weybridge,
Surrey KT13 0UA
Tel. +44 1932 830660
Fax +44 1932 829603
email: info@international-mortgage-plans.com
March 2009 I MONEYworks I 49
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