Kent Reliance has launched a new product to add to its buy-to-let mortgage range.
The expat buy-to-let mortgage is aimed at people who are temporarily living or working abroad but want to enhance their UK investment property portfolios.
The mortgage will be available to private landlords on standard buy-to-let properties and is a two-year discount at 4.49%, with a 2% arrangement fee.
The deal is available up to 75%, with a minimum loan size of £125,000 and a maximum loan size of £1.5m.
Properties must be in London or South East only and the borrower must already have a UK property (residential or buy-to-let).
John Eastgate, Kent Reliance’s sales and marketing director, said: “We have seen a surge in demand from expats looking for buy-to-let products. Invariably, they are experienced landlords with a strong track record, yet the fact that they reside overseas excludes them from most UK lenders. We are delighted to offer a competitive solution for them.
“The buy-to-let market is growing and evolving rapidly, and as specialists in this area we will continue to work closely with our broker partners to identify trends and develop products which will meet their clients’ needs.”