Skipton International has extended the maximum mortgage term of its UK buy-to-let mortgages to 35 years.
Customers can now benefit from an additional five years on the maximum mortgage term; traditionally the market offers a maximum term of 25-30 years. Applicants will need to be 69 years of age or younger at the time of application and the facility must be repaid by the time the customer reaches the age of 85. Additionally, they must have a UK bank account in place.
This news follows a period of change to its lending terms which has seen the Channel Island bank include studio apartments within its property criteria, as well as offering mortgages to UK expatriates and non nationals resident overseas.
Roger Hughes, business development manager at Skipton International, said: “We have spent considerable time this year analysing our UK buy-to-let offering and looking for ways in which we can be more inclusive.
“These recent changes have prompted a great response from those looking to buy in the UK and we will continue to enrich our proposition to enable more people resident overseas to purchase investment property.”