Skipton International is extending its UK buy- to-let mortgage proposition to include applications from non-UK nationals resident overseas.
Previously the offshore lender only offered UK buy-to-let mortgages to British expatriates.
This news follows the decision to expand Skipton International’s investment property lending criteria over the last year. Skipton International increased the areas in which it will offer borrowing, to now include Scottish property and can offer lending on studio apartments with a purchase price of £250,000 or higher.
Roger Hughes, business development manager, said: “This is tremendous news for Skipton International. We have been continually refining our UK buy-to-let offering and will continue to search out ways in which we can make our products more readily available and inclusive.
“This development considerably widens the pool of clients to whom we can now offer lending and makes us one of the most competitive players in the UK buy-to-let market for overseas residents as there are only a few lenders that can offer UK buy-to-let mortgages to non-UK nationals. Growing our expat mortgage business will continue to remain a strong focus for Skipton International.”
Applications will continue to be restricted to clients residing in Skipton Internationals’ approved list of countries. To qualify, prospective clients will need to have a UK bank account in place to service the mortgage repayments and collect rental income.