You are here: Home - News -

Skipton widens expat BTL business to Turks and Caicos Islands

by:
  • 22/02/2017
  • 0
Skipton International has rolled out access to its buy-to-let mortgage range to British expats living in the Turks and Caicos Islands.

Products in Skipton’s buy-to-let range for expats are a three-year discount mortgage and five-year fixed rate, both up to 75% loan-to-value (LTV).

Its three-year discounts come at 2.99% and 3.74%, with a minimum loan size of £300,000 and £100,000, respectively. The lender’s five-year fixed rate products come at 4.24% and 4.74%, with a minimum loan size of £300,000 and £100,000, respectively. Both deals are available for purchase and remortgage.

Annual rental income of 125% at 6% is required, unless the five-year fixed rate is selected for which the rental income is required to be 125% of the product pay rate.

Nigel Pascoe, director of lending, Skipton International, said: “We are delighted to be able to help British expats in the Caribbean island invest in UK buy to let. We have seen growing demand from British expats around the world and we hope to continue opening up the mortgages when possible.

“UK buy to let remains a very popular long term investment for British expats. We saw a large increase in applications following the devaluation of sterling last autumn, with expats viewing it as an opportunity to use foreign savings to buy UK property. This demand has continued into 2017, with January being particularly busy.”

According to findings by Skipton International, up to 40% of expat mortgage customers in Greater London are investing in buy-to-let properties, with 25% in the South East.

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @ashridgepf: Well what a surprise! We love our clients and they obviously are quite fond of us. Mortgage applicants find humans more r…
  • RT @DanielleDennis9: Always love reading through the tweets of the year every December! Have a look through to recap on a great year https:…
  • RT @mortgagestall: Great to see the hard work brokers put in is getting ever-more recognised https://t.co/cg4ZaJzZJZ
Read previous post:
Houses of Parliament
Lenders back Bill on missing borrowers

The Council of Mortgage Lenders (CML) has announced its support for proposed new legislation which would see a guardian appointed...

Close