You are here: Home - News -

Skipton International launches UK expat remortgages range

by: Tim Chen
  • 23/10/2017
  • 0
Skipton International launches UK expat remortgages range
Skipton International, an offshore bank, has increased its buy-to-let remortgage offerings for UK expats.

UK expatriates are offered a five-year fixed rate remortgage BTL product, for £300,000+ loans at a 3.99% interest rate, or at 4.49% for loans over £100,000. Skipton customers can also release equity based on a reduced pay rate.

The Guernsey-regulated bank already offers an existing portfolio of buy-to-let mortgages, and has reduced the fixed application fee for all remortgage products to £999, which includes valuation and legal costs with no further product fee.

In principle decisions can be provided over the phone and the bank says that remortgages can be processed in as little as 16 days from receipt of application.

Ian Gray, senior partner at Kinnison, thinks that specialist lenders are offering expat focussed products because the market allows for higher rates: “Specialist lenders like building societies don’t have the clout of big banks to buy money in, so they lend from their own savings book. And because their funding model is quite traditional, they have to find a niche in the market to charge a higher rate.”

“We’re seeing specialist lenders offering products for expats because it’s a market where you can charge more.” Gray continued, “There are a few more players in the market, and these few players are really taking in a huge margin — because there isn’t much competition and expats know there’s not much else to choose from.”

“The normal high street lenders are still not engaging because their appetite for risk is still extremely low after the credit crunch, and there’s still enough demand for normal domestic mortgages which are lower risk,” Gray added.

The market for international mortgage arrangements saw a host of changes in 2015, when measures to tighten up the largely unregulated market were introduced in the European Union Mortgage Credit Directive (MCD).

Despite this, according to Moneyfacts, the number of expat BTL mortgages has increased from 105 in April 2016 to 191 this October.

Shaun Church, director at Private Finance, thinks this trend is due to both the capacity and willingness of smaller firms to invest in the international mortgage market: “The main reason is that if you look at the lender, they’re either challenger banks or smaller building societies. Smaller organisations are more flexible in terms of their approach — for a large multinational bank to implement a system that’d adhere to MCD, the returns on balance is probably not worth it. A smaller society can implement a system much more quickly, so it’s more worthwhile and can be done with a decent return.”

“In short, they’re a bit more willing, and a bit more able.” Church added.

Jim Coupe, managing director at Skipton International, said: “British expats continue to look towards UK property as a good long term investment and we aim to make the process of securing a mortgage as simple as possible, with good customer service at the heart.”

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.


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.


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.


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.
  • Jo Wilson from Legal & General Home Finance talks about her Best BDM nomination and her love for the equity release…
  • Sponsored content: Four reasons your client wants a product transfer by Halifax Intermediaries…
  • Nationwide trims rates as Accord ups cashback on buy-to-let deals -

Read previous post:
hand and mobile phone keyboard
The Cambridge Building Society launches mobile android app

The Cambridge Building Society has introduced a new mobile android application as a part of its “ongoing investment in technology...