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One Savings Bank overhauls expat products and criteria

  • 01/11/2017
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One Savings Bank overhauls expat products and criteria
OneSavings Bank is to make major changes to its expat mortgage product ranges through its Kent Reliance and InterBay Commercial brands.

New two-, three- and five-year fixed-rate options with pricing starting from 3.79% for Kent Reliance and from 4.45% for InterBay Commercial will be introduced.

Applications for Houses in Multiple Occupation (HMOs) and limited companies will also be accepted on expat terms.

For Kent Reliance applications the requirement for the applicant to be either a professional or purchasing within London and the South East has been removed and instead two specific categories will apply:

  • Expat Standard including loans to individuals on standard flats and houses;
  • Expat Specialist including mortgages for limited companies, HMOs and student lets.



Other criteria changes include simplified eligibility criteria, and a minimum income of £50,000. In addition, Kent Reliance will lend to Australian Expats when the property is held in a UK Limited company.

Data from Moneyfacts showed that the number of expat buy-to-let mortgages has increased from 105 in April 2016 to 191 this October.

This includes new offerings from Ipswich Building Society and Skipton International, while Liquid Expat Mortgages said enquiries from expats has increased by 90% compared to 2016.

One Savings Bank sales director Adrian Moloney said: “We know that many expats choose to invest in buy-to-let property in the UK whilst living abroad as a way of generating income. However, it has become increasingly difficult for them to find or access these specialist mortgages.

“This is a relatively under-serviced area and one that our brokers have highlighted that they would like to expand into. These changes will result in an improved proposition to support their customers’ needs as well as offering customers more competitive pricing.”

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