You are here: Home - News -

Keystone launches cashback purchase range as Saffron BS cuts expat BTL rates – roundup

by:
  • 03/06/2019
  • 0
Keystone launches cashback purchase range as Saffron BS cuts expat BTL rates – roundup
Saffron Building Society has introduced reduced rates and extended terms on its range of expat buy-to-let (BTL) mortgages, while Keystone Property Finance has launched a cashback purchase only product range.

 

The cashback purchase only range launched by Keystone will offer £1,250 cashback on loans between £250,001 and £1m and of £750 on loans less than or equal to £250,000. The cashback will be paid at time of completion.

Sales and marketing director Phil Riches, said: “After running the cashback range for almost two months we received a lot of positive feedback from brokers and have decided to reintroduce this purchase only range.

“This range will mirror the standard and specialist rates which were reduced on 28th May, to continue assisting brokers and their clients purchasing in the buy to let market.”

The product ranges remain available to both individuals and limited companies.

Keystone’s cashback purchase only product range runs to 31 July 2019.

 

Saffron BS

Saffron’s range of expat mortgages is aimed at giving brokers the opportunity to offer a solution to landlords looking to purchase or re-mortgage a BTL property in the UK while living abroad.

Its fixed rates stand at 3.77 per cent and 4.17 per cent, at 55 per cent and 75 per cent loan to value (LTV), respectively.

Additionally, they include no restriction on countries, which means that expat landlords can live in any location around the world.

They are available to first-time buyers, with no UK mortgage history required and no minimum income. Rental cover stands at 140 per cent of pay rate.

Anita Arch, head of mortgage sales at Saffron BS (pictured), said: “With over a million UK Nationals reportedly living overseas there is significant opportunity for intermediaries wanting to tap into the expat BTL market.

“Although Brexit uncertainty is being touted as a potential factor to dampen this specific market we’ve seen little evidence of this from our customers. In fact this latest reduced rate offer has been introduced due to increasing demand for this product.

“The continuing strength in the UK rental market and the supply and demand factor adding value to property makes rental opportunities back at home an attractive investment for British expats living abroad.”

There are 0 Comment(s)

You may also be interested in

Read previous post:
House building not keeping up with demand due to population growth – Blend

In many towns and cities across the UK not enough houses are being built to keep pace with the increase...

Close