The Mansfield launches expat buy-to-let range

Mansfield Building Society has launched an expat buy-to-let mortgage which is initially available through selected brokers including deVere Mortgages, John Charcol, Coreco, Large Mortgage Loans and Alexander Hall.

Related topics:  Mortgages
Rozi Jones
19th June 2018
iStock_000015704355Medium.jpg
"We’ve worked with our broker partners to establish our proposition and are delighted to be offering them more choice to help them find solutions"

The two-year discounted variable product has a current rate of 2.79% and is available up to 70% LTV with a £199 application fee and 1.25% completion fee.

The interest coverage ratio is 125% at 5.5%, the maximum loan size is £500,000 and new build houses will be accepted.

The expat mortgage is the latest addition to The Mansfield’s buy-to-let range which already includes 'family' buy-to-let, consumer buy-to-let, and the ability for applicants to use earned income to make up rental shortfalls.

David Newby, mortgage executive at The Mansfield, said: “With a much greater emphasis already placed on assessing the financial stability of buy-to-let landlords, we have been able to leverage our existing underwriting expertise and expand our already extensive proposition seamlessly.

"We’ve worked with our broker partners to establish our proposition and are delighted to be offering them more choice to help them find solutions in an increasingly complex mortgage market.”

More like this
Latest from Property Reporter
Latest from Protection Reporter
CLOSE
Subscribe
to our newsletter

Join a community of over 30,000 intermediaries and keep up-to-date with industry news and upcoming events via our newsletter.