"We have seen a sharp increase in enquires for expat buy-to-let mortgages over recent weeks"
Dudley Building Society has launched new expat buy-to-let and expat holiday let products, alongside a new two-year fixed rate product and an interest-only discount for term product.
The Society has also reduced interest rates across its existing range of residential, expat residential, buy-to-let and holiday let products.
The new expat buy-to-let and expat holiday let products offer a discounted interest rate of 5.89% up to 80% LTV. The existing expat residential product has a reduced discounted interest of 5.89%, with the maximum LTV increasing from 80% to 85%.
Dudley’s new residential two-year fixed rate product is available at 5.59% up to 90% LTV. The new interest-only discount for term product has a discounted rate of 5.49%, with a maximum LTV of 75%.
Other interest rate decreases include Dudley's residential discount for term product, which now offers a discounted rate of 5.29% and maximum LTV of 90%, and its buy-to-let and holiday let discount for term products, which both now offer a discounted rate of 5.79% up to 80% LTV.
Robert Oliver, distribution director at the Society, said: “We have seen a sharp increase in enquires for expat buy-to-let mortgages over recent weeks, which prompted us to introduce these new products to enhance our expat offering. Our ability to make human decisions allows us to meet the complex needs of expat applicants, as we will accept applicants from a wide range of countries in over 160 currencies.
“We are also delighted to be reducing interest rates across our whole product range, with products available for applicants with a wide range of requirements. As we continue to make changes to our offering, we want to assure our partners that maintaining our service levels remains our top priority.”
