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Expat criteria

The maximum loan to value per property for purchases and remortgages is:

  • Up to 70% LTV – maximum loan up to £750,000
  • Up to 65% LTV – maximum loan up to £1,000,000

Any fees that may be added to the loan are excluded from the LTV calculation.

Affordability

All calculations will be based on either the current reference rate published on our website, or the product charging rate plus 2%, whichever is the greater.

The affordability of the application will be assessed as follows:

  • For individual and joint applicants, and for limited liability partnerships (LLPs) with expatriate members, the gross rental income should be equal to, or exceed, the Interest Coverage Ratio (ICR) of 140%
  • For limited company applications, the gross rental income should be equal to, or exceed, the ICR of 130%
Applicant type Single self-contained units
Expatriate applicants and LLP’s with expatriate members 140%
Limited company with expatriate directors 130%

Applicants

Applications will be considered for Expatriates, who must hold a current UK passport and are residing outside of the UK in one of the following countries:

Austria

Belgium

Bulgaria

Canada

Cyprus

Czech Republic

Denmark

Finland

France

Germany

Greece

Hungary

Iceland

Ireland

Italy

Japan

Netherlands

Luxembourg

Malta

New Zealand

Norway

Poland

Portugal

Singapore

Slovakia

Slovenia

Spain

Sweden

Switzerland

USA

  • Applications will be considered from limited companies / LLPs registered and trading in England, Wales or Scotland, and whose directors/members are expatriates
  • All applicants must have held a UK bank account for a minimum of three years
  • All applicants must provide a certified copy of their current UK passport, together with three separate proof of residency documents
  • A UK credit search will be undertaken wherever possible. Applications will not be considered where there is evidence of poor credit history
  • There is no minimum income requirement, but applicants must provide details of all income
  • All employment statuses are accepted, and full details must be provided as part of the application
  • We cannot accept applications that qualify as Consumer buy-to-let from expatriate applicants

Property

Available for single self-contained properties only, with no restrictive covenants in place. The services of a managing agent must be engaged to oversee the property, and details of the agent must be provided prior to completion of the loan. For purchase applications, proof of the source of deposit will be required in all instances.

Submission requirements

  • A certified copy of a current UK passport
  • Three separate proof of residency documents
  • Proof of source of deposit for purchase applications
  • Details of all applicant income
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Holiday let criteria

View details
Portfolio BTL

Portfolioproducts

For landlords with four or more mortgaged buy-to-let properties and those operating as limited companies and limited liability partnerships.

Non-Portfolio BTL

Non-portfolioproducts

For landlords with up to three mortgaged buy-to-let properties and consumer buy-to-let customers.

Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551

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