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.

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%

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:

• 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

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.

• 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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