More expats looking to remortgage off of a high standard variable rate
Trinity Financial has seen an increase in the number of expat borrowers remortgaging their UK properties in order to lower their monthly repayments.
Expats often have difficulty finding a mortgage lender that is happy to offer them a low rate, especially after Lloyds Banking Group pulled out of the market. However, there are a number of lenders still happy to offer expats best buy mortgages.
Aaron Strutt, product manager at Trinity Financial, says: "Two of our banker clients letting their UK properties and living in Hong Kong recently moved off of their lenders high standard variable rate.
"One of the most popular remortgage rates is a two-year fix at 1.95%. The mortgage has a £1,495 arrangement fee and the lender requires a 40% deposit.The maximum loan size is £1.5 million.
This lender is happy for the property to be let out until the owner returns to the UK and their standard variable rate is 4%.
If you would like help to secure an expat mortgage, call us on 020 7016 0790.
September 20, 2013
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