Offshore bank Skipton International has launched a new range of mortgages for British expats. The Guernsey-based bank is offering two new fixed rates
For borrowers looking for a remortgage of £300,000 or more, the rate is fixed at 3.99% for five years. Smaller loans between £100,000 and £300,000 come with the higher rate of 4.49% again fixed for five years.
Application fees are £999, including a valuation and legal costs.
Jim Coupe, managing director of Skipton International, said: “British expats continue to look towards UK property as a good long-term investment and we aim to make the process of securing a mortgage as simple as possible, with good customer service at the heart.”
Skipton International has made several changes to the mortgages offered to expats. Besides the remortgage revamp, buy-to-let lending caps for expats were raised from £750,000 to £1.5 million.
Nigel Pascoe, director of lending, Skipton International, said: “Buy-to-let remains a popular long-term investment for British expats and we are delighted that our mortgage offering will be available to even more investors, who either want to buy a property or remortgage an existing one”.
The lender also said that since 2014, more than 1,000 mortgages worth over £200 million have been completed for expat customers from around the world.