Marsden Building Society has been supporting UK expats living and working abroad for over a decade now, helping those who want to purchase or remortgage either an investment or main residential property in the UK with their Expat Buy to Let and Expat Residential ranges.
How can they help your expat applicants?
- They accept applications from expats residing in a number of countries*
- They lend to UK Nationals working abroad or in the UK who are paid in a foreign currency
- They accept 17 different foreign currencies and there are no currency restrictions on self-financing buy to let cases
- They accept first-time buyers & first-time landlords
- Their minimum income requirement is £37,500 per application
- They also offer Furnished Holiday Let mortgages for your expat clients.
Update to Their Expat Buy to Let stress rates
For 5-year fixed rate products, they now offer a revised stress rate as follows:
- 125% at 4.5% and for top slicing cases, 115% at 4.5% for Basic Rate UK Tax Payers.
Any discount rate products or fixed rate products that have a duration of less than 5 years will continue to be stressed at 125% at 5.5% or product rate +2%.
Why choose the Marsden?
- They have a variety of products to meet your clients’ needs.
- They appreciate that not all cases are straight forward, so all cases are reviewed on an individual basis by their expert team who have access to key decision makers.
- No one likes going from pillar to post, so from the moment you submit a case with them, you’ll have a dedicated underwriter to speak to when you have questions or queries.