Specialist brokerage Capricorn Financial Consultancy has secured exclusive access to a new one-year fixed-rate non-resident BTL product.
This will enable the firm to exclusively arrange loans for suitable clients using this mortgage option.
The product, designed to aid eligible international buyers to invest in properties in England and Wales, offers a fixed rate of 3.99% for one year and is available at maximum 70% LTV.
After the one-year fixed period, the mortgage will revert back to Bank of England base rate + 3.99%, with buyers repaying both capital and interest over a standard 35-year period.
An interest-only product is also available with an additional 75 bps rate loading.
The option is available for purchase of non-resident properties in England and Wales.
Security must be let or to be let, and applicants and/or their families cannot reside at the property.
The product is available to borrowers from China, the Middle East, Turkey, Malaysia, Thailand and other selected countries.
Conor Murphy, CEO and founder of Capricorn Financial Consultancy, said: “International buyers continue to look to UK housing stock as an attractive asset class, with London the valuable centre point.
“Stabilising house price inflation and a favourable exchange rate are continuing to boost interest in UK property, and today’s announcement is another important step in our mission to help more overseas buyers to invest in these valuable assets.”
