The Dudley Building Society has recently announced the launch of two new mortgage products for expatriates looking to purchase buy-to-let and holiday let properties. This is a welcome move for expatriates who have been struggling to secure mortgages from traditional lenders due to their unique circumstances.
The new products are designed to meet the needs of expatriates who are looking to purchase a property abroad. The buy-to-let mortgage product is available for up to 75% of the property value, with a maximum loan amount of £500,000. The holiday let mortgage product is available for up to 70% of the property value, with a maximum loan amount of £250,000. Both products offer competitive interest rates and flexible repayment terms.
The Dudley Building Society has taken steps to ensure that the application process is as straightforward as possible. Applicants must provide proof of income, such as a payslip or bank statement, as well as proof of identity and residence. The Society also requires applicants to provide evidence that they have sufficient funds to cover the deposit and any other costs associated with the purchase.
The Society has also made sure that the products are accessible to expatriates from all countries. The Society’s website states that they accept applications from expatriates living in Europe, North America, Asia, Africa, and Australasia.
The launch of these new products is a positive step forward for expatriates looking to purchase property abroad. The Society’s commitment to providing competitive rates and flexible repayment terms makes these products an attractive option for those looking to invest in a buy-to-let or holiday let property. With these products now available, expatriates can take advantage of the potential returns that come with owning a property abroad.