Expat Ltd Co BTL

Our Expat Limited Company Buy to Let products are available for landlords operating via a UK registered limited company to purchase or remortgage a property whilst one or more directors reside abroad.

Eligibility and applicant criteria

• Available to First-Time-Landlords & First-Time-Buyers
• Regulated or consumer buy to let not accepted.
• HMO not accepted.
• All documentation not in English will need to be translated by a qualified translator - e.g Bank statements, payslips and proof of address documents.
• No country restrictions – subject to list of sanctioned countries. If all directors reside abroad, we will condition the offer for nomination of a UK solicitor with a minimum of 2 partners who will act for the applicant, on whom the society can serve notice in the event of default.

Loan, Fee and product details

• Fees can be added to the loan for debt for debt remortgages; For portfolio landlords the maximum LTV INCLUDING fees is 75%
• Maximum Portfolio with Saffron of £3,000,000 (no external exposure limit); Loans over this are priced on a bespoke basis and have restricted LTVs
• Interest only or repayment
• Maximum loan size £3,000,000
• Personal Guarantees for total borrowing (inclusive of fees) taken from all Directors for applications exceeding 55% LTV

Property requirements

• Property must be let on an AST
• Minimum Property Value: £100,000
• Rental assessment is based on occupation by 1 family on an unfurnished let
• Minimum energy performance rating of E on an Energy Performance Certificate (EPC)

Affordability and income criteria

• 5 Year Fixed Rate - 125% of pay rate
• 2 Year Fixed Rate and Variable rates: Rental cover 125% of either pay rate +2% or 5.5% whichever is higher
• Rental Cover on debt for debt remortgage cases 125% of pay rate
• For unexperienced landlords, at least one applicant must meet the minimum income requirement of £25,000 and a minimum of 12 months landlord experience