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

Key points for our Expat Limited Comapny BTL mortgages:

• Available to First-Time-Landlords & First-Time-Buyers
• All documentation not in English will need to be translated by a qualified translator - e.g Bank statements, payslips and proof of address documents.
• Regulated or consumer buy to let not accepted.
• HMO not accepted.
• 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. Please note this is a requirement of an offer and we will not proceed to completion without this.

Product 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
• Fees can be added to the loan for debt for debt remortgages
• Property must be let on an AST
• Rental assessment is based on occupation by 1 family on an unfurnished let
• Maximum Portfolio with Saffron of £3,000,000 (no external exposure limit)
• Interest only or repayment
• For first time buyers and/or first time landlords, at least one applicant must meet the minimum income requirement of £25,000.
• Minimum energy performance rating of E on an Energy Performance Certificate (EPC)
• Limited Companies registered in the UK only
• No time limit as to how long registered i.e. new SPV’s allowed
• Company must be set up with the principal activity of buying and holding residential investment property and used for that purpose only in line with the appropriate SIC Code
• Latest set of accounts to be provided (where the company has been set up for more than 18 months)
• All Shareholders in the Company must be named as Directors
• Personal Guarantees for total borrowing (plus accrued interest & costs) taken from all Directors for applications exceeding 55% LTV
• Maximum of 4 Directors – individual credit checks will be undertaken
• Details of all properties each Director has an ownership in (either in own name or a business name) must be provided.
• Maximum loan size £3,000,000.
• Loans over this are priced on a bespoke basis and have restricted LTVs
• For portfolio landlords the maximum LTV INCLUDING fees is 75%