NEWS: Marsden Building Society Introduces 85% LTV Expat Mortgages

Marsden Building Society has announced that it will now be offering residential mortgages to UK expats at a maximum loan-to-value (LTV) of 85%, making it only the second lender in the expat mortgage market to provide such high LTV ratios.

This move is a significant development for the sector, as it increases competition within this loan-to-value band, potentially leading to more favourable terms and rates for expatriate borrowers.

The introduction of Marsden’s 85% LTV product is a welcome change for expats who are seeking to purchase property in the UK but have a lower deposit.

Previously, most expat mortgage products required at least a 20-25% deposit, which could be a barrier for many buyers. With this new offering, expats can now access the UK property market with just a 15% deposit, thereby enhancing their purchasing power and widening the pool of eligible buyers.

Impact on the Market

The new product from Marsden is likely to drive greater competition among lenders in the expat mortgage market. With more lenders entering the 85% LTV space, there’s potential for improved rates, better service, and enhanced flexibility for brokers to negotiate better deals on behalf of clients.

Luther Yeates, Head of Mortgages at UK Expat Mortgage, commented on the development:

“Marsden’s move to offer 85% LTV residential mortgages is an exciting development for the expat mortgage market. It empowers brokers to secure more competitive terms for clients, and more importantly, it provides a broader range of options for expats with a lower deposit. This product will give confidence to expat buyers looking to invest back home in the UK market.”

For more information or to discuss the options available, contact UK Expat Mortgage, the specialist expat mortgage broker, for expert advice on navigating the expat mortgage market.

Looking for property finance in the UK as a non-resident? Get in touch for an independent summary of your financing options.