Marsden Building Society has made a series of changes to its expat mortgage criteria, including new options for expats looking to buy flats.
The updates apply to both expat residential and expat buy-to-let (BTL) products, and will help UK and foreign nationals with permanent rights to reside who are living overseas.
The maximum loan-to-value (LTV) for flats has gone up from 60% to 75%.
Marsden will now consider flats with 100% flat roofs, depending on the valuer’s comments.
The maximum permitted number of storeys has increased from six to eight, and the maximum storeys with a lift requirement has gone up from four to six.
The minimum property value for expat BTL has dropped from £167,000 to £150,000.
Jo Cave, head of mortgages at Marsden Building Society, said: “Supporting expat borrowers is an important part of our specialist lending approach.
“Regularly reviewing our lending policies ensures we continue to meet the evolving needs of intermediaries and their clients.
“These updates are designed to offer greater flexibility and more tailored options, reinforcing our commitment to personalised lending solutions.”