Related topic: Expat

Borrowers will be given the option to open a payment account with Algbra to manage their home finance payments.

The Society’s SVR is also reducing by 25bps.

77% of brokers have seen demand from non-UK residents increase over the past five years.

The Society has launched an expat self-build proposition and increased the maximum LTV for foreign nationals to 90%.

The product offers brokers a short-term solution for expat landlords seeking payment certainty amidst ongoing market reforms.

Grant Hendry, director of sales at Foundation Home Loans, says the complexity of expat borrowing means the traditional, one-size-fits-all approach to lending rarely works.

The reductions cover residential, buy-to-let, expat, and holiday let products.

The specialist lender will reduce rates by up to 1.50% for expats and foreign nationals.

It has also streamlined the application process for UK expats living in the US.

The Society has also announced rate reductions of up to 10bps.