Richard Tugwell said: “As a lending specialist we are constantly looking for new innovative ways to enhance our proposition. We are seeing an increasing demand from expat customers and we wanted to enhance our offering to reflect this demand."
Specialist lender Vida has widened its range of expat locations to include India, Malaysia, Saudi Arabia and Singapore.
This expansion has added to the 41 countries currently accepted by Vida; customers in all of these locations can apply for a buy-to-let (BTL) mortgage up to 75% loan-to-value (LTV).
For expats living outside the EEA, the minimum property value required is £150,000.
UK registered special purpose vehicles (SPVs) are considered where at least one director or shareholder is an expat, and houses in multiple occupation (HMOs) and multi-unit blocks (MUBs) are also considered.
There is no minimum income required if the property is self-funding, and the maximum loan size is up to £1m. Vida lends on properties across England, Wales and Scotland.
Richard Tugwell, director of mortgage distribution at Vida, said: “As a lending specialist we are constantly looking for new innovative ways to enhance our proposition.
"We are seeing an increasing demand from expat customers and we wanted to enhance our offering to reflect this demand.
"Getting an expat mortgage isn’t always straightforward, but we aim to ensure that we deliver a first class intermediary experience and provide a great range of product options for our broker’s clients.
"We are confident that these will provide great solutions for our borrowers cut out of traditional mainstream lending.”
