The main features are:
· Rates from 2.09% Variable
· Normal product fees discounted from 1% to 0.85%
· Up to 70% LTV – Minimum loan of £100k
· Employed and self employed
· Capital raising allowed on remortgage for any purpose
Commenting, Liz Syms, managing director at Connect Overseas, said: “At Connect, we are never content to just market ‘off the shelf’ product packages and the result is a great offering for intermediaries whether they are experienced or coming new to providing overseas mortgages.”
She added: “The French property market is recovering as the recession begins to lift and their property market is still offering bargains for overseas buyers. This is one of the few products to allow remortgaging for any purpose, which could be very useful for UK residents who wish to leverage value in their overseas property in these difficult times. For those clients who are looking to raise capital for refurbishment or simply to get a better rate, then this new suite of products will be very welcome.”
