Standard Chartered is offering a competitively priced buy-to-let rate as part of its remortgage campaign.
The rate is a LIBOR tracker mortgage below 3% with a 0.5% arrangement fee. There is also reduced legal and property valuation fees.
Standard Chartered typically provides mortgages to clients living in Asia, Africa and the Middle East and offers buy-to-let purchases and remortgages. The property will need to be in a Prime area of London, typically includes Kensington & Chelsea, Hammersmith & Fulham and Richmond. It will consider areas like Camden and Richmond.
Aaron Strutt, product director at Trinity Financial, says: “Most clients going to Standard Chartered are coming from Singapore, Hong Kong, UAE and Nigeria, there also help Indian nationals’ resident in Dubai.
“Applicants will need to deposit £100,000 in a linked savings account as part of the account opening process, although it is possible to borrow the funds with the mortgage advance if necessary.”
The maximum the bank offers as part of the remortgage campaign is 70% loan-to-value on capital repayment. With the hybrid product, this increases to 75% loan-to-value and the rate will need to revert to the bank's standard product offering. The product has long early repayment charges and allows up to 20% overpayments each year.
The lender recently refined its Islamic Finance proposition, so the rates are now at standard pricing up to 60% loan-to-value.
Call Trinity Financial on 020 7016 0790 to secure a buy-to-let mortgage