Derbyshire Building Society has launched a buy-to-let and flexible tracker mortgage for UK nationals who live abroad, but still own property in the UK.
The buy-to-let mortgage has a three-year fixed rate of 5.25% until 31 August 2009. Overpayments can be made of up to 10% each year without incurring early repayment charges. At the end of the three-year term, the interest rate tracks the Bank base rate plus 1% for the remainder of the mortgage. These terms are available for up to 10 properties or a maximum amount of £1.5m per applicant. The flexible tracker mortgage is only available to expatriates who have a spouse or family member living in their UK property. It tracks the Bank base rate plus 0.25% for two years until the 31 August 200...
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