Marsden Building Society has relaunched its expat furnished holiday let (FHL) range, giving more opportunities to UK and foreign nationals.
Marsden Building Society will consider applications from UK and foreign nationals or expats buying a property in England and Wales, although foreign nationals will need the permanent right to reside or have pre-settled or settled status.
Applicants do not need to own a main UK residence, so the mutual can consider first-time buyers and first-time landlords.
Borrowers can also use the FHL property for 90 days of personal use.
In the FHL range, there is no personal affordability assessment, interest-only or repayment mortgages up to 75% loan to value (LTV), with a minimum personal income requirement of £25,000 per application and a minimum property value of £125,000.
Calculations are based on 30 weeks’ rental income using an average of low, medium and high season figures.
Donna Barclay, head of lending at Marsden Building Society, said: “We understand the challenges expats face when investing in UK property and we’re dedicated to providing them with the support they need.
“Our relaunch into the expat FHL market further reflects our commitment to our intermediary partners and meeting the requirements of their expat clients. This, coupled with our recent mortgage criteria updates, will help to provide an even smoother and seamless process for brokers to submit business to us.”
Marsden recently changed its expat mortgage criteria and launched a trio of fee-free FHL deals earlier this month.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
