A specialist bank has opened up its buy-to-let (BTL) product to allow expatriate investors to fund projects in the UK.

Kent Reliance, which forms part of the OneSavings Bank Group, has expanded its BTL mortgage range by granting access to foreign borrowers looking to fund the acquisition of rental property in the UK.

The so-called ‘Expat BTL Mortgage’ range is aimed at customers who are temporarily living or working abroad, but would like to enhance or expand their UK investment property portfolios.

The mortgage has been made available to private landlords with standard BTL properties considered, and is available on a two-year discount basis.

The product can offer up to 75 per cent LTV, and will furnish loans worth between £125,000 and £1.5 million.

The two-year deal carries an initial rate of 4.49 per cent and requires a two per cent arrangement fee.

Kent Reliance has suggested that the opportunity is perfect for landlords looking to:

- Take advantage of lowered property prices in preparation of their return to the UK;
- Extend or increase leverage on existing portfolios; or
- Turn their residential property into a BTL investment.

Speaking about the introduction of the new product, John Eastgate, Sales and Marketing Director at Kent Reliance, said: “We have seen a surge in demand from expatriates looking for BTL products.

“Invariably, they are experienced landlords with a strong track record, yet the fact that they reside overseas excludes them from most UK lenders. We are delighted to offer a competitive solution for them.”

Considering the current state of the market, John added: “The BTL market is growing and evolving rapidly, and as specialists in this area we will continue to work closely with our broker partners to identify trends and develop products which will meet their clients’ needs.”