Hanley Economic Building Society has announced it is returning to the expat buy-to-let (BTL) market.

The society has reintroduced its 3.49% variable discount product at a maximum 80% LTV.

The product was initially launched in January 2020 but subsequently pulled in April as a result of the COVID-19 crisis. Hanley Economic said the product has an application fee of £299 and a product fee of £500, wile the minimum loan size is £30,000, and the maximum loan size is £500,000.

The move follows Hanley Economic’s recent criteria review across its product range in a bid to simplify its lending policy and criteria for intermediary partners and their clients.

Hanley Economic head of marketing and business development, David Lownds, commented: “We’re pleased to be back in the expat BTL marketplace with what remains a highly competitive product offering.

“Due to the fact that we can accept applications from 35 countries, we expect this to be a popular option for those investors who are realising the investment opportunities currently presenting themselves across the UK housing market.

“Although there remains a lot of uncertainty in the world, we expect the expat BTL market to remain active as we navigate our way through the Brexit period and we hope this reintroduction will help provide some much needed choice in this product area for our intermediary partners and their expat clients.”

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