Thistle Finance and Mercury FX partner to deliver UK expats savings on buy-to-let
Specialist packager, Thistle Finance, today announced it has partnered with global currency specialist, Mercury FX, to deliver UK expats end-to-end savings when purchasing UK buy-to-let property while overseas.
Thistle is seeing increased interest from expats for buy-to-let around the UK. Scotland, in particular, is a major growth area for expat buy-to-let, with Skipton International recently launching north of the border to accommodate rising demand.
Similarly, Aldermore has further widened and improved its lending criteria for UK expats keen to let out Scottish property, many of whom work overseas in the oil and gas industries but are keen to remain on the property ladder in Scotland.
Alongside bank-beating exchange rates, Mercury FX typically saves its clients up to 4% on transaction fees compared to the average high street bank. For an expat transferring the equivalent of £500,000 of foreign currency into GBP to purchase a buy-to-let, that’s a saving of around £20,000.
Mark Dyason, pictured, Managing Director, Thistle Finance, commented:
“Demand for UK expat buy-to-let has gone off the scale, and is particularly strong in Scotland due to the arrival and increased appetite of more lenders with significantly improved criteria and rates. The knock-on effect of this is that a Scottish expat’s chances of securing buy-to-let finance from overseas have effectively been doubled. In partnering with a currency specialist of the calibre of Mercury FX, we’re now able to offer an end-to-end package for expat borrowers, giving them not just the best rates and advice on their buy-to-let mortgage finance but ensuring they save significant amounts of money when getting funds back into the country.”
Alastair Constance, CEO, Mercury FX, added:
“We’re delighted to have brought Rob Gill onboard, with his extensive mortgage experience and network, to forge precisely these kind of partnerships. There are millions of UK expats dotted around the world and a growing number of them want exposure to UK buy-to-let, as both an income generator and hedge against rising house prices. To do so involves transferring often significant sums of money into Sterling but far too many ex-pats continue to transact through the major banks, which charge a considerable premium. In partnering with Thistle Finance we can ensure our clients get access not just to great exchange and transaction rates but the very best loan advice from an expert in this field, whether for buy-to-let or any other form of specialist property finance.”