Weatherbys Private Bank has launched a service for British expatriates offering cross-border private banking and cross-currency mortgages
'Many of the millions of British expats living and working abroad would like to own property in the UK, particularly in preparation for their return,' said Weatherbys deputy head 0f banking Quentin Marshall (pictured).
'For the majority, securing a mortgage is a total nightmare experience as banks have either withdrawn from the market entirely or tightened their lending criteria to unacceptable levels.'
The lending service provides loans between £500,000 and £5 million with a loan-to-value of up to 65%. The bank said that the standard loan facility is interest only with a five year term, extendable to 10 years.
Weatherbys will offer sterling, dollar, euro and other major currency current accounts. Customers will have a dedicated private banker and access to telephone, online and mobile app banking.
In FX it is offering forward contracts and options to assist with hedging currency risk.