Standard Chartered Bank has received a good response from Asian buyers to its mortgage finance package designed for investing in London residential properties.
The bank said people buying properties for their own occupation or for their investment potential could benefit from the scheme.
There was no differentiation in the rates offered or arrangement fees charged and investors could buy several properties on the same terms.
Jason Neville, sales manager of British mortgages at the bank, said: 'Our scheme is specifically designed to assist purchasers who may have little or no experience of investing in the British property market but who are attracted to the investment potential it offers.' The bank had consider able experience in providing mortgage finance for international investors and it was important to reassure timely progress reports throughout the course of transactions and quality advice.
Mr Neville said Standard Chartered could introduce a specially-selected panel of experts in services ranging from property search to rental management, tax planning to legal advice, to interested buyers and investors of Brit ish properties. 'Together with this team of experts, Standard Chartered aims, as far as possible, to remove the frustration and confusion that traditionally accompanies property acquisition,' he said.
Standard Chartered set up its office specialising in Brit ish mortgages in Hong Kong last June to serve and explore the opportunities in the whole region of Asia.
Carol Lai, also sales manager for the British mortgage division, said the scheme had attracted an encouraging response in Asia, especially after the recent interest rate cuts in London.