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Expat borrowing rising again

Gross mortgage borrowing in the expat sector is 22% higher overall than 12 months ago recent figures show. The number of mortgage applications for November and December combined also saw the highest numbers for the last 8 years.

The really good news for the borrower is that application approvals reached a record high in 2018 and look set to continue way into 2019.

Re-mortgaging numbers in particular have been rising month on month and continue to do so. Homeowners have recognised that interest rates are due to increase in 2019 and have taken advantage of the very good fixed rate deals that are available now.

The Brexit uncertainty is adding to this situation as expats look for longer term security.


If you are one of the thousands of expats who have not re-mortgaged, and you are still on a standard deal now is the time to review your circumstances. If the predictions are correct interest rates likely to rise in the next month or two with further rises on the horizon.

Good news is there are still some very good fixed and discount deals on offer, but it’s likely they won’t be around for much longer.

Can we assist?

If you require some help with your current or new mortgage please do call one of our fully qualified advisers.

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Expats are still suffering poor investment returns

Expats are still suffering poor investment returnsExpats living overseas are still suffering low returns on their short and longer-term bank-based cash investments.

What does the future hold for UK expats?

A recent survey of expats showed they are turning to alternative forms of investment to increase returns. The most popular being property purchase for renting which of late has been hit by the Governments tax changes.

These changes do not seem to of deterred expats as buy-to-let mortgages rose significantly in the last financial quarter of 2018.

It is becoming far easier to secure a buy-to-let mortgage for an expat than it was 2 or 3 years ago. Restrictions and regulations have been relaxed a great deal plus more providers now see this type of business as highly profitable.

Brexit of course is on every expats mind as nobody really knows what will happen, if anything. This situation seems to have stirred more expats than ever before to try and secure a property in the UK, so it’s little surprise mortgage applications are hitting new heights.

As an expat if you are looking to increase your income in the near future this may well be a very good time to look at all the alternatives. Mortgage interest rates remain stable and affordable on both fixed and tracker deals at present so you could be making a good move in the right direction.

It is generally seen that the UK property market will remain strong for the foreseeable future even amid all the Brexit uncertainty.

Need assistance?

If you require any help or assistance with a new or existing mortgage please do call one of our advisers. We pride ourselves on attention to detail and speed of service. We look forward to hearing from you.

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Expats should check their current mortgage deal

The financial incentive for expat mortgage borrowers reaching the end of their current fixed rate deal to re-mortgage to a new deal has soared to an 11-year high.

According to the latest Moneyfacts, borrowers could save more than £3,000 a year by opting for a new fixed rate mortgage rather than sitting on their existing lenders standard variable rate (SVR).

The main reason for this is that expat borrowers who took out a two-year fixed rate mortgage two years ago have been enjoying some of the lowest rates ever seen. Indeed, in January 2017, the average expat two-year fixed rate mortgage came with a rate of 3.85%.

Now, however, those borrowers who took advantage of these highly competitive mortgages two years previously will be moving onto an SVR unless they choose to re-mortgage elsewhere.

In terms of repayment amounts, the typical expat borrower with a £200,000 repayment mortgage over a term of 25 years could therefore expect to see their monthly payments rise by £300 a month – or £3600 a year – if they remain on their current lender’s SVR.

However, by choosing to re-mortgage to a new short-term fixed rate deal – the typical repayment would be £250 a month (or £3000 a year) cheaper than if they did not re-mortgage.

Want to check your deal out?

If you would like to review your current deal please do make contact and one of our qualified advisers will be happy to help.