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UK Expat Re-Mortgages

Expat mortgage business growing fast yet again this year

This financial year has seen more new expat mortgage business being conducted than this time last year and applications are still rising as the year progresses.

September and October have seen a record number of re-mortgages as clients look to release equity built up over the years within their properties. The released equity is being used for assorted reasons including expensive debt consolidation.

If you decide to re-mortgage this may an opportune moment to review any expensive loans and credit cards you may have. It is likely the UK property has gained in value giving you a larger equity which could be used to reduce the expensive debt.

Reasons to re-mortgage

  • To save money
  • Raise extra cash for a project you have planned
  • Your current deal is ending soon
  • You want to pay more to clear the loan earlier and the lender will not permit this

Reasons not to re-mortgage

  • You have a penalty on your current mortgage which makes it prohibitive.
  • You have had credit problems since taking out your current mortgage.
  • You currently have an advantageous rate which may be fixed.

If you are considering taking out a mortgage or re-mortgaging, please call us and one of our independent advisers will be happy to assist.

UK property prices increasing

According to the latest figures house prices are on the rise again, September and October saw good growth although not like years gone by but still very encouraging.

So, at present the outlook for 2024/25 is very positive indeed, the signs are this will continue for the foreseeable future.

Can we help?

As expat independent mortgage specialists, we offer a much-valued service to our clients, so please make contact if we can assist you.

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Mortgage Broker for Expats

Mortgage Broker For Expats Using an independent broker is more popular than ever before.

Firstly Expats are now using an independent broker more than ever before to secure their deals whether it be a new or re-mortgage.

A survey showed using a broker will reduce completion times. They are fully versed in the expat mortgage process and able to react to the lender’s requirements much quicker.

Why choose an Independent Mortgage Broker?

Very simple you will have a much bigger choice of deals. An independent mortgage broker is not tied to any one company.

2024 has seen a large increase of approved mortgage applications compared to the same period last year. These increases show how restrictions are being eased by lenders as they compete for every single bit of business.

All this positive news is giving the borrower confidence in the longer term.

Expat buy-to-let investors on the increase in 2024.

This is still a growth area for investors. More expats see the buy-to-let market as a sound option for the future, especially with property prices reducing nationwide.

The demand for good rental property has increased over the last 12 months due to the cost-of-living crisis and other factors.

Experts expected the buy-to-let market to decrease, and it did after all the new regulations were announced but that trend has now been completely reversed.

Like to talk over your needs?

If you are an expat looking for a new or re-mortgage, please do make contact. One of our qualified independent advisers will be happy to help.

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holiday let mortgages for expats

Holiday Let Mortgage for UK Expat

Holiday Let Mortgage Expat holiday buy-to-lets are becoming very popular

The rise in buy-to-lets being converted to holiday lets has fuelled an increase in mortgage enquiries. Mainly from expats. Expats are attracted by the potential returns and keen to diversify their portfolios. As such existing expat buy-to-let landlords are expanding their portfolios into holiday lets, as are would-be investors who dream of owning a holiday cottage that will pay for itself.

As a result, lenders have witnessed a rise in mortgages for holiday let mortgages, i.e., loans for properties that will be rented out on a short-term basis, for at least part of the year to tourists – as a business.

These commercial transactions are not difficult to administer. Due to the power of the internet, but like all niche products, they do require a certain level of understanding.

The number of lenders in the expat market is relatively small. Although this is changing. In the past, holiday let mortgages were usually confined to mutuals. However, in recent years other lenders, including some specialist expat funders, have joined the fray.

For the most part, standard buy to let mortgages are designed for use on properties that will be let for a minimum of six months on assured shorthold tenancy agreements (ASTs).

Expat successful mortgage applications are up from 2023 by 14.4%.

It also seems that expat first-time buyers are the ones having the most luck. Over two-thirds of mortgage applications by expat first-time buyers were successful in the first four months of 2024.

Like to know more?

Finally our experienced independent expat advisers are waiting to help you. Contact Us to find out more.

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Mortgage Broker for UK Expat

Mortgage Broker For UK Expat Mortgages is advised. Is using a specialist expat mortgage broker for you?

If so, the mortgage broker for UK Expat will take control of the mortgage process. Therefore relieving you of the stress and paperwork. They will be able to deal with the mortgage company supplying the loan and answer any queries they may have, saving you time and money.

Selecting a mortgage to suit your needs will save money in the long term

Securing an expat mortgage doesn’t have to be difficult, it is always recommended to get expert professional help. Using a specialist expat broker will without doubt give you the edge as they will be experienced in this type of mortgage process.

Expats landlords – What is in store for 2025

With the fresh new year just a couple of months away there is much to consider. Thoughts of course turn to planning for what might be coming over the horizon!

For the expat buy-to-let market there have been some significant ups and downs. Particularly for expat landlord borrowers who have had deals ending in the last few months. Indeed expat landlords are looking at what finance they can secure in the future, from both a purchase and re-mortgage perspective. Getting specialist help will help ease these issues.

Many positives for 2025

The expat investor whether new or existing can be encouraged by the fact good rental property is in high demand in the UK. Mortgage rates now seem to be stable and property values continue to increase. So, all in all there is plenty of reasons to be optimistic your investment is sound and profitable.

Help required?

Finally if you are an expat looking for a new or re-mortgage, please do get in touch. One of our fully qualified independent advisers will be happy to assist.

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