Expat Mortgage Advice. Expat mortgages continue to increase

This year has seen expat mortgage approvals hit record levels. And with demand for UK property rising. Approvals are up 32% compared to last year. Experts maintain that UK property remains a strong long-term investment.

Surprisingly with all the tax changes involved buy-to-let mortgage approvals are showing the greatest increase.

Buy-to-let business this year has been very buoyant as more expats look to secure property and at the same time increase their income by way of rent.

With a potential interest rate rises on the horizon re-mortgages are now becoming very active as clients look to secure a long-term fixed deal.

It would seem a very good time to review your mortgage if you have one as this could save you a great deal of money in the long term.

Expat mortgages now complete much quicker

 The time it takes to complete a new or re-mortgage for expat’s has reduced significantly in the last 18 months.

The industry now completes straightforward re-mortgages in under 5 weeks on average, much faster than 18 months ago.

A survey of expats applying for a mortgage was taken recently. And this clearly showed one of the most important factors in the mortgage process was the speed of advancement, a close second was ease of application.

Good news is the lenders have taken notice of the findings and have reacted well by speeding up the process considerably.

Need some assistance?

If we can help with your new mortgage, please contact one of our fully experienced independent advisers we are here to help!

 

 

Increase In Expat Mortgage Lending. Expats lending expanding rapidly.

September and October this year saw gross mortgage lending to expats increase by 6.8% from earlier months. In addition to the month-on-month increases lending this year has increased 18.2% overall.

Experts believe these strong figures are down to the instability in the world currently. There is definitely less confidence in the property values of other European countries. Property continues to gain value in the UK at a steady rate and looks like continuing for the foreseeable future unlike the rest of Europe.

Another contributing factor to this sustained growth is the volume of completed re-mortgages. Both expatriates and UK residents are concerned about potential increases in interest rates. These concerns are warranted. Aas numerous long-term fixed-rate products have already been withdrawn from the market. However, some highly competitive options remain available.

UK property offers really good long-term stability and growth.

The UK property market continues to offer good value, especially for those who already own a home or are able to buy one. Over the past decade, anyone with property in desirable areas has likely seen significant growth in their investment.

House prices are expected to stabilise, with steady and dependable growth predicted in the next few years. All of which which is positive news.

In summary, the UK property market has historically been a strong choice for long-term investment, and there’s every reason to expect this trend to continue.

Selecting an Expat mortgage to suit your needs

Securing an expat mortgage doesn’t have to be difficult. As such it is always recommended to get expert independent 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.

Mortgage advice?

If you need assistance with a new or re-mortgage, please contact us. Our expert independent advisers who are waiting to help.