Best Mortgage Deal For Expat brits ?

Expats are you paying out more than you need to?

Expats with mortgage agreements set to expire, or who are currently on their lender’s default rate, may reduce costs by over £4,500 through switching to a fixed-rate product.

According to a recent report encouraging remortgaging, the research indicates that moving from the lender’s Standard Variable Rate (SVR) could result in savings of more than £4,500 within a year.

If borrowers do not re-mortgage when their initial term ends, they move to the standard variable rate (SVR), which is typically higher. If the Bank of England raises interest rates as some predict, lenders may also increase their SVR. Therefore, expat borrowers whose deals are ending or who have moved to the SVR may consider switching to a new fixed-rate deal.

It is important to note that there is currently a wide range of higher loan deals available, which may make remortgaging a more appealing option.

Time to review your mortgage deal?

Mortgage rates are not expected to decrease in the near future, so some borrowers may consider securing a fixed-rate mortgage deal at this time. Those who are currently on an SVR or approaching the end of their term could reduce their mortgage costs, potentially freeing up funds for other uses, such as home improvements or travel.

Use an independent broker to review your mortgage

The only guaranteed interest rate is the current one available. If you are considering refinancing your mortgage, consulting a mortgage broker may provide access to different deals. It is important to consider any additional charges, early redemption penalties, locked-in interest rates, and future projections.

Brokers offer access to various mortgage options and can use their knowledge to identify deals that may not be readily apparent.

Can we help?

If you are looking for a new or re-mortgage, please do make contact and one of our fully independent advisers will be happy to assist.