yacht crew expat mortgages

Expat holiday buy-to-lets are getting more profitable.

 

Expat buy to lets are getting more profitable. The rise in staycationing has created an increase the use of properties as holiday lets. Expats are attracted by the potential returns and keen to diversify their portfolios. Existing expat buy-to-let landlords are expanding their portfolios into holiday let. 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. 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 mutual societies. However, in recent years other lenders, including some specialist expat funders, have joined the fray.

So, not the largest selection in the world but certainly enough to find solutions to fit a variety of expat borrowing circumstances.

Recently, there have been reports in the press of landlords turning their buy-to-let property into holiday accommodation.

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).

As such, the majority of products do not cater for holiday accommodation. As such expat borrowers risk breaking the terms of the mortgage contract if they let the property out on a short-term basis.

This should not deter expat borrowers, as holiday let terms can actually be far more favourable.

Like to know more?

 Our experienced independent expat advisers are waiting to help you.

 

yacht crew expat mortgages

Independent Ex Pat Mortgage Broker

Independent Ex Pat Mortgage Broker. Expats UK property search increases month on month

The property portal found that searches for UK property by overseas buyers have grown steadily over the last 12 months.

They now account for 8.2% of all activity on the portal in the first three months of this year, compared to just 3.8% three years ago.

It said most expat investors are keen to capitalise on softening prices and a weak pound.

More expats choosing independent broker assistance for mortgages advice.

The number of expat mortgages coming through independent brokers has risen steeply over the last 2 years, this figure now stands at 78% from 64% last year.

There has been a steady increase in mortgages sold by intermediaries to expat buyers and re-mortgagers as the market remains very buoyant indeed.

Why choose an independent ex pat mortgage broker?

First and foremost, for ease and peace of mind.

Full range of mortgage choices

Industry qualified advisers

UK based for easy communication.

Fully automated service

Faster completion

Assistance required?

If you would like help with your new or re-mortgage, please make contact and one of our independent advisers will be happy to help.

 

yacht crew expat mortgages

Application Numbers Rising

Expat buy-to-let, and Holiday let mortgage applications rising all the time

Expat successful mortgage applications are up from 2022 by 16.7%.

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 2023.

The average number of expat enquiries has also risen dramatically this financial year as expats look to get a foothold on the UK property ladder.

Even with all the uncertainty around the world the UK property market is still seen as one of the most lucrative. The majority of working expats living abroad always want to retain and add to their UK property portfolio as markets in other European Countries simply do not return the same profits.

Rising levels of mortgage enquiries, applications and completions shows that a significant number of expat first-time buyers are still both willing and able to get a foot on the UK property ladder.

UK property values remain stable, and rentals are in great demand!  This is a testimony to the long-term potential growth this market offers.

Even with all the uncertainty in Europe and the UK the market remains resilient and profitable, which is why expats see this area as good financial security.

Mortgages are not as easy to obtain as in the past but there are still good options open to the new investor and expats wanting to re-mortgage.

Can we help?

If you are looking to invest in the UK, please do contact us and one of our qualified independent advisers will be happy to assist.

 

yacht crew expat mortgages

Ltd Co Buy to Let

Are you an Expat thinking of entering the Buy-to-Let market in the UK?

 If you are then you need to proceed with caution

 Firstly, seek advice on your tax position. Incorporation (Creating a limited company) could be right for you.

More and more expat investors are considering entering this market for various reasons. So, what can a buy-to-let investment offer you?

Interest only mortgages.

Good potential returns on capital invested.

Attractive mortgage interest rates.

Potentially better returns than on offer at high street banks.

Better return on capital invested.

Above are just some of the reasons why more and more expats are considering a buy-to-let investment. If you are thinking of entering this market, you should always seek advice on the types of mortgages available that best suit your needs.

You will generally need a deposit of at least 25% this varies from lender to lender but the bigger the deposit the better the deal and lower interest rates.

Mortgage assistance?

If you are contemplating entering this market or require assistance with a re-mortgage, please do contact us. We have experienced independent advisers who will find the correct deal for you.

 

yacht crew expat mortgages

Buy-to-Let for Expats

Expats are actively looking for UK property to rent out.

Expats are actively looking for buy-to-let and holiday let properties as demand grows.

Overseas buyers and expats are sizing up the UK property market for potential bargains, taking advantage of the weak pound, according to the latest figures released.

The property portal found that searches for UK property by overseas buyers have grown steadily this year. They now account for 6.2% of all activity on the portal in the first three months of this year, compared to just 3.6% three years ago, an increase of 72%.

It said some investors are keen to capitalise on softening prices and a weak pound and are looking for discounts. This could fuel demand for UK property, alongside expats planning a return to the UK amid uncertainty.

Popular areas

London is in strong demand as the third most sought-after location, but the UK’s regional cities could benefit the most from interest from overseas buyers, with Glasgow and Birmingham the most popular search locations, followed by Manchester and Leicester.

Who is looking?

US house hunters are watching the market most closely, accounting for nearly 50,000 searches in the third quarter of this year, as shown by the list below of the top 3 countries where buyers are searching from: USA, Hong Kong & Ireland.

Owning property in the UK is a goal of many overseas property investors including expats, it’s clear a rise in the proportion of searches for UK property which are taking place overseas since June 2018.

Can we assist you?

If you are looking for a new or re-mortgage do get in contact and one of our qualified independent advisers will be happy to help.

 

yacht crew expat mortgages

Expat Buy-to-Let Mortgages

Expat buy-to-let investors on the increase yet again,

This is still a growth area for expat investors as more people see the buy-to-let market as a sound option for the future. Traditional forms of investment such as banks and building societies are still producing poor returns so investors are looking elsewhere.

The house rental market in the UK is very buoyant as people trying to get onto the property ladder find it more difficult due to rising house prices.

The demand for good rental property has increased over the last 12 months and would seem to be continuing.

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

Expat buy-to-let investors. 

  1. Select the type of tenant you are targeting this could be a young couple or single person in a professional career.
  2. Make sure when selecting a property for buy-to-let it is in an area which fits your target tenant. Is it close to schools, shops, and local businesses for example?
  3. Selecting the correct buy-to-let mortgage to fit your long-term planning. Do you want a fixed rate or a tracker or indeed any other product that is on offer? It is very important to seek professional independent advice when it comes to choosing your mortgage.
  4. Look after your tenants as you don’t want your property empty for long periods of time. Make sure you have a good maintenance company in place to look after any problems that may arise.

Need some help?

Please make contact and one of our expert independent mortgage advisers will be pleased to assist.

 

yacht crew expat mortgages

Ltd Co Borrowing ?

Expats are you contemplating of incorporating your letting business?

If so – Proceed with caution and do get independent advice!

Get sound advice from a group of accountants and brokers alike

Specialists expat buy-to-let brokers and accountants up and down the country are urging expat buy-to-let landlords to tread very carefully and seek appropriate advice before jumping into incorporating their property business into a limited company.

The reduction in mortgage interest tax relief and the introduction of stamp duty are two relatively recent initiatives that have resulted in some landlords reassessing their property businesses and deciding to incorporate.

Lenders are predicting there will continue to be a growing trend towards limited company buy-to-let activity this year. But they warn this may not be the best practice for everybody.

It is understandable that expat buy-to-let landlords want to avoid paying more tax than is necessary, it is essential, as with any investment, that they fully investigate how their personal circumstances apply to buy-to-let taxation.

Many expat landlords are perhaps seeing the headlines and are considering incorporating their property investments, as limited companies are taxed differently to individuals.

Taxation for an expat is a complex issue and landlords should before considering this move seek advice from a tax specialist. This move will ensure that their buy-to-let venture would actually be better off tax-wise, in a limited company.

Help required?

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

 

 

yacht crew expat mortgages

Rental Property In Great Demand.

 

Expats are reaping the rewards.

Tenant demand has risen in 2023 to hit the highest level recorded since 2011, according to recent demand figures.

62% of landlords who reported increasing tenant demand in the first quarter of 2023 is double that of the same period a year ago. And it’s almost four times the level reported in Q1 2020, when only 16% of landlords felt that demand was growing.

Over 700 landlords including expats were asked to assess tenant demand over the previous three months. A ‘significant increase’ was seen by 34% of respondents, with a further 28% reporting slight increases.

London calling

Increasing tenant demand was reported by 84% of expat landlords operating in Central London, a substantial increase on the 12% seen in Q1 2021. This places Central London alongside the Southwest and Wales as the regions seeing the highest levels of increasing tenant demand during the previous three months.

Another record high in the proportion of landlords reporting increasing tenant demand reaffirms the need to increase the supply of homes in the private rented sector.

Taxation

While it is clearly important that landlords are taxed appropriately and the sector is regulated to ensure high standards are maintained, the government must ensure that buy-to-let remains attractive enough to expat investors who are vital in supplying the properties needed to meet demand.

Can we assist you?

If you are looking for a new or re-mortgage do get in contact and one of our qualified independent advisers will be happy to help.

yacht crew expat mortgages

Holiday Buy-to-Let Mortgage

Expat holiday buy-to-lets are getting more popular and profitable.

The rise in staycationing has fueled an increase the use of properties as holiday lets. Attracted by the potential returns and keen to diversify their portfolios, existing expat buy-to-let landlords are expanding their portfolios into holiday let, as are would-be investors who dream of owning a holiday cottage that will pay for itself.

As a result, intermediaries 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 but like all niche products, they do require a certain level of understanding.

The number of lenders in the market is relatively small, although this is changing. However, in recent years other lenders, including some specialist funders, have joined the fray.

So, not the largest selection in the world but certainly enough to find solutions to fit a variety of borrowing circumstances. It’s worth noting, that not all sourcing tools list holiday let mortgages in depth so if you are an expat and interested it would be wise to contact an independent broker.

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).

As such, the majority of buy-to-let products do not cater for holiday accommodation and borrowers risk breaking the terms of the mortgage contract if they let the property out on a short-term basis.

This should not deter borrowers, however, as holiday let terms can actually be favourable.

Need some assistance?

As an Expat and you are looking for your first mortgage or contemplating a re-mortgage, please do call one of our fully qualified independent advisers who will be happy to help.

 

yacht crew expat mortgages

Any Property Bargains ?

The UK bargain property market is diminishing rapidly.

Expats searching for a property in the UK are finding it more difficult than ever before.

Finding a property of value in the South is almost impossible and in the North things are not a lot easier.

Expat yacht crews are employing the services of local estate agents to help identify possible targets as the market get tougher by the day.

Britain’s housing shortage is reaching crisis point as the number of buyers dramatically outweighs the number of properties for sale. Estate agents up and down the Country are reporting high levels of business with sales completing in record time.

One agent in Norfolk said, “If a property comes onto the market in good condition and is priced correctly it will sell within days”. “Just lately we have had up to 6 purchasers chasing just one property”.

The consequences of this situation are driving house prices upwards all the time with properties in the South and East Anglia reaching record highs.

Expat yacht crews searching for a foothold in the UK property market need to act sooner rather than later. Experts are forecasting the shortages to get much worse before things get any better.

One plus point for the expat is that mortgages are easier to secure than a few years ago and choices have expanded.  There is a good selection of mortgage deals available at very favourable interest rates.

Need some assistance?

As an Expat yacht crew and you are looking for your first mortgage or contemplating a re-mortgage, please do call one of our fully qualified independent advisers who will be happy to help.