Expat Landlords

 

Recent figures show that an estimated 220,000 expats own property in the UK and the vast majority let their properties out to achieve extra income.

Expat landlords could be looking at reduced profitability on two fronts, firstly taxation and secondly an interest rate rise which looks likely.

One client of ours we recently spoke to said “as an expat with 3 rental properties I am returning to the UK for a meeting with my accountant to review the new tax laws on buy-to-lets”. “I am also currently reviewing my mortgages with a view to fixing a rate for as long as possible”.

Looking at the immediate future it would seem to be very good advice if you are an expat landlord to review all aspects of your UK property.

In the last 3 weeks we have seen a big increase of enquiries into buy-to-let fixed rate deals. Good news is there are still some very good deals to be had which could assist you protecting your profitability.

Way forward as an Expat Landlord

Firstly, get in touch with an accountant and see what can be done to reduce the effect of the new tax laws coming into force since Brexit. Secondly completely review your current mortgage deal to make absolutely sure the deal you have meets your needs now and the longer term. It may very well be you currently have the correct mortgage, but it won’t do any harm to check it out.

By just completing these two simple tasks you could very well save yourself thousands of pounds over the next few years.

Need some mortgage advice?

If you wish to review your current mortgage please do contact one of our qualitied independent advisers and we will be pleased to help.