Rising levels of mortgage enquiries, applications and completions show that a significant number of expat first-time buyers are still both willing and able to get a foot on the UK property ladder.
The industry feels this surge of interest is partly down to the Brexit situation, expats are very keen to acquire property in the UK due to the ongoing uncertainty. The other main factor is the poor returns received when investing in property in other European countries.
UK property values remain stable which 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.
It 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 six months of 2018. 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.
Mortgages are not as easy to obtain as in the past but there are still good options open to the new investor and people wanting to re-mortgage.
It is strongly recommended using an independent broker as the application process can be somewhat stressful. An independent broker will have access to all products available and will advise accordingly.
Can we help?
If you are looking to invest in the UK please do contact us and one of our qualified advisers will be happy to assist.