This year has been the year to break numerous records and now we have seen expat mortgage approvals reach new heights.
Records show expat mortgage approvals are 36.7% higher than this time last year. It is no surprise to us as enquiries have been on the rise since the Brexit vote was announced. Property in the UK is still without any doubt a very good long-term investment unlike property in most of the Euro zone.
Buy-to-let mortgage approvals are showing the greatest increase and account for 41% of the total expat business. Buy-to-let business this year has been very buoyant as more expats look to secure property and at the same time earn extra income.
With a potential interest rate rise on the horizon re-mortgages are now becoming very active as clients look to secure a longer-term fixed deal.
If you are an expat and have not reviewed your current mortgage it would seem a very good time to do so as this could save you a great deal of money on your monthly budget.
Buy to let expat mortgages
UK and expat landlords are reaping rewards from lower mortgage charges and longer fixed rate deals. If you have an existing expat buy-to-let mortgage it may be a very good time to review its status.
We are hearing of a potential rate rise which could seriously hit profitability of your rental income. Remember it is not always best advice to change your mortgage mid-term so seek help from a professional adviser to see if this could be best advice for you.
Need some assistance?
If we can help with your new mortgage please call one of our fully experienced advisers we are here to help!