Expat Re-Mortgages

Expats are releasing equity

Expat mortgage business is very buoyant currently and in particular the re-mortgage area as expats look to released locked capital within their UK properties.

A recent report shows the average amount released currently stands at 46,000 per case as of December last year and the number of re-mortgages rose by 21.3% year to date.

The report shows December 2022 witnessed a very strong month for mortgage lending within the expat community as house buyers rushed through purchases. This high activity is attributed to the weaker pound and expats seeking new investment opportunities.

Our director of operations commented “It would seem expats have re-mortgaged their current UK property to raise funding for further purchases within the buy-to-let market”. “The surprising thing is re-mortgage business has remained very strong at the start of 2023 as well”.

Over the coming week’s speculation about the possibility of rate rises will continue to dominate the news and have an unsettling effect on the markets. However, this should not dissuade people from re-mortgaging if there is a financial benefit to the borrower.

There are many very good re-mortgage deals on offer currently with extremely good interest rates being available. If you are considering a re-mortgage, it may well be prudent to explore what fixed deals are on offer as at some stage interest rates are likely to rise.

Can we help?

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