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Expat Holiday Let Mortgages are Very Active in 2024.

There’s been a big increase in choice available to expat landlords wanting to enter the holiday let sector this year.

The number of mortgage options for expat borrowers looking at the holiday let market have more than doubled since May 2023.

As the demand for staycations remains evident, it would not be too surprising to see more growth in this market in the months to come. In February 2023 only 2 lenders were offering a buy to let mortgage available to holiday letting, whereas today there are many more options to the expat investor.

At this point in time, its evident expat landlords are taking advantage of the opportunity to earn an income through holiday lets.

This type of letting a UK property is seen as a very profitable option to expats not wanting to let their UK holdings for long periods of time.

Before deciding to enter this market, research is vital!  

Undertaking thorough research into popular locations, weighing up tax benefits, reading up on rules regarding residency periods and other potential expenses outside of utility bills can feel daunting, so seeking advice before entering an arrangement is wise.

The number of holiday let companies set up, chiefly by expat landlords, between January and June this year has increased of 42% versus the whole of 2023.

Need assistance?

 Our professional team of fully qualified independent advisers are used to dealing with all types of expat re-mortgage/mortgage business. Please do call to discuss your requirements and we will be happy to help.

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Expat Mortgage Approvals Increasing Monthly

Expat Mortgage Approvals Increasing Monthly. Expats living abroad are seeing their applications for an Expat mortgage complete faster and far more regularly than 2023.

Approvals for house purchases in the UK by expats increased towards the end of 2023 and 2024 has followed the same pattern according to the latest figures from the Bank of England.

The number of expat loan approvals for purchasing so far this year is up a massive 26.4% on the same period last year. Re-mortgaging saw an astonishing increase of 35% over the same period.

 Expat mortgages completing faster.

 The time it’s taking this year to complete an expat mortgage has reduced significantly in the last 12 months.

The industry is seeing a new application in a straightforward case complete in a matter of weeks rather than months. A straightforward re-mortgage is now on average completing in less the 7 weeks which is significantly quicker than 12 months ago.

Use an independent broker for speed and efficiency of expat mortgage approvals.

The independent broker will take control of the mortgage process, therefore relieving you of the stress and paperwork. They will be able to deal with the mortgage company supplying the loan and answer any queries they may have, saving you time and money.

Help required?

If you are an expat looking for a new or re-mortgage, please do get in touch and one of our fully qualified independent advisers will be happy to assist.

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Expat Mortgage Strategy

Expat Mortgage Strategy for First time expat landlords. A sound strategy should always be in place.

Investing in property whether it’s your first investment or your fifth can give you goose bumps at any time of year.

The UK rental market is currently booming.

The key to any successful investment is ensuring you have a sound expat mortgage strategy. For property, this means a combination of fundamental elements. These theoretically add up to you finding a property that will deliver growth. As well as provide a regular rental income (if this is a goal), allowing you to passively grow your wealth over time.

These elements are good location, connectivity, amenities, infrastructure, and investment and of course tenant demand which, if you get the first four right, should come naturally.

One of the worst nightmares for any landlord is experiencing a long void period. If you committed to your sound strategy, you will have hopefully purchased a good quality property. Always in a high demand area which should help to reduce the risk of a lengthy void period.

Reduce risks to a minimum

In other words, make sure you have contents insurance. Always put your tenant’s deposit into a deposit protection scheme and have a sum set aside to cover maintenance costs.

Always review your expat mortgage strategy

It is also worth carrying out a regular review of your finances to make sure you aren’t paying out more than you need. Especially on your mortgage payments plus you’re taking advantage of any tax relief available to you.

If you plan to pass on your property as inheritance, make sure you have a solid and tax efficient plan for this too.

Need some Expat Mortgage help?

If you require any assistance with your new or existing mortgage, please do call. One of our fully qualified independent advisers who will be happy to help.

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Do I Qualify for an Expat Mortgage ?

Do I Qualify for an Expat mortgage ?

Britons living abroad, either temporarily or permanently, will need to obtain a mortgage from a lender that has chosen to lend to expats.

Typically, expats are looking to invest in buy-to-let property whilst living overseas. Perhaps to provide an income in retirement or even to live in upon their return. 

Whilst fluctuating exchange rates can, at times, provide a good opportunity for investors, it is also true to say that many expats earn better salaries abroad than they would do here in the UK. A lower cost of living means they have more disposable income and want to invest in UK property.

Selecting a mortgage to suit your needs.

Securing an expat mortgage doesn’t have to be difficult, but do I qualify? It is always recommended to get expert independent professional help. Using a specialist expat broker will without doubt give you the edge as they will be experienced in this type of mortgage process.

Many expats try to go it alone and secure their own mortgage. This of course can be done but living abroad whilst applying does present quiet a few challenges. Time difference and communication problems to mention a few!!

Real value for money and long-term security.

The UK property market offers really good value for money. This assumes you own a property or can afford to buy one.

Anybody who has owned a property in a good area of the UK over the last 15 years would have seen their investment grow substantially.

Traditionally the UK property market has always offered good value long term investment potential. There is no reason to believe this will not continue long into the future.

Can we help?

If you are looking for an expat new or re-mortgage, please do make contact . One of our fully qualified independent advisers will be happy to assist.

 

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Expat Mortgage Broker

Expat Mortgage Broker

Seek independent advice and make life easier

Many expat borrowers could be missing out on a better mortgage deal by not speaking to an independent adviser.

Almost 70% of EXPAT borrowers who went straight to a lender haven’t re-mortgaged in the last five years, 74% stayed with their current lender because they felt they had a ‘good deal’.

Without seeking independent Expat mortgage advice, individuals would have missed out on the extra mortgage deals that are only available through a mortgage adviser/broker.

Analysis showed that the mortgage industry still needs to demonstrate the value of independent mortgage advice to expat borrowers.

What does a mortgage broker do for expats?

Essentially, they are there to help expats find the best mortgage deals in the UK. They aim to make that as simple and stress-free as possible, looking at each person’s situation and finding the best product to match their needs.

Survey facts show.

66% who didn’t seek advice when they took out their last mortgage didn’t know mortgage advisers were there to help the borrower, and just over a third (34%) thought an independent mortgage adviser was there to support the lender.

It’s a fact that expat borrowers going through an independent mortgage adviser have access to far more advantageous deals than those going direct to the lender.

Expats who used a mortgage adviser were also in favour of doing so again. Nearly all (98%) said that they found the support of a mortgage adviser ‘valuable’ and a further 95% said they would recommend using an independent mortgage adviser to family or friends.

Can we help?

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

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Lower Rates for Expat Mortgages

Lower Rates For Expat Mortgages.

Fixing the rate cheaper than betting against rate rises?

Fixed rate expat mortgages are now proving to be better value than the tracker type plans. Particularly for lower loan-to-value borrowers are lower rates for expat mortgages. Low loan-to-value mortgages are now proving better value than their tracker equivalents at 2-, 3- and 5-year periods.

Even for fixed rate higher loan-to-value mortgages, the current cost of borrowing is only marginally higher than tracker products. Fixed rate plans are without doubt becoming more popular especially with the investor with multiple properties.

The lowest interest rate mortgages and lowest fees have been reserved for low loan to value ratios.

Note, usually the larger the deposit you have the better the deal, but there are still some very good deals available for expats with smaller deposits.

Due to the range of products available and your current/future plans it is important to get professional independent advice.

Buy-to-let as an investment rising rapidly in 2024

Lenders are expecting more activity in the expat buy-to-let market in 2024.  And beyond as expats want security in UK property.

A recent survey stated 80% of expat lenders expected demand to grow over the coming months. All the early signs this year show they are correct as demand is up 27% on the same period last year.

Expat mortgage providers are keen to point out that there are good deals in the marketplace both fixed and variable rates.

Need assistance with your expat mortgages?

Our professional independent expat advisers are very experienced in dealing with all types of expat buy-to-let mortgages both single and multiple. We have access to a good range of plans and would be happy to discuss your requirements. Contact Us at Expat Mortgages to find out more.

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Mortgage For Student Lets

Mortgage For Student Lets.

More expats are turning to buy-to-let student accommodation

Expat landlords could well be missing out on the blossoming student rental market sector. Expat Landlords may be unaware of the potential returns on offer with a mortgage for student lets.

According to a new report recently released of existing expat landlords over 40% said they were completely unaware of the potential returns this type of letting can produce.

The number of students is rising at a rapid rate and over the next decade, the figure is expected to double. One other very important factor many expat landlords miss is that the UK is becoming a very popular destination for foreign students. As such this again is a very lucrative market.

The 5 main reasons why expats should consider this type of business:

  • High yields: Depending on location between 8%-10% net yield is possible.
  • Managed & Maintained: Plenty of very good local companies with experience in this type of letting.
  • Demand: Rising student levels means there is always a demand for this type of property.
  • Shifting priority: Students have shifted since the rise of tuition fees to private shared letting.
  • Options open: Any landlord interested in this type of business can invest.

The expat mortgage market can be very complex. Therefore you should seek professional advice as to what product best meets your needs. We have a select number of companies offering very favourable rates. As such these are tailored to suit most needs, including buy to let.

Items you will need to apply for an expat mortgage.

  • Deposit available
  • Certified proof of address
  • Certified ID (Passport)
  • Bank statements (Normally 6 months)
  • Wage slips (Normally 6 months)
  • Certified accounts if self-employed.

These requirements vary from lender to lender. The above is just to give you a guide to help speed up the process.

Can we assist you?

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

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UK Property For Expats

UK Property For Expats. As an Expat Investing in UK property, it remains one of the safest options you can make in this day and age. So, it comes as little surprise that the majority of expat landlords remain confident. As such with their investment in property they have no plans to exit the buy-to-let sector.

UK Property Interesting buy-to-let market for 2025 and beyond.

This current year has not been the most dynamic year for the housing market – on the face of it, anyway. Movement has been slow, with things only just starting to pick up now.

House prices have fared better in some regions than in others. With reasonable growth in Wales and East Anglia, for example, and a small reduction in other areas such as the Southeast.

The good news, if respected agents are to be believed, is that we will see a small increase across the board in 2024. With an overall rise of 15-25% expected over the next five years this is a great time for UK Property For Expats.

Meanwhile, average rents are up across all regions, with experts expecting 5-7% annual growth over the next five years.

Demand is still growing for quality rental properties up and down the Country.

Demand for quality rental property continues to grow. As such this year alone it’s grown by 7% against figures issued for last year.

The problem is now that supply of properties has fallen by 13.8% in the same period. On average for every quality property available to rent in a Town/City location 3 people are in competition for the occupancy.

As you can see this is causing great concern for prospective tenants. Also this is across the whole of the UK. Especially in the major Town and City areas.

On top of all these disturbing figures it is expected that the demand for rental properties is likely to increase well into 2025.

Need assistance with your mortgage?

Our professional independent EXPAT advisers are very experienced in dealing with all types of buy-to-let mortgages. For expat landlords with both single and multiple mortgages. Therefore Contact Us as we have access to a range of plans and would be happy to discuss your requirements.

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Renew Your Expat Mortgage

Renew Your Expat Mortgage and read our Expat Mortgage Reviews.

Expats need to get the message that re-mortgaging is where significant savings can be made. Especially with rates as they are now.

If you are an expat on a standard rate mortgage, would you like to save upwards of £1500 per year? These savings are of course dependent on the size of mortgage. As such surely it is worth checking.

Research shows that over 50% of all expat borrowers who move to their lender’s standard variable rate after their initial deal terminates do not re-mortgage or product transfer for 3-5 years. 

Also, the report shows a quarter of re-mortgagors said they find the whole re-mortgage process difficult, with 47% saying they didn’t have time to shop around.

Re Mortgage Warning.

A re-mortgage is not always suitable for everybody as your existing deal may well have penalties attached to change within the discounted period. It is always recommended to seek professional help as to what is best advice to suit your needs.

Expats are using specialised independent brokers for speed and efficiency.

About five million UK nationals live overseas. Therefore many are keen to hold on to a property in the UK, or to invest in a buy-to-let. As for a buy-to-let mortgage options are quite restricted. Also in most cases you will need to get a specialist landlord mortgage.

It is possible to secure a standard residential home loan as an expat. But it is tricky to arrange, lenders will want to see evidence that close family are living in the house. Since most expats work abroad and cannot live in two places, for the majority, a buy-to-let is the more appropriate solution.

It can be a difficult process to secure a mortgage when clients are overseas. Especially with the time difference and tighter lending criteria.

Using a specialist Expat independent mortgage broker will certainly make the process far less stressful and time consuming.

Can we help?

If you are looking to renew your expat mortgage or re-mortgage, please do make contact and one of our independent advisers will be happy to assist.

 

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Buy to Let Mortgages for UK Expats

Buy To Let Mortgages for UK Expats have grown significantly in the last 10 years.

The expat buy-to-let market has grown over the last 10 years, and nothing seems to slow it down. More existing expat landlords and indeed new ones are buying properties to convert to this very lucrative market.

  • Over the last 18 years an investor on selling could see a profit of 800%
  • If that money had been invested in gilts the returns would have been 230%
  • In 2023 4 million house are recorded as rented
  • It is estimated lettings will rise to 7.1 million in the next 10 years.
  • It is estimated by 2028 32% of people under 40 will be renting.

As you can see some very hard-hitting facts and figures and if the estimates are correct now is the time to start thinking expat buy-to-ley for your next investment.

Whichever way you look at it the figures prove people still perceive UK property to be a good sound long term investment. If you study the figures on investment returns property has yielded over the last 18 years, it’s little wonder why.

Bright future for UK property

Expat UK homeowners will be encouraged by the recent predictions various experts have expressed on the housing market. The predicted general outlook for 2025 and beyond is good condition property will boom but who knows how accurate this will be, but the signs are encouraging.

Property will once again be a hot topic in 2024/25 – whether it be a lack of homes being built or annual price inflation. This is sure to fuel the letting market as people struggle to find the funds needed for a house purchase.

Need assistance with your expat mortgage?

Our professional expat independent advisers are very experienced in dealing with all types of buy to let mortgages both single and multiple. We have access to a vast range of plans and would be happy to discuss your requirements. Contact Us today to find out more.