london property uk expats

Expat Wanting to Buy a Property in the UK?

Expat Wanting to Buy a Property in the UK?

Who needs an expat mortgage and what are the typical reasons?

Britons living abroad, either temporarily or permanently. Expats 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. As such 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. Often much more 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.

As an expat you will be aware there are not manty other countries in the world that offer such potentially good long term returns on property as the UK does.

Aside from investors, enquiries from individuals looking to buy properties for their families to live in. They are frequently where children are involved, and the preference is for them to be schooled in the UK.

Selecting a mortgage to suit your needs.

Securing an expat mortgage doesn’t have to be difficult. It is always recommended to get expert 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.

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.

uk property expats

Expats UK Property Searches Increase

Expats UK property searches increase month on month.

Brits living in countries where the currency is pegged to the USA’s, such as Hong Kong have been attracted to investing in property back in their home country.

What is happening is investors, including expats, are still buying-to-let in Britain. But perhaps focusing on lower loan-to-values and using larger deposits to take the various changes into account. As well as adapting their portfolios and business models to maintain their profitability. For example, by looking at up-and-coming areas across the UK instead of the more traditional rental hotspots like London.

The property portal found that searches for UK property by overseas buyers have grown steadily over the last 12 months. Expats are actively looking to secure buy-to-lets in the UK as demand and profitability increases.

They now account for 8.2% of all activity on the portal in the last three months of this year, compared to just 3.8% a year ago.

It said most expat investors are keen to capitalise on softening prices and a weaker pound.

More expats are choosing independent broker assistance for mortgages advice.

The number of expat mortgages coming through independent brokers has risen steeply over the last 2 years, this figure now stands at 78% from 64% last year.

There has been a steady increase in mortgages sold by intermediaries to expat buyers and re-mortgagers as the market remains very buoyant indeed.

Assistance required?

If you would like help with your new or re-mortgage, please make contact and one of our independent advisers will be happy to help.

uk property when living abroad

Buying Property in the UK When Living Abroad

Buying Property in the UK when living abroad.

Expat buy-to-let investments will continue to offer attractive rates of return compared to other asset classes, expat investors have increasingly searched out cheaper and higher yielding properties, research has found.

Living abroad and buying a UK flat, apartment or house doesn’t have to be a tedious task, the best way to proceed is to engage an independent expat mortgage adviser as they will have access to all deals available. They also will be local and able to deal with question as they arise.

 As an expat thinking of entering the Buy-to-Let market.

More and more expat investors are considering entering this market for various reasons. What can a buy-to-let investment offer you? Buying property in the UK when livinga broad may be easier to finance than you realise.

Interest only mortgages

Good potential returns on capital invested.

Tax efficiency

Attractive mortgage interest rates

Potentially better returns than on offer at high street banks

Nearly half of 25 to 34-year-olds live in the private rented sector (46%), almost double the percentage in 2006 (24%). There has also been a considerable increase in the proportion of 35-44-year-olds in the private rented sector over the past decade, rising from 11% to 29%.

Expat buy-to-let mortgages play a vital role in supporting housing supply in the private rented sector, with the market representing nearly 13% of new UK mortgage lending.

Can we help?

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

expat mortgages housing

Are Expat Mortgage Rates Reducing ?

Are Expat Mortgage Rates Reducing ?

The UK expat buy-to-let market “may have turned an important corner” with major lenders launching lower rates for expat mortgages.

We are now seeing at least one lender offering UK mortgages for expats at a margin of less than 1.5% over the UK base rate. It is another signal that markets are returning to a new normal, with the UK base rate now expected to remain at a higher level than was the case since the financial crash of 2008/2009.

The inevitable result of higher UK base rates is that lenders are having to trim margins to remain competitive.

House prices have remained solid and seem to be recovering in many parts of the UK despite steeply rising mortgage rates, the supply of homes for sale has been outstripped by demand for property.

The expat mortgage market has grown significantly over the last 10 years and lenders are very keen to secure your business.

With the correct advice and support securing an expat mortgage can be a very simple process.

Getting this support is a vital component in the chain of events, due to the applicant’s location, as it is likely he or she will be living abroad.

Using an Independent broker registered with the FSA in the UK you’ll enjoy a number of advantages compare to “going it alone”.

These include:

  • Choice of deals currently available
  • Choice of lenders
  • Expert advice
  • Fully qualified adviser
  • FSA regulated.

Selecting the correct deal for you can save a large amount of money in the long term.

Help needed??  

If you need expat mortgage advice, please do make contact and one of our independent advisers will be happy to help.

yacht crew expat mortgages

Positive Expat Market

Positive Expat Market. The Expat buy-to-lets remain positive.

 The expat buy-to-let market has remained stable as more people turn to the private rented sector out of both choice and need.

This news is keeping expat landlords on a very positive footing for the long-term future, research shows more young couples will have to rent due to spiralling house prices.

The debate amongst expat landlords goes on but the latest research points very firmly to a stable and well performing market. Despite the uncertainty around the economy the overwhelming message coming out of the private rented sector is positive and encouraging.

Rents continue to increase at a steady pace which has been the story of 2023, and it really looks like continuing into 2024 and beyond.

Many expat landlords in the private sector are seeking advice on how to proceed with all the new tax changes. Again, the news we are hearing is very positive indeed and it seems the Limited company route is favourite to the majority.

Expat buy-to-let limited company.

Half a decade ago, there would have been few in the mortgage market who might have predicted limited company expat buy-to-let as one of the major growth areas in the years ahead.

But that’s exactly what has happened in the expat buy-to-let sector. The market has shifted to accommodate how expat landlords might wish to take their portfolios forward and how they can try and secure the mortgage interest tax relief which has been steadily cut for those holding properties in their own names.

Can we help?

 If you would like assistance with your expat buy-to-let mortgage, please do contact or call one of our expert independent advisers. We have years of experience in this market and look forward to being of assistance to you.

 

mortgage calculator expat mortgages uk homes

Expat Rental Advice

Expat Rental Advice. As an expat and therefore not residing in the UK Investing in property whether it’s your first investment or your fifth can give you goose bumps at any time of year.

Whilst property prices are falling, it can be all too easy to get swept up by recent articles of new property trends amongst renters.

As an expat the key to any successful investment is ensuring you have a sound strategy. For property, this means a combination of fundamental elements that theoretically add up to you finding a property that will deliver growth and 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 an expat landlord is experiencing a long void period. If you committed to your sound strategy, you will have hopefully purchased a good quality property in a high demand area which should help to reduce the risk of a lengthy void period. Another way to help minimise void periods is to keep up to date with the market in that area – in terms of cost and also what you’re offering as a landlord.

Consider the amenities that attract tenants and, importantly what your property could offer to ensure its ripe for the picking when it comes to tenant choice.

Reduce risk as much as possible.

In other words, make sure you have contents insurance, always put your tenant’s deposit into a deposit protection scheme and have a sizeable pot of cash set aside to cover unexpected maintenance costs. Contact Us for all your expat mortgage advice.

expat holiday let mortgages

Expat Buy to Let

Expat Buy To Let. As an expat are you thinking of entering the buy-to-let market in the UK?

With UK property prices easing all the time if you are contemplating entering the market this could well be a profitable time.

Positives:

Property prices are falling.

Potential bigger gains on a later sale.

Experts are predicting property price increases will return in middle to late 2024.

Regular monthly income from rental income.

Increasing waiting list of tenants looking for value in the renting market.

Expats, there are bargains to be had at the auctions!

Auctions are a great way to add to a buy-to-let portfolio or start one. With a wide range of bargains often going under the hammer.

Among the many attractions of buying property at auction is that purchasers avoid the conventional drawn-out process of property buying. As such the property is sold in a matter of minutes as soon as the hammer falls.

Preparation is key.

But before attending and bidding on property at auction, investors must conduct all necessary due diligence. Ask yourself ……

Have you carefully read the conditions printed in the catalogue?

Have you made financial arrangements to ensure you have a 10% deposit ready for payment on auction day? When the contracts are signed and access to the remaining 90% within 28 days?

Need financial help?

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

Expat Wisdom !

Expat Wisdom. The wise expat will use an independent broker!

Borrowers going through an independent mortgage adviser have access to many more mortgages than those going direct to the lender, including specialist mortgages for the self-employed and later life lending solutions such as lifetime mortgages.

Homeowners who benefitted from a mortgage adviser searching the market for the best mortgage deal were more likely to have switched in the last five years (29%), compared to just 19% of those who went direct.

Expat borrowers who used a mortgage adviser were also overwhelmingly in favour of doing so again. 98% said that they found the support of a mortgage adviser ‘valuable’ and a further 95% said they would recommend using a mortgage adviser to family or friends.

Expat mortgages are now quicker to complete.

 The time it takes to complete a new or re-mortgage for expat’s has reduced significantly in the last 2 years.

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 6 weeks which is significantly quicker than this time last year.

A survey of expats applying for a mortgage was taken recently and it clearly showed one of the most important factors in the mortgage process was the speed of advancement, a close second was ease of application.

Good news is the lenders have taken notice of the findings and have reacted well by speeding up the process considerably.

Help required?

If you would like to review your current expat mortgage please do make contact and one of our expert independent advisers will be happy to guide you.

 

expat holiday let mortgages

Holiday Let Mortgages

Holiday Let Mortgages. Weaker pound encourages expats to the holiday let market.
New research reveals that expats and foreign nationals are snapping up UK property, while the pound is weak, and prices remain affordable outside London and the Southeast.
The new figures show that there has been a 23% year on year increase in expats and foreign nationals investing in UK property. These buyers are investing in both buy-to-lets and Holiday lets.
The research also reveals that in 2023, 60% of expats and foreign nationals buying property in the UK, opted for the Manchester area, while 25% choose Birmingham.
However, London has seen a 60% drop in buyers, this is the result of high property prices and poor rental yields, compared with other regions of the UK.
What may surprise many is that in real terms, property prices in the UK have fallen compared with a decade ago and there is a huge North-South divide. In London, the average property value has risen by nearly 70% in 10 years, whereas some other areas have fallen as much as 40% in real terms.
This growth in investors is partly down to the availability of a wider selection of mortgages designed for working expats and foreign nationals.
Investors are also attracted by the UK’s robust legal system for property acquisition, which makes it one of the easiest places in the world to buy property.
Can we help?
If you would like to know more about the range of mortgages available to expats, both new and re-mortgage please do make contact. We have a fully experienced and qualified independent team waiting to assist you.

yacht crew expat mortgages

Stability in Property Investment

Stability in Property Investment. UK property offers stability for the expat investor.
The UK property market without doubt still offers value for money if 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 10 years would have seen their investment grow substantially.
It is expected that house price increases will level out as the year goes on. With a steady and reliable growth rate, again spelling good news all round.
At present the outlook for 2023/4 and beyond is very positive. As such within the UK property market, the signs are this will continue for the foreseeable future.
To sum up – traditionally the UK property market has always offered excellent value. Also long term investment potential and there is no reason to believe this won’t continue.
The expat mortgage market is very complex, and you should seek professional advice as to what product best meets your needs. We have a select number of companies offering very favourable rates which are tailored to suit most needs, including buy to let.
Items you will need to apply.
– Contact details, email, WhatsApp etc
– Property purchase details
– 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 and the above is just to give you a guide to help speed up the process. Contact us for any assistance you may require.
Can we assist you?
If you are looking for a new or re-mortgage do get in contact and one of our qualified independent advisers will be happy to help