expat landlord mortgages

Expat Landlords

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Expat landlords will be confident.

It has been an extremely hard year for landlords up and down the UK and those living abroad.

The good news is that, despite all the recent changes rewards for landlords can still be exceptionally good.

Demand for good quality rental property continues to rise year on year due to prospective first-time buyers not being able to get onto the so called “property ladder”.

Rents are at an all-time high and will rise later this year if the experts are correct.

Expat landlords remain confident that the future is good, and they have every right to do so as property in the UK continues to increase in value consistently.

Last year alone the property owners in the UK saw their investment rise between 3-6% and you simply cannot earn this if your money is invested in a high street bank.

Expats re-mortgaging to secure the future.

Expat re-mortgaging levels have soared to an eight-year high in July as borrowers take advantage of lower monthly repayments the latest figures have revealed.

The value of re-mortgaging fell due to a drop in the average loan size, but with overall mortgage activity down it still accounted for two-fifths of total lending in July this year.

Expats who have not reviewed their current mortgage deal recently would be well advised to do so as rates are expected to rise in the future.

Help required?

If you would like to review your current mortgage, please do make contact and one of our fully experienced independent advisers will be happy to assist.

 

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Expat Landlord Remortgage

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Expat landlord, be sure to check your mortgage deal before it’s too late!

The latest data and analysis highlighted failing to switch mortgage and lapsing onto their lender’s Standard Variable Rate (SVR) has seen the average landlord hit with £2600 a year in extra interest.

According to the study, which looked at 16 major UK lenders, analysed the jump in interest charges from each provider’s best two-year fixed rate deal to their associated SVR, which a borrower is typically transferred to once their introductory period comes to an end.

As of October this year, the average landlord slipping onto their lenders’ SVR after the initial two-year fix faced an extra £2,664 a year in interest payments, equating to £212 a month.

Across the UK there are far too many expat borrowers currently on an SVR, who could collectively save £5.3 billion a year by switching!

One reason why an expat borrower may lapse onto an SVR is simply that they weren’t aware that it was time to switch until it was too late.

A mortgage for a expat landlord is likely to be the most expensive monthly commitment and therefore vitally important to be cost effective.

If you are confused with the mortgage plan you have do get independent advice as soon as possible, failure to do so could be costing you thousands.

Help required?

If you would like to discuss your current mortgage or require a new or re-mortgage, please do make contact and one of our qualified independent advisers will be happy to assist.

 

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UK Property Growth

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UK Property Growth. Experts believe UK property values will rise between 3% & 6% across the UK next year according to figures released by one of the major high street mortgage lenders.

If these figures are achieved it will reverse the current decline of this year, the report also states increases in values could be stifled by the possibility of further cost of living increases.

As an expat with property in the UK if you compare this annual growth to what could be achieve from an investment in any high street bank, property looks a very good bet indeed.

Interestingly the report states they expect growth to slow slightly more in the London area than elsewhere. It is likely properties in the North of the country will see the largest growth due to their current affordability.

Property is still in short supply.

 There has been and still is a shortage of supply which constrains activity in the housing market and levels of house building remain lower than years gone by.

It is believed due to the shortage of property available that house prices will remain stable for the foreseeable future which spells good news for expats with property in the UK.

 Need some help?

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

 

 

 

 

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Expat Property Portfolio

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Expat Property Portfolio. Buy to let market is growing fast again as expats increase holdings.

June 2023 saw the buy to let market rise again, expat applications and completions were up on figures for the same period last year. Investors are without doubt looking to secure new properties.

Figures show existing expat investors are expanding their portfolios especially in the North and Southeast areas. Increased property values don’t seem to be deterring the investor as they see the future sell on value as the key to profitability.

There was also marked increase of new expat investors into the buy to let market.

Top tips on buy to let properties.

  • Choose an area you know for your buy to let investment.
  • Make sure the area has potential for growth in the future.
  • Do the figure work and be sure of the level of rental income you can expect.
  • Think about the type of tenant you are looking for and match the property to fit.
  • Check with an accountant your own tax position before you proceed.
  • Consider protecting your rental income and explore the options.
  • Research mortgage options.

These are just some of the important areas for new expat investors to consider, but most important is to get the right mortgage for your needs.

Too often these day’s clients tend to go for the cheapest without doing crucial research into the features of each plan.

Using an independent broker could be a very shrewd move as they will access to the open market. They will also have the experience to advise you on the correct mortgage to meet your needs.

Can we help?

If you require assistance with your mortgage, please CONTACT US or call one of our experienced independent advisers and we will be pleased to assist.