Mortgage For UK Expats

Expats are using auctions to expand portfolios.

Due to the shortage of property perspective expat buyers seem to be turning to the Auction houses. Recent reports show residential property sales are increasing at a rapid rate.

This increase could well be due to the buy-to-let market booming at present. Getting a mortgage for UK Expats has never been easier. As such existing expat landlords are increasing their portfolios as demand grows for good rental properties nationwide.

Are bargains to be had at auction?

The very simple answer is yes!

Auctions are a great way to add to a buy-to-let portfolio, with a wide range of bargains often going under the hammer. But as any shrewd expat buy-to-let landlord will know, there is more to buying property than simply turning up and making a bid.

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

If you choose this route to buy, then be prepared!

But before attending and bidding on property at auction, investors must conduct all necessary due diligence. Two vital things to understand.

• 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?

Mortgage advice?

If you need assistance with a new or re-mortgage, then please contact our expert independent advisers who are waiting to help.

 

Expat buy-to-let.

The Expat mortgage market is stable and thriving.

The expat buy-to-let mortgage sector has been more resilient than the residential mortgage one during the past six months.

Despite initially pulling deals from the market, mortgage choice has been on a broadly upward trend since July 2023, while the small fall in average rates suggests the market remains competitive and lenders are keen to do business.

Limited company expat buy-to-let mortgages.

As this area of expat buy-to-lets mortgages grow so has the choices to the borrower. Mortgage providers have not been slow to increase the number of fixed and tracker deals. Also, the charges and interest rates have reduced as popularity has increased which goes to prove lenders are in fierce competition to secure new expat business.

Buy-to-let limited company mortgages.

The majority of the expat buy to let purchase transactions made through limited companies last year were related to additional property acquisitions, although the figures also include expats selling property they already own personally into a corporate structure.

All transfers of properties from individuals to limited companies must be treated as a new purchase, and therefore do not qualify as a re-mortgage.

Confidence in brokers increases at a fast rate!

Expat landlords will know only too well how difficult it is selecting the correct mortgage deal due to the complexity of an expat mortgage. The last 3 years has seen a massive shift towards expats using a professional independent broker to secure the correct mortgage for their needs. This trend is continuing into 202’ with broker related deals increasing year on year by 34.6%.

Can we help?

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