contact expat mortgages do i qualify

Do I Qualify for an Expat Mortgage ?

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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

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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

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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

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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.