yacht crew expat mortgages

Expat Buy-to-Let v Holiday Let ?

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The average holiday let generated annual rental income in excess of £25,000 in 2024, more than double the average of £12,130 for residential properties, according to recent figures!!

The average holiday let property generates a whopping £1340 a week, almost FIVE times the average weekly rent in the UK.

There are now over 170,000 holiday let properties in the UK, with the average income per booking up 5% in the last quarter of 2024.

Holiday hotspots

The areas in the UK where holiday let rental growth was fastest in the last four months of 2024 were:

South of England (+17.3%)

Cornwall (+14.5%)

Devon (+8.9%)

Cotswolds (7.2%)

The rise in rental income is being boosted by international and domestic visitors looking for short-term stays in popular UK holiday destinations.

Landlords have had just about everything thrown at them of late so only time will tell if we see a shift to holiday lettings in the future.

Expat mortgages.

The range available includes fixed, tracker and standard deals with good, discounted periods. We would always recommend discussing your needs with an expert independent adviser who has all the up-to-date deals available.

This course of action can indeed save you thousands of pounds in the long term. Interest rates remain competitive with some very good longer term fixed deals available.

Can we assist?

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.

 

expats uk property london

Can I Get A Better Expat Mortgage Rate ?

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Can I get a better expat mortgage rate? Expats are advised to check their current mortgage deal!!

Firstly if you are one of the thousands of expats who have not re-mortgaged you may get a better rate. If you are still on a standard variable rate deal now is the time to review your circumstances. If the predictions are correct interest rates are due to rise early in the 2025 with further rises on the horizon.

Re-mortgaging numbers in particular have been rising month on month and continue to do so. So, can I get a better mortgage rate? Quite simply yes. Expats have recognised that interest rates could be due to increase in 2025. Many have already taken advantage of the fixed rate deals that are available.

The wise expat will move to re-mortgage now sooner rather than later.

Good news is there are still some very good fixed and discount deals on offer, but it’s likely they won’t be around for much longer.

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. 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.

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.

Independent brokers

It also emerged the number of expat borrowers using an independent broker to re-mortgage has also hit a record high in 2024 and this year continues in that vein.

Can we help?

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

holiday let mortgages for expats

Investment Property for UK Expats

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Investment property for UK Expats. Average UK house prices have broken through the £300,000 mark for the very first time as the demand continues to grow month on month.

According to the largest estate agent in the UK the overall average house price has risen to a staggering £304,000 in November 2024.

Expats who have owned a property in the UK for the last 14 years have seen growth of almost £100,000 on average. If you compare this to the returns that would have been achieved had the equivalent cash been invested in a high street bank it’s staggering!!

Its little wonder expats are so keen to either get into the investment property market or increase their current holding.

Mortgage applications this month have hit a record all time high with completions following very closely behind.

6 out of 10 regions across the UK achieved record asking price highs.

London           Average            £644,000

Southeast      Average            £399,000

East Anglia    Average             £326,000

Southwest      Average            £292,000

West Mid        Average            £204,000

Northwest      Average            £177,000

Mortgages for expats still offer attractive interest rates; this is helping fuel the surge of applications.

Expat buy-to-let mortgages have also been very active in the last few months due to expats increasing their holdings in the UK.

Need some assistance?

If you require any help with your new or re-mortgage, please do call one of our fully qualified independent advisers.

 

uk property holiday let

Buying UK Property When Living Abroad

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Buying UK Property 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 flat, apartment or house in the UK 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.

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

Best Cities to explore if you are thinking of buying UK Property

Despite a barrage of tax changes, there are still pockets of the market where investing can be very profitable.

A recent report on buy-to-let yields available across major towns and cities in the UK found that Liverpool and Nottingham are now the UK’s best performing property investment locations.

According to the research, both cities enjoy average rental yields of 7.2% once mortgage costs are considered. Liverpool has retained its top position since May 2022, although the city has seen rental yields compress due to falling rental prices.

In third position is Cardiff, with average yields of 6.5% after the average rent paid in the city rose from £946 to £1,301 over the past two years.

Significantly, London and the Southeast are absent from the top 10, as high purchase costs have put a severe dampener on yields. Rents in the capital have also been coming down, as renters appear to have maxed out what they can afford to pay each month.

Can we help?

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