Can a UK Expat Get A 90% Mortgage ?  Expats are very keen on the new 90% loan to value deals!!

The average number of expat enquiries has risen dramatically this financial year. So Can a UK Expat Get A 90% Mortgage?  As expats look to get a foothold on the UK property ladder especially now the higher loans to value are available.

Even with all the uncertainty around the world the UK property market is still seen as one of the most lucrative. The majority of working expats living abroad always want to retain and add to their UK property portfolio. Also as markets in other European Countries simply do not return the same profits.

Rising levels of mortgage enquiries, applications and completions shows that a significant number of expat first-time buyers are still both willing and able to get a foot on the UK property ladder.

UK property values remain stable. Additionally rentals are in great demand!  This is a testimony to the long-term potential growth this market offers.

Even with all the uncertainty in Europe and the UK the market remains resilient and profitable. Which is why expats see this area as good financial security.

Who is looking?

US house hunters are watching the market most closely, accounting for nearly 70,000 searches in the first quarter of this year, as shown by the list below of the top 3 countries where buyers are searching from:

USA, Hong Kong, Ireland and Europe in general

Owning property in the UK is a goal of many overseas property investors including expats, it’s clear a rise in the proportion of searches for UK property which are taking place overseas since June 2020.

Can we help?

Finally if you are looking to invest in the UK, please do contact us. One of our qualified independent advisers will be happy to assist.

Can I Get A UK Mortgage Using Foreign Income? New higher loan to value (LTV) expat mortgages will assist many more investors.

 In years past an expat wanting a mortgage to buy a property in the UK had to come up with a large deposit. Well, good news that is changing!

Just released, there are now up to 90% LTV mortgages available at advantageous rates. So, unlike the past expats have a lot more choices available which can only be good news.

These deals are open to expats abroad with proven salaries in the following currencies.

Sterling, Euro, Swiss Franc, Norwegian Krone, US Dollar, Canadian Dollar, Singapore Dollar, Hong Kong Dollar, UAE Dirham, Kuwaiti Dinar, Qatari Riyal, Australian Dollar, New Zealand Dollar, Danish Krone, Swedish Krona, Saudi Riyal.

The expat mortgage market is very complex

It is recommended you should seek professional independent 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
• 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.

Need assistance?

If you require help with your current or new mortgage, please do contact. One of our experienced independent advisers who will be happy to assist.

Expat Buy to Let Mortgages. Is the buy-to-let market for expats shrinking?

Firstly the very simple and easy answer is NO. You only need to type ‘buy-to-let’ and see that one of the first news articles online is questioning whether the market is ‘dead.’

‘Decline’, ‘is it worth it?’ or ‘doom and gloom’ are other phrases that probably spring to mind. While there’s no denying buy-to-let (BTL) has had its fair share of bumps, it isn’t doing as badly as people think.

Expats are very active in the UK market. Both new and existing owners are purchasing without hesitation. This as the rental market is in great demand.

Last week, UK Finance figures showed that, apart from one anomaly in January this year, expat BTL purchases had risen every month for the past seven months.

In February this year, expat BTL activity was up by 23% compared to February last year.

Horror stories have been completely oversold.

While many sensational headlines have implied a significant drop, in reality, since 2020, gross expat BTL mortgage lending has increased!

Looking underneath gross total lending, there’s no denying there’s been a decline in standard purchase activity. Which is what most headlines focus on.

However, with change comes opportunity. More experienced and professional landlords have stayed and upped their game, looking to expand their portfolios.

For example, we have seen a significant increase in limited company landlords and HMOs, as they search for higher yields and good growth at higher LTVs.

Help?

Finally if you would like to know more about a new or re-mortgage, please do make contact. One of our independent advisers will be happy to assist.