Expats should review their mortgage deal

Now more than ever expats are looking for ways to reduce their monthly outgoings, one of the biggest expenses most people have every month is the mortgage payment.  As an expat there is a lot of uncertainty at the moment with poor exchange rates and the Brexit situation. It may be a very prudent move to review your current mortgage to establish if it is still the best deal for you, and you are not paying more than you need to.

This will not be the case for everybody, your current deal may well be very good, but it is most certainly worth checking as the wrong deal could be costing you thousands extra every year.

Expats have an excellent choice of mortgage deals currently available, so it’s a very good time to check you are not paying more than you need to.

If you decide to re-mortgage this may an opportune moment to review any expensive loans and credit cards you may have. It is likely the UK property has gained in value giving you a larger equity which could be used to reduce the expensive debt.

Reasons to re-mortgage

• To save money.
• Raise extra cash for a project you have planned.
• Your current deal is ending soon
• You want to pay more to clear the loan earlier and the lender will not permit this.

Reasons not to re-mortgage

• You have a penalty on your current mortgage which makes it prohibitive.
• You have had credit problems since taking out your current mortgage.
• You currently have an advantageous rate which may be fixed.

Can we help?

If you would like to review your current expat mortgage do make contact and one of our fully qualified advisers will be happy to assist.