Expat Landlord Remortgage

Expat landlord, be sure to check your mortgage deal before it’s too late!

The latest data and analysis highlighted failing to switch mortgage and lapsing onto their lender’s Standard Variable Rate (SVR) has seen the average landlord hit with £2600 a year in extra interest.

According to the study, which looked at 16 major UK lenders, analysed the jump in interest charges from each provider’s best two-year fixed rate deal to their associated SVR, which a borrower is typically transferred to once their introductory period comes to an end.

As of October this year, the average landlord slipping onto their lenders’ SVR after the initial two-year fix faced an extra £2,664 a year in interest payments, equating to £212 a month.

Across the UK there are far too many expat borrowers currently on an SVR, who could collectively save £5.3 billion a year by switching!

One reason why an expat borrower may lapse onto an SVR is simply that they weren’t aware that it was time to switch until it was too late.

A mortgage for a expat landlord is likely to be the most expensive monthly commitment and therefore vitally important to be cost effective.

If you are confused with the mortgage plan you have do get independent advice as soon as possible, failure to do so could be costing you thousands.

Help required?

If you would like to discuss your current mortgage or require a new or re-mortgage, please do make contact and one of our qualified independent advisers will be happy to assist.