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.

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Fixed Rate Deal For UK Expat

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Fixed Rate Deal For UK Expats looking for stability.

Expats with mortgages on UK properties are looking to lock in a longer fixed deal than ever before. Experts believe this situation has been brought about due to the uncertainty and what could happen to the mortgage market in the immediate future.

Popularity of longer-term deals had waned at the start of 2024 with expat borrowers opting to fix their mortgage for two years, according to the latest figures.

In the later part of last year demand for five-year fixed-rate re-mortgages went up 42%, representing half the market.

Lenders are eager to attract longer-term business which has created a competitive landscape for expats. This has ensured five-year average rates have remained relatively flat month-on-month.

Fixed rate deal and Five-year fixed deals tend to be more popular amongst borrowers who are seeking stability. Expats will be opting for these deals to provide some certainty amid the potential economic and political upheavals in the next few years.

After hints of a rate increase earlier in the year, sluggish economic growth discouraged the BoE from raising the base rate rapidly. Yet more than three quarters of borrowers still believe another base rate increase will happen at some point in the next twelve months.

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.

 Can we help?

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

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Independent Mortgage Broker for UK Expat

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Independent Mortgage Broker. Always use an independent broker for ease and efficiency.

Firstly Expats are now using an independent broker more than ever before, whether it be a new or re-mortgage. A recent independent survey showed using a broker will reduce completion times, also specialist brokers are fully versed in the expat mortgage process and able to react to the lender’s requirements much quicker.

2024 has seen a large increase of approved mortgage applications compared to the same period last year. These increases show how restrictions are being eased by lenders as they compete for every single bit of business.

Expat mortgages are now quicker to complete.

The time it takes to complete a new or re-mortgage for expat’s has reduced significantly in the last 2 years.

The industry is seeing a new application in a straightforward case complete in a matter of weeks rather than months. A straightforward re-mortgage is now on average completing in less the 6 weeks which is significantly quicker than this time last year.

A survey of expats applying for a mortgage was taken recently. This clearly showed one of the most important factors in the mortgage process was the speed of advancement. As such a close second was ease of application!

Good news is the lenders have taken notice of the findings and have reacted well by speeding up the process considerably.

Like to know more?

If you require help with your new or re-mortgage, please do contact.  Finally ss an independent mortgage broker one of our fully qualified independent advisers who will be happy to assist.

 

expat mortgage approvals holiday let mortgages

Expat Buy-to-let or Holiday-let?

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Expat Buy-to-let or Holiday Let?– better for you?

Firstly To qualify as a furnished holiday-let for tax purposes, HMRC has certain terms you must meet.

  • Your expat buy-to-let must be available for let at least 210 days a year and let out for at least 105 days a year. 
  •  Each individual furnished holiday-let property must be short term – no longer than 31 days at a time.
  • Any continuous stay of longer than that period is not counted towards the 105 days in a year.
  •  Lettings to friends or relatives at zero or reduced rates will not be counted either.

The main tax advantages of holiday lets, compared to buy-to-let properties is that you can still deduct mortgage interest. These payments from rental income reduce your profits and therefore your tax bill.

You also get to stay in the home outside that period of 210 days when it must be available to the public.

A buy-to-let mortgage is designed for long-term lettings – not for you to live in that property.

 Mortgages for this type of project are available to expats. It is recommended to consult an independent professional adviser as they will have access to the full range available.

Need assistance?

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

 

uk property investment when living abroad

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.

 Buy-to-Let market continues to grow!

 More and more expat investors are considering entering this market for various reasons. What can a buy-to-let investment offer you for buying UK property when living abroad?

Interest only mortgages

Good potential returns on capital invested.

Tax efficiency

Attractive mortgage interest rates

Potentially better returns than on offer at high street banks

Nearly half of 25 to 34-year-olds live in the private rented sector (48%), almost double the percentage in 2006 (24%).

There has also been a considerable increase in the proportion of 35-44-year-olds in the private rented sector over the past decade, rising from 11% to 29%.

Expat buy-to-let mortgages play a vital role in supporting housing supply in the private rented sector, with the market representing nearly 15% of new UK mortgage lending.

 Can we help?

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

 

remortgages expat buy to let london property

Best Expat Remortgage Rates

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Best Expat remortgage rates

If you are one of the thousands of expats who have not re-mortgaged, and 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. Expats have recognised that interest rates could be due to increase in 2025. Many have already taken advantage of the exceptionally good 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. However it’s likely they won’t be around for much longer.

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.

 2024 has seen increases activity in best Expat remortgage rates.

 Expat mortgage applications are currently at an all-time high and the outlook for 2025 remains positive.

According to recently released figures the UK property market has been the best performing in the whole of Western Europe. It is therefore not surprising that so many people want to invest in an ever-shrinking market.

Can we help?

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

remortgages for expats uk property expat mortgage

UK Expat Re-Mortgages

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UK Expat Re-Mortgages business growing fast yet again this year.

This financial year has seen more new expat mortgage business being conducted than this time last year. New applications are still rising as the year progresses.

September and October have seen a record number of re-mortgages. Clients look to release equity built up over the years within their properties. The released equity is being used for assorted reasons including expensive debt consolidation.

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.

If you are considering taking out a mortgage or re-mortgaging, please call us and one of our independent advisers will be happy to assist.

UK property prices increasing

According to the latest figures house prices are on the rise again, September and October saw good growth although not like years gone by but still very encouraging.

So, at present the outlook for 2024/25 is very positive indeed, the signs are this will continue for the foreseeable future.

Can we help?

Finally as expat independent mortgage specialists, we offer a much-valued service to our clients.  As such please make contact if we can assist you.

expats uk property london

Mortgage Broker for Expats

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Mortgage Broker For Expats Using an independent broker is more popular than ever before.

Firstly Expats are now using an independent broker more than ever before to secure their deals whether it be a new or re-mortgage.

A survey showed using a broker will reduce completion times. They are fully versed in the expat mortgage process and able to react to the lender’s requirements much quicker.

Why choose an Independent Mortgage Broker?

Very simple you will have a much bigger choice of deals. An independent mortgage broker is not tied to any one company.

2024 has seen a large increase of approved mortgage applications compared to the same period last year. These increases show how restrictions are being eased by lenders as they compete for every single bit of business.

All this positive news is giving the borrower confidence in the longer term.

Expat buy-to-let investors on the increase in 2024.

This is still a growth area for investors. More expats see the buy-to-let market as a sound option for the future, especially with property prices reducing nationwide.

The demand for good rental property has increased over the last 12 months due to the cost-of-living crisis and other factors.

Experts expected the buy-to-let market to decrease, and it did after all the new regulations were announced but that trend has now been completely reversed.

Like to talk over your needs?

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

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holiday let mortgages for expats

Holiday Let Mortgage for UK Expat

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Holiday Let Mortgage Expat holiday buy-to-lets are becoming very popular

The rise in buy-to-lets being converted to holiday lets has fuelled an increase in mortgage enquiries. Mainly from expats. Expats are attracted by the potential returns and keen to diversify their portfolios. As such existing expat buy-to-let landlords are expanding their portfolios into holiday lets, as are would-be investors who dream of owning a holiday cottage that will pay for itself.

As a result, lenders have witnessed a rise in mortgages for holiday let mortgages, i.e., loans for properties that will be rented out on a short-term basis, for at least part of the year to tourists – as a business.

These commercial transactions are not difficult to administer. Due to the power of the internet, but like all niche products, they do require a certain level of understanding.

The number of lenders in the expat market is relatively small. Although this is changing. In the past, holiday let mortgages were usually confined to mutuals. However, in recent years other lenders, including some specialist expat funders, have joined the fray.

For the most part, standard buy to let mortgages are designed for use on properties that will be let for a minimum of six months on assured shorthold tenancy agreements (ASTs).

Expat successful mortgage applications are up from 2023 by 14.4%.

It also seems that expat first-time buyers are the ones having the most luck. Over two-thirds of mortgage applications by expat first-time buyers were successful in the first four months of 2024.

Like to know more?

Finally our experienced independent expat advisers are waiting to help you. Contact Us to find out more.

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