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 £2000 a year in extra interest.

According to the study, which looked at 5 major expat 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 January, this year, the average landlord slipping onto their lenders SVR after the initial two-year fix faced an extra £2,100 a year in interest payments, equating to £175 a month.

A mortgage for an 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.

Expats are using an independent broker more and more.

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 independent?

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

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.

Who needs an expat mortgage?
Britons living abroad, either temporarily or permanently, will need to obtain a mortgage from a lender that has chosen to lend to expats.
Typically, expats are looking to invest in buy-to-let property whilst living overseas, perhaps to provide an income in retirement or even to live in upon their return.
Expat holiday buy-to-lets are getting more profitable.
The rise in stay-cationing has fuelled an increase the use of properties as holiday lets. Expats are attracted by the potential returns and keen to diversify their portfolios, existing expat buy-to-let landlords are expanding their portfolios into holiday let, 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.
Exchange rates
Whilst fluctuating exchange rates can, at times, provide a good opportunity for investors, it is also true to say that many expats earn better salaries abroad than they would do here in the UK. A lower cost of living means they have more disposable income and want to invest in UK property.
Aside from investors enquiries from individuals looking to buy properties for their families to live in – frequently where children are involved, and the preference is for them to be schooled in the UK.
Selecting a mortgage to suit your needs
Securing an expat mortgage doesn’t have to be difficult, it is always recommended to get expert professional help. Using a specialist expat broker will without doubt give you the edge as they will be experienced in this type of mortgage process.
Can we help?
If you are looking for an expat new or re-mortgage, please do make contact and one of our fully qualified independent advisers will be happy to assist.

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.

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.

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.