Record high expat mortgage applications are showing in figures. Expat first-time buyer activity reached a 2 year high at the end of July this year after soaring more than 40% on the same period in 2023. In July alone the expat mortgage industry saw an increase in applications for new mortgages rise by 38%. These figures go to prove that expat’s still see property in the UK as their number one investment, and it is little wonder when you see the growth the market has shown over the last 10 years.

The UK housing market keeps going from strength to strength. This growth is likely to continue due to the chronic shortage of quality homes for sale. If this continues to be the case in the future property prices will remain high and increase accordingly.

Record High Demand

Estate agents around the country are reporting a high demand for low end quality properties with first-time expat buyers being very active.

The UK property market continues on an upward spiral with record high expat mortgage applications. This offers longer term growth and security. Mortgage lenders are offering good interest rates to attract new business, so if you are contemplating investing now would seem a good time to buy in the UK.

 There is little doubt the attractive mortgage interest rates currently on offer have played a key role in driving these figures.

Expat borrowers have taken advantage of the current rates and used a re-mortgage in particular to their benefit.

Interest rates are certainly in the borrower’s favour at present but there is always a lot of debate of how long these rates will last. All of this in mind it could be a very shrewd move to consider your own mortgage position. It is very commonplace for clients with a mortgage to just leave it as they are not aware of the savings that could be achieved with a re-mortgage.

As an expat do check your current mortgage as you could be paying more than you need to!!

Can we assist you?

If you are looking for help with your new or re-mortgage, please do contact us. One of our fully qualified independent advisers and they will be happy to guide you.

UK Expat Property Investment

UK Expat Property Expats are very keen on the UK market

Estate agents around the country are reporting a high demand for low end quality properties. And first-time expat buyers being very active.

One agent in Manchester said, “We are getting a lot of enquiries from people living abroad (Expats). They want a property at the low end of the market in good condition”.

The UK property market continues on an upward spiral and offers longer term growth and security. Mortgage lenders are still reducing interest rates to attract new business, so if you are contemplating investing now would seem a good time to buy in the UK.

There is little doubt the attractive mortgage interest rates currently on offer have played a key role in driving these figures. Expat borrowers have taken advantage of the current low rates and used a re-mortgage in particular to their benefit.

Expat mortgage brokers are also reporting high levels of business this year with the main interest in buy-to-let and holiday lets.

Independent Mortgage brokers

Not only can brokers offer a far wider range of products and options for consumers which they may otherwise not have access to, or the time to find, but their invaluable expertise will be able to help you secure a great deal on your mortgage.

What a broker will do for you?

The broker will take control of the mortgage process, therefore relieving you of the stress and paperwork. They will be able to deal with the mortgage company supplying the loan and answer any queries they may have, saving you time and money.

Help required?

If you are an expat looking for a new or re-mortgage, please do get in touch. One of our fully qualified independent advisers will be happy to assist.

Expats is it Time To Re-Mortgage?

In order to re-mortgage effectively, it’s important to first establish the purpose of re-mortgaging.

While most UK expat and foreign national investors will re-mortgage to avoid higher rates or to better devise a stable financial plan for their investment. There are also other ways to utilise a UK expat or foreign national mortgage. So expats is it time to re-mortgage?

Some UK expat and foreign national investors might take the opportunity to use their re-mortgage to fund further property purchases and build a larger portfolio.

This will likely be a better strategy for more experienced investors, those who have made strong capital gains or for those who have a lower loan to value, as negotiating a preferential deal will be made easier as they are in a stronger bargaining position.

Get professional Mortgage help, save time and money

It’s a fact that expat borrowers going through an independent mortgage adviser have access to far more advantageous deals than those going direct to the lender.

Expats who benefitted from a mortgage adviser searching the market for the best mortgage deal were more likely to have switched in the last five years (29%), compared to just one in five (19%) of those who went direct.

Expats who used a mortgage adviser were also in favour of doing so again. Nearly all (98%) said that they found the support of a mortgage adviser ‘valuable’ and a further 95% said they would recommend using an independent mortgage adviser to family or friends.

Can we help?

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

Expat Holiday Let Mortgages are very active right now. There’s been a big increase in choice available to expat landlords wanting to enter the holiday rental sector this year.

The number of mortgage options for expat borrowers looking at the rental market have more than doubled since May 2023.

As the demand for staycations remains evident, it would not be too surprising to see more growth in this market in the months to come. In February 2023 only 2 lenders were offering a buy to let mortgage available to holiday letting. Whereas today there are many more options to the expat investor.

At this point in time, its evident expat landlords are taking advantage of the opportunity to earn an income through holiday lets.

This type of letting a UK property is seen as a very profitable option to expats not wanting to let their UK holdings for long periods of time.

Before deciding to enter this market, research is vital!  

Undertaking thorough research into popular locations is of utmost importance.  Also weighing up tax benefits, reading up on rules regarding residency periods and other potential expenses. All of this and the utility bills can feel daunting. Therefore seeking advice before entering an arrangement is wise.

The number of holiday let companies set up has jumped. Chiefly by expat landlords, between January and June this year has increased of 42% versus the whole of 2023.

Need assistance?

Our professional team of fully qualified independent advisers are used to dealing with all types of expat re-mortgage/mortgage business. Please do call to discuss your requirements and we will be happy to help.

Expat Mortgage Strategy for First time expat landlords. A sound strategy should always be in place.

Investing in property whether it’s your first investment or your fifth can give you goose bumps at any time of year.

The UK rental market is currently booming.

The key to any successful investment is ensuring you have a sound expat mortgage strategy. For property, this means a combination of fundamental elements. These theoretically add up to you finding a property that will deliver growth. As well as provide a regular rental income (if this is a goal), allowing you to passively grow your wealth over time.

These elements are good location, connectivity, amenities, infrastructure, and investment and of course tenant demand which, if you get the first four right, should come naturally.

One of the worst nightmares for any landlord is experiencing a long void period. If you committed to your sound strategy, you will have hopefully purchased a good quality property. Always in a high demand area which should help to reduce the risk of a lengthy void period.

Reduce risks to a minimum

In other words, make sure you have contents insurance. Always put your tenant’s deposit into a deposit protection scheme and have a sum set aside to cover maintenance costs.

Always review your expat mortgage strategy

It is also worth carrying out a regular review of your finances to make sure you aren’t paying out more than you need. Especially on your mortgage payments plus you’re taking advantage of any tax relief available to you.

If you plan to pass on your property as inheritance, make sure you have a solid and tax efficient plan for this too.

Need some Expat Mortgage help?

If you require any assistance with your new or existing mortgage, please do call. One of our fully qualified independent advisers who will be happy to help.