UK Property Growth. Experts believe UK property values will rise between 3% & 6% across the UK next year according to figures released by one of the major high street mortgage lenders.

If these figures are achieved it will reverse the current decline of this year, the report also states increases in values could be stifled by the possibility of further cost of living increases.

As an expat with property in the UK if you compare this annual growth to what could be achieve from an investment in any high street bank, property looks a very good bet indeed.

Interestingly the report states they expect growth to slow slightly more in the London area than elsewhere. It is likely properties in the North of the country will see the largest growth due to their current affordability.

Property is still in short supply.

 There has been and still is a shortage of supply which constrains activity in the housing market and levels of house building remain lower than years gone by.

It is believed due to the shortage of property available that house prices will remain stable for the foreseeable future which spells good news for expats with property in the UK.

 Need some help?

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

Independent Ex Pat Mortgage Broker. 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.

2023 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.

Lenders are still holding interest rates steady as the prospect of the Bank of England raising rates has receded slightly.

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

Expat mortgages are now easier and quicker to complete than ever before.

 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, using a specialist independent ex pat mortgage broker.

Like to know more?

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

Expat buy to lets are getting more profitable. The rise in staycationing has created 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. 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 mutual societies. However, in recent years other lenders, including some specialist expat funders, have joined the fray.

So, not the largest selection in the world but certainly enough to find solutions to fit a variety of expat borrowing circumstances.

Recently, there have been reports in the press of landlords turning their buy-to-let property into holiday accommodation.

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).

As such, the majority of products do not cater for holiday accommodation. As such expat borrowers risk breaking the terms of the mortgage contract if they let the property out on a short-term basis.

This should not deter expat borrowers, as holiday let terms can actually be far more favourable.

Like to know more?

 Our experienced independent expat advisers are waiting to help you.

Expat buy-to-let, and Holiday let mortgage applications rising all the time

Expat successful mortgage applications are up from 2022 by 16.7%.

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 2023.

The average number of expat enquiries has also risen dramatically this financial year as expats look to get a foothold on the UK property ladder.

Even with all the uncertainty around the world the UK property market is still seen as one of the most lucrative. The majority of working expats living abroad always want to retain and add to their UK property portfolio as markets in other European Countries simply do not return the same profits.

Rising levels of mortgage enquiries, applications and completions shows that a significant number of expat first-time buyers are still both willing and able to get a foot on the UK property ladder.

UK property values remain stable, and rentals are in great demand!  This is a testimony to the long-term potential growth this market offers.

Even with all the uncertainty in Europe and the UK the market remains resilient and profitable, which is why expats see this area as good financial security.

Mortgages are not as easy to obtain as in the past but there are still good options open to the new investor and expats wanting to re-mortgage.

Can we help?

If you are looking to invest in the UK, please do contact us and one of our qualified independent advisers will be happy to assist.

Expats are actively looking for UK property to rent out.

Expats are actively looking for buy-to-let and holiday let properties as demand grows.

Overseas buyers and expats are sizing up the UK property market for potential bargains, taking advantage of the weak pound, according to the latest figures released.

The property portal found that searches for UK property by overseas buyers have grown steadily this year. They now account for 6.2% of all activity on the portal in the first three months of this year, compared to just 3.6% three years ago, an increase of 72%.

It said some investors are keen to capitalise on softening prices and a weak pound and are looking for discounts. This could fuel demand for UK property, alongside expats planning a return to the UK amid uncertainty.

Popular areas

London is in strong demand as the third most sought-after location, but the UK’s regional cities could benefit the most from interest from overseas buyers, with Glasgow and Birmingham the most popular search locations, followed by Manchester and Leicester.

Who is looking?

US house hunters are watching the market most closely, accounting for nearly 50,000 searches in the third quarter of this year, as shown by the list below of the top 3 countries where buyers are searching from: USA, Hong Kong & Ireland.

Owning property in the UK is a goal of many overseas property investors including expats, it’s clear a rise in the proportion of searches for UK property which are taking place overseas since June 2018.

Can we assist you?

If you are looking for a new or re-mortgage do get in contact and one of our qualified independent advisers will be happy to help.