Always use an independent broker for ease and efficiency.

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 and it clearly showed one of the most important factors in the mortgage process was the speed of advancement, 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 one of our fully qualified independent advisers who 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.

 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.

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.

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.

Expat Mortgage Needs business hit a high note

Expat mortgage applications are currently at an all-time high and the outlook for next year remains positive. It would seem that the high property prices do not deter the investor. Expats seem to have the attitude that investing in savings accounts are a lost cause and property offers far better returns in the long run.

According to recently released figures the UK property market has been the best performing in the whole of Western Europe for the last 2 years. It is therefore not surprising that so many people want to invest in an ever-shrinking market.

Whatever expat mortgage needs you may have for considering purchasing a house or flat in the UK, the good news is that there are lenders who are more than willing to offer expats mortgages.

The expat mortgage market is very complex, you should seek professional independent advice as to what product best meets your needs. We have a select number of companies offering very favourable rates which are tailored to suit most needs, including buy to let.

Items you will need to apply.

• Contact details
• Property purchase details
• Deposit available
• Certified proof of address
• Certified ID (Passport)
• Bank statements (Normally 6 months)
• Wage slips (Normally 6 months)
• Certified accounts if self-employed.

These requirements vary from lender to lender and the above is just to give you a guide to help speed up the process. Contact us for any assistance you may require.

Need assistance?

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