Expat mortgage business continues to flourish in 2019, both re-mortgage and new applications have increased as interest rates remain in the borrowers favour.

Expats are very keen to secure and expand their holdings in the UK due to the potential long-term profits that the property market offers. A large number of expats have seen the buy-to-let market as an area of good returns whilst they are living overseas, and this continues to create a lot of interest.

Currently the biggest growth area within the expat mortgage business are fixed rate deals. Since the turn of the year and the latter part of 2018 fixed rate deals have attracted a great deal of interest.

Our advisers are reporting more and more expats are asking about fixing their mortgages as they are concerned that rates may be on the increase sooner rather than later.

Is now a good time to revert to a fixed deal?

Both UK residents and expats may wish to review their current mortgage deal to take advantage of the current low rates on offer. It is very important to remember that to cancel your current deal may not always be the best advice due to exit fees. However, if you are at the end of your current deal or on a standard rate it could be a very good time to consider a fixed deal.

At this present time there is a good range of fixed deals on offer ranging from 2 -10 years. It would be very wise to seek professional advice as to which one may suit your needs as all people have different objectives.

Can we be of assistance?

If you require some help with your mortgage or re-mortgage please do call one of our fully qualified advisers and we will be pleased to help.

It is predicted to be a very turbulent time ahead in the housing market as the Brexit negotiations hopefully conclude. Nobody really knows how this will affect the housing market as so far all the expert predictions about Brexit have been way off the mark.

One thing you should do if you have an expat mortgage is to have it reviewed to ensure you have the best deal available to protect you over the next few years. It may well be very good advice to check out what fixed rate deals are on offer and if they could help you in your planning.

Re-mortgage benefits

There are many reasons you may wish to consider a re-mortgage but be very careful as this is not always the best advice. As an example you may currently have a deal which if changed would incur penalties. There will be other options open to you such as a second charge loan and this should be given careful consideration if you wish to raise cash. Some of the reasons for a re-mortgage are listed below.

1. Secure a better rate of interest.
2. Change to a fixed term deal
3. Raise capital from the equity within the property
4. Reduce expensive debt, credit cards etc

There are many pros and cons to re-mortgaging and all aspects need to be carefully considered to ensure it is beneficial for you. Always seek professional advice from a mortgage adviser who will guide you in the right direction, a wrong move could be very costly in the long term.

Need help?

If you would like to review your current mortgage, please make contact and one of our qualified advisers will be happy to assist.

 

Expats are in ever increasing numbers trying to either get on the ladder or increase their current UK holding. The majority of expats see property in the UK as a “pension fund” or a way of laying financial security for the long-term future.

Bricks and mortar have always been a national obsession. The wisdom that property is fundamentally a very good long-term investment has been passed down from generation to generation.

Expat mortgage applications are currently at an all-time high and the outlook for 2019 remains positive. It would seem that the high property prices do not deter the investor, a recent client commented “with so much uncertainty in Western Europe property the UK offers remarkable value even with the Brexit uncertainty”.

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.

Is it a good time to buy in the UK?

The very quick and simple answer is yes, if you have the funds for a deposit now would seem the right time to buy. The affordable properties that are available to purchase seem to be diminishing on an annual basis, which without doubt will mean higher prices to pay in the future.

Brexit

This is the one only unknown area that could affect the property market, if all the experts are correct it is unlikely to have any lasting long-term damage.

Need assistance?

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

 

 

October’s gross mortgage lending to expats has increased by 4.85% from the previous month, this is the third month on the run. In addition to the month on month increases lending this year has increased 18.67% overall.

Property continues to gain value in the UK albeit at a reduced rate, this looks like continuing for the foreseeable future unlike the rest of Europe which seems to of stagnated.

There are two factors that has contributed to this strong growth, the first being the number of re-mortgages completed and the second is the Brexit situation.

Both expats and UK residents are living in the fear that interest rates are about to jump early next year. These fears are justified as already a good many long-term fixed rate deals have been withdrawn from the market but there are still some very attractive deals on offer.

Value for money

The UK property market still offers remarkable value for money if you own a property or can afford to buy one. Anybody who has owned a property in a good area of the UK over the last 10 years would have seen their investment grow substantially.

Traditionally the UK property market has always offered good value long term investment potential and there is no reason to believe this won’t continue long into the future. The only unknown factor is what will happen after the Brexit talks conclude and how any deal will affect the housing market.

At present with low inflation, strong wage growth, falling unemployment and very competitive mortgage deals on offer the housing market will remain strong.

Mortgage advice?

If you are in need of assistance with a mortgage then call our expert advisers who are waiting to help.

 

 

As many as one in three expat homeowners in the UK don’t know what mortgage rate they are on, potentially costing them thousands of pounds each year, according to new research. Are you one of these?

The survey covered over 1500 expat homeowners with a mortgage in the UK and found that one in three (34%) didn’t know what rate they were on. A further four in ten (41%) only knew the approximate figure.

One in four (25%) of those who took part in the survey were on their mortgage lender’s standard variable rate (SVR), usually costing more than other products available from the same provider. The survey showed that only 35% of expat homeowners were on a fixed rate deal.

Looking deeper into the findings they reveal that borrowers with an average-priced home could end up paying as much as £450-£800 a month (over £4000 per year) more on their lender’s SVR.

Of those on SVR who had been on the same mortgage for at least the past five years, when asked why they hadn’t switched one in five (22%) said it wasn’t worth the hassle and one in seven (15%) claimed that they hadn’t thought about it.

There is a clear level of apathy when it comes to mortgage deals, over 70% said if re-mortgaging was made easier they would change immediately.

The re-mortgage market is competitive at the moment, so there’s a good chance that re-mortgaging will save you money. Speak to an independent expat mortgage adviser is a great place to start to find out your options, they will help make the prosses run smoothly and limit the paperwork you have to do.

Can we help?

If you would like to know more about a new or re-mortgage please do make contact and one of our qualified advisers will be happy to help.