UK Expat Re-Mortgages
Expat mortgage business growing fast yet again this year
This financial year has seen more new expat mortgage business being conducted than this time last year and applications are still rising as the year progresses.
September and October have seen a record number of re-mortgages as 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?
As expat independent mortgage specialists, we offer a much-valued service to our clients, so please make contact if we can assist you.
