Who needs an expat mortgage and what are the typical reasons?
Britons living abroad, either temporarily or permanently, will need to obtain a mortgage from a lender that has chosen to lend to expats.
Typically, expats are looking to invest in buy-to-let property whilst living overseas, perhaps to provide an income in retirement or even to live in upon their return.
Whilst fluctuating exchange rates can, at times, provide a good opportunity for investors, it is also true to say that many expats earn better salaries abroad than they would do here in the UK. A lower cost of living means they have more disposable income and want to invest in UK property.
Aside from investors enquiries from individuals looking to buy properties for their families to live in – frequently where children are involved and the preference is for them to be schooled in the UK.
Selecting a mortgage to suit your needs
Securing an expat mortgage doesn’t have to be difficult, it is always recommended to get expert professional help. Using a specialist expat broker will without doubt give you the edge as they will be experienced in this type of mortgage process.
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.
It is expected that house price increases will level out over the next year with a steady but reliable growth rate, again spelling good news all round.
So, at present the outlook for 2022 is very positive indeed, the signs are this will continue for the foreseeable future.
Can we help?
If you are looking for an expat new or re-mortgage please do make contact and one of our fully qualified independent advisers will be happy to assist.