How to get a buy-to-let mortgage for a British property
Almost five million Britons live or work outside the UK and many of them don't want to give up property ownership in the UK.
Who needs ex-pat mortgages 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 ex-pats.
Typically, ex-pats are looking to invest in the buy-to-let property whilst living overseas, perhaps as a way 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 property investors, it is also true to say that many ex-pats earn better salaries abroad than they would do here, and the correspondingly lower cost of living means they have more disposable income and want to invest in UK property.
Aside from investors, we also see enquiries from foreign nationals looking to buy properties for their families to live where children are involved and the preference is for them to be schooled in the UK.
Exchange rate fluctuations have to be taken into account, not just the current value of the currency this is to ensure that the clients feel comfortable that the new mortgage will not put them under undue financial stress now, or in the future.
How should I apply for an ex-pat mortgage/re-mortgage?
Holborn Property offers hassle-free property Investing service with deposits from as little as 10%. With some off-plan and completed developments. Additionally, We offer a comprehensive, fully managed solution to property investment across the UK.
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