More Expat Buy To Let Mortgages

More Expat Buy To Let Mortgages.

This week we have seen two new lenders enter the expat buy to let mortgage market.

Up to last year, the number of lenders operating in this market had fallen dramatically with many lenders picking and choosing countries that they would deal with their British expat client lived and others placing huge capital requirements, not just on income but on leaving sizeable, virtually zero interest capital accounts on deposit and even some picking and choosing occupations.

Would you believe you can be ‘too high up the corporate ladder’ as well as perhaps those at a lower end not having an appealing or secure occupation?

Why is Expat Buy to Let Interest Mounting?

Despite the increases in stamp duty for investment property and 2^nd homes, this has not put expat and foreign buyers off.  Britain is considered a safe haven for many foreign nationals and many British expats also like to have a ‘bolt hole’ as well as keeping an interest in the UK property ladder rather than returning in 10 years only to find prices out of reach.

In addition, the Brexit vote has created uncertainty about peoples’ ability to buy in the future and the much weakened pound, particularly if you are paid/have capital in US $, has made UK property much cheaper to buy.

This is perhaps why there are more lenders looking to enter the expat buy to ley mortgage market.