UK Property Mortgages for Expats Expanding
Published / Last Updated on 14/08/2020
Given Brexit, the weak pound and the after effects of coronavirus and economic recession, stamp duty holidays and prices spiking and then falling back, there is significant interest in the UK property market for expats.
You may be earning or have wealth in dollars or euros and with a weak pound are therefore able to buy a more expensive sterling property than you would have done before.
On this we are seeing expat mortgage lenders starting to become more flexible
Allowing many countries that are perhaps more difficult to place e.g. Australia, China, the United Arab Emirates, USA etc but still the usual restrictions on expat mortgage when resident in places like Afghanistan, Iran, Iraq, Russia and Saudi Arabia etc.
Also greater flexibility on other assets e.g. wealth in and outside the UK, even pensions and past state pension age not just on secured annuity/guaranteed income but also unsecured pensions in flexible drawdown.
Non standard properties e.g. semi-commercial, multiple ownership, parental help even when parents are overseas, holiday lets even when using Airbnb.
