For expats and internationals living in Europe that own or aspire to own property in the UK, there are lots of reasons to remain positive about property in the UK. Falling property prices driven by political and economic uncertainty mean that there is value in the market. The weak pound also means property is available at attractive prices.
And there are numerous opportunities to invest for yield, particularly outside London.
One change to the market for expats and internationals in Europe is that while property remains an excellent investment, it’s now harder to access the money you need to buy or refinance in a fast-moving, diverse and fragmented mortgage market.
Challenges include sourcing lenders active in lending to overseas borrowers, regulation and ‘Know Your Client’ legislation, collecting and certifying documents from abroad, tax considerations, foreign currency risk, and language and cultural differences. Perhaps the biggest challenge is the wide range of lenders, often smaller building societies and challenger banks, which now service this market and can be hard to access.
At Altura we specialise in helping expats and overseas residents buy and refinance property in the UK. Over a combined several decades, we’ve built up strong relationships with a range of lenders who have a strong appetite to agree finance for such clients.
Many of the specialist lenders who lend to non- UK residents have little or no overseas presence and rely on UK-regulated advisers, such as Altura, to access clients. Indeed, many won’t accept applications directly from clients, requiring enquiries to come through a UK-based and regulated adviser.
What all this means is that Altura can potentially help access these niche, specialist lenders and get you the funds you need to buy or refinance property in the UK.
Here are some of the lesser known names:
We know property is an important part of a financial plan and that it can be more difficult to manage when you move away from your home country. We can help you to make sure you are getting the most from your investment and the optimal structure for your mortgage. You can find out more information at our website here www.alturafin.com or reach us by email: [email protected] .