Contact

News & Insights

Expats look to invest in UK property market

Although many clients of expat financial services providers would like to invest in the UK property market, it can sometimes be difficult to obtain mortgages to this end. As such, over recent years a number of banks, building societies and other providers have sought to develop products that are specifically aimed at the British expat customer who is looking to retain a capital interest in the UK property market. Despite these changes, it is still advisable for British expats to seek independent financial advice as to how they can circumvent the “high risk” label placed on them by many major UK lenders.

Another stumbling block to expats investing in the British housing market are the numerous identity checks and financial checks placed on borrowers; many checks are automated and nearly all rely on the electoral role and the possession of a UK address and/or credit card.

Furthermore, some lenders will not even consider lending to expats in certain countries although expats residing in EU countries tend to have comparatively little trouble finding a potential lender. The situation is improving though. This year some lenders started offering products to expats in Colombia, Costa Rica, Ghana, Mongolia, Northern Cyprus, Senegal, Sri Lanka and St Vincent; countries which until this point had been considered as high risk.

One provider, offshore banking specialist Skipton International, has said that in the fallout of the EU referendum it has seen a considerable surge in interest from British expats looking to take advantage of the weakened pound by using it as leverage for buy-to-let investments. “We have seen up to four times the number of queries we were seeing before Brexit,” said a spokesperson with the firm.

Those who apply for expat buy-to-let mortgages tend to make their repayments in a variety of ways, from using regular savings to using money derived from QROPS pensions incomes. Advice from an expat financial services specialist can help would-be investors determine the best route .

Other News

Expat Finances in Spain, Tax and Data-Sharing

Spanish flagRapid developments in IT systems, financial databases and data-sharing platforms over recent years now mean that it is easier than ever for nation states to share and exchange financial information relating to the investments, income, taxes, savings accounts, properties and pensions of individuals who have assets placed in multiple locations across the world.

Inevitably, this also means it now crucial to ensure you disclose your full list of assets whenever required.

As a British native you might be a little complacent in this regard. The UK has one of the most stringently and best-regulated financial advice sectors in the world, and in many cases if your adviser fails to disclose your full spectrum of assets and interests it is he or she, rather than you, who will be liable.

Read More

Could Italy tear the EU apart?

Europe is heading towards a “cataclysmic event” that could lead to the collapse of the euro and the end of the European project as we know it, according to Nobel prize-winning economist Joseph Stiglitz. In the run-up to the UK’s vote to leave the European Union, Italy’s litany of problems had gone largely unnoticed. However, Italy  – the Eurozone’s third largest economy – not only faces political turmoil but enormous economic strife too, and a banking industry on the verge of collapse.

Read More

Select your country

Please select your country of residence so we can provide you with the most relevant information:

You are currently viewing the Blacktower Financial Management EU website.

You may be looking for the Blacktower United States website.

Blacktower United States > X Stay on this site

Or choose your country.