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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

Expats should consider short-term appeal of regular savings, says report

There are so many options when it comes to expat regular savings, but sometimes, according to a new piece of research, the best thing to do may also be the most straightforward.

The report, which was carried out by Paul Lewis (respected journalist and presenter of Money Box, Radio 4’s flagship financial affairs programme), found that over a 21-year period, regular savings actually produced better returns than shares from a FTSE 100 tracker fund.

The research has raised some eyebrows in the financial advice and wealth management industries, where it has long been the accepted position that investing in shares produces better outcomes than simply adding to expat regular savings.

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Blacktower’s Nexus Fund Reaches £100m Milestone

London – July 2019: Leading wealth management provider, Blacktower Financial Management Group has announced value of £100m under its Nexus Global Solutions Portfolio. 

Launched in 2013 and managed by industry heavyweight, Quilter Cheviot, the funds, Nexus Global Dynamic Portfolio and Nexus Global Solutions Portfolio, were originally conceived by Blacktower Group as means to provide its clients with access to award-winning investment DFM solutions.

The Nexus Solutions Portfolio is managed by David Miller, Investment Director of Quilter Cheviot.

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