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Expats with regular savings encouraged by new buy-to-let offerings

“Demand for buy-to-let mortgages from British expats continues to be strong and by opening up our mortgages to more countries we can continue to give British nationals living around the world the opportunity to invest in property in the UK,” commented Jim Coupe, managing director of Skipton International.

Some UK expats with regular savings may find it difficult to invest in buy-to-let in their country of origin though; the UK property market continues to grow at a rate which outstrips that of most other countries in the UK, meaning it can be difficult to get a foothold on the buy-to-let ladder. For example, in 2015 the rate of house price growth in the UK was 4.5%, a full 1.5% higher than the average global increase over the same period. Only a few countries, with popular UK expat destination Malta among them, managed to keep pace.

Other News

How much should I be saving for retirement?

Retirement couple sitting on a benchMillions of employees work tirelessly for decades in the expectation of a comfortable retirement in the future. But for many UK residents retirement is an event to be feared due to lack of savings and pension. It’s important to find the balance for comfortable retirement savings.

To help you understand how much is needed, we at Blacktower Financial Management have revealed how much to save for retirement, how much you should be saving for retirement each month, and top tips that map out the best way to save for retirement.

If you plan on living out your retirement years without worrying about finances, ensuring you have sufficient retirement savings is a must.

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Safeguarding your Pension and Assets

Many UK expatriates do not realise that even if they have left and are no longer resident in the UK, they remain UK-domiciled and therefore subject to UK Inheritance Tax (IHT) on their worldwide estate at a rate of 40 per cent after allowances. This can come as a major shock. 

Brexit

What can be done about this? There are several options. 

Transfers of wealth on death between husband and wife are exempt from IHT, but only if the spouse is also domiciled in the UK (or both are non-domiciled). This catches out many expatriates who have married a foreign passport holder who is likely to be domiciled elsewhere. Even then, the IHT is only delayed rather than avoided, because on the death of the survivor the tax will be payable on the passing of the family assets to the next generation. 

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