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Navigating expat remortgages: A guide for accidental landlords

Are you an accidental landlord living abroad, suddenly faced with the need to remortgage your property in the UK? The process can be daunting, but fear not, as there are solutions tailored to your unique situation.

Often, accidental landlords receive last minute permission to let their property from their current mortgage lender before embarking on an expat placement. This permission typically lasts for 12 months, leaving the accidental landlord scrambling to secure a remortgage once the period expires. The sudden request from the lender for updated information on your income and address can be stressful, leaving many unsure of their eligibility for an expat remortgage and how to navigate the application process.

This is where online mortgage experts come in. Specialists like Offshoreonline understand the complexities of expat mortgages and remortgages and can match you with the right UK expat mortgage for your needs. While high street lenders like Lloyds Bank, Santander, Barclays Bank, TSB, and Nationwide may not offer expat mortgages, there are still plenty of options available through specialist lenders.

The process of securing an expat buy-to-let remortgage is relatively straightforward, but it’s crucial to use a specialist lender. Guy Stephenson, director of Offshoreonline, emphasises that “Whilst mortgages are often based on rental income, the best deals are accessible to those with salaried income or established self-employment, backed by local tax returns or accounts.

“At Offshoreonline, we offer a no-fee advice service to assist clients in determining the right path for their remortgage dilemma or property purchase as an expat. Whether you’re facing a time sensitive remortgage situation or simply exploring opportunities to invest in UK property while living abroad, our team is here to guide you through the process” added Stephenson.

Don’t let the stress of navigating expat mortgages overwhelm you. With over 27 years of experience, the expertise of online mortgage brokers like Offshoreonline can help landlords and accidental landlords secure the right mortgage for their needs, efficiently and effectively. Contact us today to take the first step towards securing your financial future as an expat landlord

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