Optimistic signs in expat buy to let market as mortgages rates fall and prices stabilise
The UK buy to let housing market may have turned an important corner with major lenders announcing lower rates for expat buy to let mortgages and two property portals, Zoopla and Rightmove, announcing that the supply of houses put on the market had increased by 5.9% in January and asking prices had risen by 0.9% in the same period respectively. Previously, Rightmove had noted UK house prices had fallen over the latter part of 2022, especially following the brief Truss government.
Guy Stephenson of expat mortgage brokers Offshoreonline commented, “We are now seeing at least one lender offering expat buy to let mortgages at a margin of less than 1% over UK Base Rate. We have not seen such margins in probably ten years, but it is an another signal that markets are returning to a new normal, with the UK Base Rate now expected to remain at a much higher level than was the case since the financial crash of 2008/2009. The inevitable result of higher UK Base Rates is that lenders are having to trim margins to remain competitive.”
House prices have remained solid in many parts of the UK, despite steeply rising mortgage rates, as the supply of homes for sale has been outstripped by the demand for property. With the supply side of the market now showing a significant jump, according to Zoopla, expat buy to let investors should now have a much wider choice.
Offshoreonline is also reporting the return of many smaller building society lenders to the market after they abruptly withdrew in the face of market volatility during the political turmoil seen in September and October.
Stephenson ends, “With more lenders returning to the expat mortgage market and those lenders now clearly seeking to price expat buy to let mortgages competitively, we are optimistic and feel that 2023 will in fact be a year when expat buyers return to the market.”
January 2023
_____
« Back to News
Latest News
- Great time for US dollar earners and US residents to invest in European real estate
- Good news for expat UK house buyers, as expat mortgage rates start to ease
- Falling house prices, high mortgage rates – should UK expats buy a house now?
- The 5 cheapest cities for first-time buyers
- Why getting a mortgage in France is now so much easier for buyers from the USA than the UK
- Green shoots appearing in UK property market, good news for expat house buyers
- UK Housing asking prices see smallest February increase on record
- Optimistic signs in expat buy to let market as mortgages rates fall and prices stabilise
- Expat UK property investing: Three positive signs, thinks broker
- Expat buy to let market still strong after two rate rises, says broker
- Recovery and strength in the UK housing market for 2022?
- Expat broker optimistic on post Covid UK buy to let housing market
- Broker warns over mortgage payment holidays
- Buying UK buy to let property after lockdown – expats will have the upper hand, thinks broker
- Expat lenders react to keep expat mortgage deal flowing during COVID-19 crisis
- Coronavirus impact on UK housing might be short lived, thinks expat mortgage broker
- Getting a mortgage whilst living abroad or getting a mortgage after you have moved abroad.
- What Happens when my UK Expat Mortgage Expires?
- Buy to let bargains abound, thanks to Brexit effect, thinks broker
- Expats increasingly vulnerable to new build deposit loss
- UK house hunters lead 6% growth in French non-resident property transactions
- Expat Buy to Let Mortgage Rates Cut Again
- Brexit fears give expats the edge, as UK buyers shun property
- Mortgage tax changes in Spain help buyers
- Expat mortgage broker predicts banks will not pass on full Base Rate rise to mortgage holders.
- Falling Expat Mortgage Interest Rates and Weak UK Housing Market Favour Expat Buyers
- UK property beats pensions, says UK official study
- Taxes for UK expat landlords might not be so hard after all
- Why a sinking pound need not scupper your French property dream
- Is it time to add UK university fees to your expat mortgage?
- Resurgent Spanish property market prompts new mortgage launches
- The new landscape for UK property investors – still good value
- New UK Buy To Let Rules Will Impact Expat Property Buyers – 2017
- UK rent rises continue to outstrip inflation, expat buy to let remains popular
- UK Stamp Duty hike not as harsh as first feared for expat property buyers
- Do I qualify for expat or international mortgages?
- Brexit need not harm the expat mortgage market, thinks Offshoreonline
- UK stamp duty changes, capital gains tax changes will impact expat buy to let investors, so start planning your checklist now
- Booming London property rents continue to attract expat buy to let landlords
- New UK Stamp Duty Won’t Dent Appeal of Buy To Let Mortgages For Non UK Residents
- QE spells heaven for overseas property buyers in Europe
- Thinking about buying a house in 2015? For expats, the signs are good
- UK property prices on the up in 2015 good news for expat buyers
- UK Stamp Duty changes – the winners and losers
- French expat euro mortgage rates fall again
- New house price index to make life easier for French euro mortgage house buyers
- New Spanish government figures point to gentle housing market recovery
- Buyers forced out of London by spiralling property prices have helped fuel a 10% annual rise in asking prices in the south-east – a rate that has now outstripped inflation in the capital.
- UK student loans – plan now for flexibility
- Landlords enjoying “record income from letting