The Client:
The clients were a married British couple who emigrated to live in Australia a few years ago. The client had secured jobs as a GP and a local government officer and had since welcomed a child into the world since relocating. The clients’ owned a Buy-to-let property in the UK which was coming to the end of its fixed term interest rate.
Scenario:
Given the rise in lenders standard variable rates in recent times, it was important we acted to secure a more attractive interest rate as quickly as possible. Based on their status as British expats living in Australia, most lenders would not be able to lend to them.
The Solution:
As whole of market and specialist Expat Mortgage Broker we were able to compare a remortgage against a product transfer from their existing lender. Based on a “true cost comparison” we were able to arrange a new deal for the client with their existing lender which they rolled on to when their existing fixed term deal ended. This is known as a Product Transfer / Switch and something we do for zero cost for our clients, which includes managing the whole process on their behalf.
Furthermore, if a better deal had subsequently become available before the end of their fixed term, we could have selected that alternative without any penalties. This gives peace of mind that you are going to get the best deal available.
Summary:
Many Brits choose to emigrate at some point in their life and they often want to hold onto the property they have worked hard to acquire in the UK. Whilst many standard mortgage lenders cannot lend to expats, using a specialist expat mortgage advisor means you get sound advice and experience in dealing with expat mortgages.
If you have any questions relating to a Expat Buy to Let Mortgage, contact us today to speak directly with one of our CeMAP certified Mortgage Advisors. Call us today on +44 1494 622 555. Alternatively, please complete this short online form one of our Advisors will call you right back.