The Client:
The clients were a married British couple who emigrated to sunny 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 expats, most lenders would not be able to lend to them.
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The Solution:
As whole of market 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 lenders cannot lend to expats using a specialist mortgage advisor means you get sound advice and experience in dealing with expat mortgages.
Please get in touch today with our dedicated team of Specialist Expat Mortgage Advisers for any Remortgage or Mortgage questions you might have. Call us now on +44 1494 622 555. Alternatively, you can also fill in this short online form and we will get back to you straight away.