Expats are often looking to invest their offshore earnings in long term savings plans or other financial instruments designed to get them a good return.
One popular option for expats is always to tap into the buoyant property market back home in the United Kingdom. However, this is becoming more and more difficult as the number of buy-to-let mortgages on the market that are designed for expats dwindles.
Now one United Kingdom based lender has launched a buy-to-let mortgage for the large British expatriate community around the world.
The building society Kent Reliance will now offer a mortgage specifically targeted at Brits who are temporarily living or working overseas and looking to add to their UK property portfolio.
The mortgage is only available to expats who already own a property in the UK but will garner interest from a large number of interested investors.
John Eastgate, sales and marketing director at Kent Reliance, said: “We have seen a surge in demand from expats looking for buy-to-let products. Invariably, they are experienced landlords with a strong track record, yet the fact that they reside overseas excludes them from most UK lenders.”
The new mortgage product will not be suitable for all investors however, so if you would like to speak to an expat focussed financial planner then please let us know.