Mark Hampton - SPF

Mark Hampton
Financing your UK property 
11 JUNE 2014

Soaring property prices in pockets of London and the Home Counties are the source of much interest among expatriates in Singapore. On our recent visit, we encountered a real sense of not wanting to miss out. But at what point do you take the plunge and jump back into the UK property market, particularly if you are planning on returning in the not-too-distant future?

The principle issue is that it is not that easy for an expat to get a UK mortgage  – and this has been the case ever since the credit crunch. The majority of high-street lenders have withdrawn from this market, making it a challenge to obtain a conventional buy-to-let mortgage on a UK property. A number of the smaller building societies will lend to expats but they are few and far between and only accessible via a specialist broker.

However, some lenders will agree to a mortgage as long as you intend to return to the UK at some point in the future and are employed.

There are plenty of private banks that will lend to expatriates but only a few will do so on a transactional basis and some may geographically restrict lending to London and the southeast.

If you are prepared to take up a private bank’s offer of wealth management, then there will be many more funding options available to you.

As you can see from the above what is crucial is that you seek independent advice from somebody who understands this market. SPF Private Clients has excellent contacts in the private banks, as well as among the building societies and high-street lenders, and can find the right funding solution for your circumstances. SPF assists many foreign nationals purchasing UK property, so we fully understand the particular issues you may face.

For more information, contact Mark Hampton on + 44 (0) 20 7330 8525 or + 44 (0) 7967 555 869 or email: mhampton@spf.co.uk

 

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