Cheap expat mortgages for UK landlords living abroad?

Cheap expat mortgages for UK landlords living abroad?

landlord question expat BTL mortgage property118.com
Readers Question by Readers Question
3:16 PM, 23rd September 2022, 4 years ago
Categories:
Landlord NewsLandlords Questions

Hi, I own 5 mortgaged rental properties in the UK. Since I am now living abroad I am concerned that when the mortgages are up for renewal, I will not be able to borrow at competitive rates.

I can only find a few lenders who will lend to expats and the rates are much higher than they would be for a UK resident.

And this would potentially make my property business nonviable.

Is there a work around for this? Eg, taking a UK based business partner / getting a mortgage in joint names?

I’ve got family living in the UK who I can trust in case that widens the available solutions.

Any advice would be appreciated.

Stephen

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