Asia's Premier Expat Mortgage Broker
Call Us on: 852 9247 7065
Ex-pat mortgages
Daily Mortgage News:
• Commercial mortgages, secured loans and bridging finance as well as london investment property and property furnishings and management
• Established to service the financing needs for international property investors
75% Mortgage Lending available in certain London postcodes

LONDON PROPERTY

Here at Premier Expat Mortgages we  work closely with a number of residential and commercial property developers to bring you world class developments in Central London investment property within Central London and Outer London areas. London is one of the most buoyant property markets in the world and out performs investing in the F.T.S.E 100 stock market on many occasions. Gross yields are roughly 6% dependent on location with net yields of 3.5% to 4% are common

If you are interested in buying an investment property in London or UK property in other areas of the UK but haven’t started your search get in touch and we can help you find your perfect property. Our contacts of experienced developers here in Hong Kong and in London can provide you with some of the best off plan opportunities in new build developments and already built flats and houses.

Note: It is advisable to get your expat mortgage in place before or during your search for a property. It can take up to 6 weeks alone just to get financing in place and even longer if the lenders are busy with applications from different brokers overseas and in the UK.

 New Build

There are pros and cons to purchasing in the UK between new builds and also existing built properties if you are an expat based overseas.

New Build – Pros

  • New Build Property –  interiors such as kitchens, bathrooms and carpets  are brand-new and under warranty. What’s the cost to replace a roof, appliances, counter tops or a water heater on a used home? Those components of your new home feature the latest designs and building materials and should offer your tenant years of comfort and enjoyment before needing replacement.
  • Energy and Cost Savings: Today’s new homes are far more energy efficient than homes built just five, ten or 20 years ago,.Why settle for draughty, energy-wasting single-pane windows in a used home? Living in today’s new build homes could result in savings of around 55% on gas and electricity spending.Many new homes offer double or even triple-pane windows. Special window coatings and inert gases between the layers of glass are often available saving prospective renters money in both heating and cooling the property but also on noise reduction for your tenants.
  • All New, Under Warranty – Your new property will come with a NHBC 10 year certificate ensuring a good build quality and a warranty on the build standard whilst being built. Your new home will come with a 10 year warranty and insurance cover. This will give you two years’ builder warranty (some builders offer longer) and then a further 8 years’ insurance provided by NHBC for any serious defects in the build. You probably won’t need it, but it’s great to know that you’re covered just in case.
  • Latest Security and Fire Safety – New homes are generally safer and more secure than older properties. Fire safety, in particular, is helped by the standard installation of smoke alarms, fire doors, and fire retardant materials helping keep your tenants safe. Many builders will also include security locks, burglar alarms and security lighting as part of your standard specification.
  • No Chain, easier conveyancing – As an expat landlord your tenant can move into a brand new home as soon as it’s completed.. This means there’s far less potential for hassle and stress than when you’re buying a second-hand home and there’s a long chain of house sales and multiple parties involved.
  • Property Selection – As an expat purchasing a new build property there are a few advantages such as choosing the property direction such as South West facing, property floor for ideal views and even having special furnishings or layouts by early negotiations with the developers.
  • Access the UK Property Market with lower deposit     There is the option to purchase a new build property with 20% deposit to access the growth in the UK market and then sell or flip the property before completion saving you stamp duty and closing costs. You need to ensure that the developer you are purchasing from gives you the ability of a sub sale and assignment contract to sell on the property before legal completion.

Existing Built Property

There are just a few reasons purchasing existing built properties in the UK if you are an expat based overseas based on our experience of servicing expatriates and their mortgages for the last 5 years.

  • Timing – In a rising property market estate agents prefer buyers with cash or mortgages already agreed. Most expatriates overseas will see a property and put in an offer without having their expat mortgage agreed. This can take 4 weeks from mortgage submission to the lender and resulting in the agent selling to a local buyer so they receive their sales commission sooner.
  • Gazumping –  occurs when a seller accepts an oral offer (a promise to purchase) on the property from one potential buyer, but then accepts a higher offer from someone else. This is common is the UK, Ireland and Australia in rising markets.
  • Gazundering – Just as above this is where buyers have their chance and at the last minute before exchange of contracts they reduce their offer after lots of work has been done on the sale. This happens in falling markets.
  • Property Defects – These are usually discovered once the valuation has been performed and sometimes the seller knows about the defects but hopes you will purchase anyway and repair them. This isn’t an ideal situation as it means negotiating who will repair and the amount of the repairs.
  • Pulled Sales – Property defects, Gazumping and Gazundering and Chains can lead to lots of sales being pulled damaging both buyers and sellers. Regardless lawyers still need to be paid which can mount to thousands of  pounds being spent because of these events.

Why London?

  • Most mature and internationally recognized property market in the world.
  • No restriction on foreign ownership fuelling demand driven inflation.
  • On average, London property has doubled in value in value every 7-10 years since 1945.
  • Very strong rental demand (currently 8 tenants competing for every property).
  • London’s population due to grow by 10% over next 10 years not even enough property at present.
  • Weak GBP.
  • Low interest rates.

Get in touch and we will arrange a meeting for you with some fantastic developers that can assist you with your potential purchase.  We can also email  what great property deals and developments we currently have for sale

Email us at info@premierexpatmortgages.com

* Full Name

* Email Address

* Telephone

* Services interested in

* Message

captcha

Twitter

Contact Us

Call Us 852 9247 7065

Email Us info@premierexpatmortgages.com

Address We Are Based In Various Locations Around Asia