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Expat Money Newsletter - April 2017

Expat Money: UK Mortgages; Tax On Pensions

Welcome to the Expat Money Newsletter for April. We are once again focusing on the personal finance issues that matter to you as an expat, or would-be expat.

In this month’s edition we consider the difficulties expats face in securing mortgages on UK property purchases – and how these can be overcome.

We also look at important changes to how overseas pensions transfers may be taxed – make sure you avoid the new 25% charge.

I hope you enjoy this newsletter. I welcome your thoughts on other topics you would like us to cover. Or do you have your own tale to tell or question to ask about expat money? Let me know.

Feel free to forward this newsletter to anyone who you think may benefit from reading it. Just click on Forward to a friend or colleague below.

Iain Yule

Editorial & Publishing Director
Expat Network

Low Tax Locations

Mortgages For Expats 1: Loans For UK Property Elusive

Expat Tax 1: British Expats Should Keep Records

British expats have to look longer and harder to find affordable deals for UK house buying. Problems encountered by expats include having to find much larger deposits than UK-based customers, and higher interest rates and arrangement fees. These come on top of the usual hassles of finding and conveyancing a property purchase from a distance. But there are solutions.

Capital Consulting

Mortgages For Expats 2: New Expat Loan Calculator

Expat Tax 2: Beware UK Stamp Duty Hike

An upgraded online calculator gives expat mortgage customers a quick guide to UK loan options. It uses information such as property value and rental income to show customers the maximum amount they would be able to borrow, along with estimated monthly repayment costs.

Mortgages For Expats 3: The Brexit Factor

Expat Tax 2: Beware UK Stamp Duty Hike

As the Brexit trigger was pulled, the reaction of many British expats was to stay on the sidelines, avoid committing to any major new purchases and take the view they wanted to ‘see what would happen to UK house prices’.

Capital Consulting

Sponsored: Securing Property In UK Made Easy

Living & Working In China

Buying UK property as a British expat used to be tricky – yet, thanks to mortgage products specifically created for this purpose, and new applications that calculate how much you can borrow, and that even give you an agreement in principle online, securing an investment property in the UK is easier than ever before.

Since launching expat mortgages for British expats in 2014, Skipton International has helped British expats from every continent with securing a UK investment property, completing over £165 million of loans on more than 800 mortgages. To find out how easy it is to join them...

UK Expats: Beware New Pension Transfer Tax

Expat Tax 3: The US Foreign Bank Account Rules

A new overseas pension transfer tax could see the UK taxman take a quarter of expats’ transferred funds. Those thinking of moving UK pensions need to know the new rules.

One of the few surprise announcements in the UK Spring Budget was the ‘Overseas Transfer Charge’ – an immediate tax on certain transfers to offshore pension schemes.

Need for Medical Insurance

US Expat Opinions Could Win $1,000 Gift Card

Brexit And Expat Pensions

A new survey gives American expats an opportunity to unite in speaking their minds about expat taxes, the recent US presidential election and more. The results give valuable insight into what services and information expats need to better understand and comply with their US tax obligations.

Brexit And Expat Pensions

Sponsored: Premiums Cut On Expat Contractor Health Plan

Expat Tax 3: The US Foreign Bank Account Rules

As expat insurance specialists, Bellwood Prestbury have negotiated reductions of up to 25% on the Contractors International Health Plan. The new rates deliver savings of 25% for contractors aged up to 49 years and 20% for anyone over the age of 50. The plan offers a range of medical insurance options designed for expats working in the oil & gas, energy, aviation, engineering, security, NGO, humanitarian, telecommunications and technology industries. Get a quote now.

Need for Medical Insurance

Best Savings Rates In Expat Banking

Brexit And Expat Pensions

The best current offering for sterling offshore savers is Standard Bank’s 1.2%, if you have £10,000 and can give 196 days’ notice of withdrawals. You can beat this rate if you can leave your savings untouched for two years. Skipton International offer 1.4% annually over this period for a £10,000 minimum.

For dollars, Standard Bank pays 1.05% for $10,000 or more, with 196 days’ notice. Standard Bank is also best for euros, paying 0.15% for €10,000 or more, with 196 days’ notice.

Brexit And Expat Pensions

Understanding Expat Medical Insurance

Expat Tax 3: The US Foreign Bank Account Rules

A new website, expathealthcare.com, provides fully-independent answers to the many questions you may raise as an expat about making sure you are healthy – and have proper insurance cover – while overseas.

Expathealthcare.com is a resource you can use to find out all about healthcare and insurance cover for expats, what you need to know and where to find assistance.

Need for Medical Insurance
Capital Consulting

Learn About Life In India & France; Expat Pensions & Insurance

How The UK Budget Affects Expats

The Spring edition of Expat Living magazine is now available to read completely free of charge. You can learn about what it is like to live and work in India and how to retire to France. We also ask if you have proper expat insurance cover and have planned your pension properly.

How The UK Budget Affects Expats

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You will also find expert answers to the most frequently asked expat questions and receive regular news bulletins on contract awards and other expat news. Registration is free of charge – and you can unsubscribe at any time.

Christopher Nye Guides
Capital Consulting

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