Skipton Return To The UK Buy To Let Remortgage Market

expat network

Skipton Return To The UK Buy To Let Remortgage Market

Skipton International, the UK Buy to Let mortgage lender for overseas residents, has returned to the remortgage market. Due to COVID-19 restrictions preventing physical property valuations, Skipton International had previously stopped accepting mortgage applications.

With a limited number of mortgage providers offering Buy to Let mortgages to British Expats and Foreign nationals, this is a welcome return to the market. Skipton International will initially be accepting applications for remortgages, with a maximum loan to value (LTV) of 60%.

Roger Hughes, Business Development Manager at Skipton International said “prior to the COVID-19 pandemic, we were seeing strong demand from overseas residents for our UK Buy to Let mortgages. We hope our return to the remortgage market will provide an attractive offering for Buy to Let investors”.

Skipton International is monitoring developments and availability of valuations with an expectation of offering mortgages for UK BTL purhcases in due course.

For more information on Skipton International’s range of UK Buy To Let Mortgages visit www.skiptoninternational.com/uk-mortgages, where a Mortgage Calculator provides an estimate of how much could potentially be borrowed and the resulting monthly repayments.

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.