Expat Buying Property In UK – Quick Guide

This quick guide for any expats thinking about buying property in the UK outlines the key steps you need to take for a successful property purchase.

A combination of Google research and property portals like Zoopla and Rightmove mean expats can easily buy UK property no matter where they are as long as they have an internet connection.

Steps you need to take

• Look for a property that fulfils your requirements using an online property portal like Zoopla or Rightmove.
• Do a little in-depth research into the area around your property using Google.
• Whether you are using Rightmove or Zoopla, they will provide you with details of how to contact the estate agent handling your property of interest. Make contact and ask plenty of questions.
• Arrange a property viewing. If you are located overseas a viewing of the property is still recommended if you can organise one. Why not ask somebody you know to view the property on your behalf? Or alternatively, you could pay somebody to visit the property for you.
• When you are confident you’ve found a suitable property you then need to confirm how you are going to pay for it. If you are taking the cash route you can move onto the next step. But if you are intending to loan the money from a mortgage provider, you should arrange the amount you intend to borrow as soon as possible. You can find a comparison of expat mortgage brokers here.
• When all the above is complete, it is time to make an offer. Text message or email works great here because it provides a written record.
• If your offer is accepted, you should recruit the services of a reputable lawyer. You can ask the estate agent handling the property to recommend reputable companies. This means you can then contact the lawyers yourself for quotations.
• From this point onward you can leave everything in the hands of your lawyer. They’ll contact you when they need to, and you can contact them for the odd update to keep abreast of how things are progressing over time.
• When everything’s done, you should receive a confirmation from your lawyer informing you the property is now yours.

Mortgages

Expats applying for a mortgage to buy UK property usually either apply for a mortgage in their country of residence of apply directly to a UK lender.

Though, a lot of lenders don’t touch expats, there are a few specialists that will provide loans to overseas residents.

Typically, you use an specialist mortgage broker that deals with expats.

But in general, the only difference between applying for a mortgage in the UK and overseas, is that you will need to send documents via courier service.

A few extra pounds and a little time spent without your passport should be doable for most.

The bottom line

Google used alongside property portals means expats should find the whole UK property buying process pretty straight forward no matter where they live.