British

British expats face challenges buying a property ahead of move home

by Ray Clancy on November 15, 2018

Expats moving back to Britain face challenges if they need to find a home to buy with many surprised by the rise in prices in places like London.

While many expats, who planned to only work abroad for a set time and rented out their property rather then selling up, there are others who return due to other reasons such as Brexit, family or health, and do not own a home.

(Victor Huang/Bigstock.com)

Others who are not intending to come back now have more choice in terms of getting a mortgage with lending opportunities increased.

‘The main buying challenges for expats are associated with finding the right location and the right property from a great distance. Evaluating market conditions, values, unfamiliar bureaucracy and dealing with estate agents remotely is an unenviable task,’ said Bill Spreckley of Stacks Property Search.

‘Depending on how long they have been away, they can be out of touch about many aspects of UK life, property and schooling being the most frequently cited areas of difficulty. With moving costs being so prohibitive and due to the prices of property in London, a high percentage of expats are now returning directly to the Home Counties and beyond,’ he explained. [click to continue…]

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