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British Expats paying too much on their mortgages?

Written by Sam Jones on 14 September 2012.

Many expats could be paying too much on their mortgages as they can often lose touch with their UK finances and end up on their lender's standard variable rate when they move overseas.

With variable rates as high as 5.99% through some lenders, Expats could be paying double the best expat mortgage rate to which they are entitled.

For example, on a mortgage of £100,000 the extra interest payments could equate to £3,000 or more per annum.

Additionally, it could be even more cost effective for expats as some lenders will permit properties to be let for 2 to 3 years if a return is planned during this period.

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