Expat UK Property Story

Hosted by The Expat Property Guy

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338

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Oct 2026

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Expat Property Story is a UK property podcast for expats, overseas investors, foreign nationals and digital nomads who want to build and manage a UK property portfolio remotely. Host John, The Expat Property Guy, has been investing in UK property from Hong Kong since 2018, and the show shares what he and his guests have learned along the way, mistakes included. Each week, John talks to expat property investors, mortgage brokers, accountants, letting agents, sourcers and auction specialists about the practical realities of UK property investing from abroad. Topics include expat buy-to-let, expat and non-resident mortgages, HMO investing, UK property auctions, refurbishments, buy-refurbish-refinance (BRR), bridging loans, deal sourcing, remote project management, UK landlord tax, Section 24, the Non-Resident Landlord Scheme and the Renters' Rights Act. Monday Mini-sodes bring regular UK mortgage updates, property auction roundups, tax tips and deal reviews, while the longer Thursday episodes cover everything else you need for remote property investing. The show is sceptical of property gurus and hype, and focuses on what actually works for investors buying and holding UK buy-to-let from overseas. With a back catalogue of 330+ episodes, this is the podcast for anyone building UK property wealth from outside the UK. This show is for you if you find yourself asking questions such as: • How do I build a UK property portfolio from overseas? • Can I buy a buy-to-let property in the UK while living abroad? • Can I get a UK buy-to-let mortgage as an expat? • How do I find people I can trust in the UK when I live abroad? • How do I avoid property scams and gurus when investing from abroad? • Is UK buy-to-let still worth it for expats? • Should I buy UK property in my own name or through a limited company if I live abroad? • How many UK properties do I need to reach my financial goal? • Can I buy a UK property remotely without flying back? • How do I manage a UK rental property from overseas? • Where is the best place in the UK to buy a buy-to-let? • How is UK rental income taxed if I live abroad? • Should I rent out my UK home or sell it when I move abroad? • What should I do with savings sitting in the bank while I live abroad? • Can non-UK residents buy property in the UK? • Can I get a UK mortgage if I earn in a foreign currency? • Do I need a UK limited company to buy buy-to-let as a non-resident? • What is the Non-Resident Landlord Scheme? • How do I find a reliable letting agent from abroad? • Is hands-off property investment safe?

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October 26, 2026Episode 33810 min

338: UK Property Auction: Is the Market Crashing? A Trader’s Answer

#338 Once a month, auction specialist Jay Howard from Hammered Auctions joins us to report from the front line of UK property auctions. Jay reports that an auctioneer recently told him that it feels as if we are getting close to a crash Jay, an auction trader and former auction manager, takes that with a pinch of salt and explains why. Then the conversation turns to a Thunderbirds-style house with a rocket beside the swimming pool and a railway underground, and the question of whether anyone will buy it. Take our 2 min Survey Discovery Call Access Resource Library Our WhatsApp group Get in Touch Property Engine discounts (Code: EXPAT) Starter: 30 day trial Pro: 30 day trial/3 mths 1/2 price, Ultimate: 1/2 price 3 months Our Sponsors: Finnigan McNeill Property Group YouTube ExpatPropertyStory.com We discuss: What the UK Property Auction Room Is Saying Jay opens with a conversation he had with an auctioneer the night before a sale. According to that auctioneer, a lot of buyers were still waiting until the very last moment to register to bid, and it was shaping up to be a tough day. A second auctioneer told Jay a couple of weeks earlier that the market feels close to a crash. Jay points out that she would have been in her early teens in 2008, so she has not worked through a property crash as an adult. Is the UK Property Market Crashing, or Just Adjusting? Jay does not think there is a crash, and he goes further, saying he thinks crashes are a thing of the past. To him, a crash means people handing back keys in their droves, values falling nationally, banks not wanting to lend and owners slipping into negative equity. What he is seeing instead is a slow, sluggish market, which he describes as a market adjustment. You also hear his view on the idea of a silent crash, which he does not subscribe to. He shares a recent sale where the client agreed it was a good price for this market, while both felt it might have fetched around £10k more six months earlier. Jay also looks back at COVID, when furlough and higher savings increased buying power and pushed prices up rather than down. Why Lending Rules Make Mass Negative Equity Less Likely Jay's reasoning rests on the rules now in place around lending, loan to values and affordability checks. In his view, these make it very difficult for a market correction to push large numbers of owners into negative equity at once. He accepts that some people will still find themselves in trouble, just not on the scale seen in 2008. What Is and Isn't Selling at Property Auctions At recent auctions, Jay has seen far less activity around what he calls long play opportunities, such as land, garages and vacant commercial property. Light industrial units, workshops and offices are still doing well, while vacant high street and secondary shops are struggling. The Thunderbirds-Style House Going to Auction The BBC has reported on a house in Tilehurst, Berkshire, that is reminiscent of the home in the 1960s TV series Thunderbirds. It has a rocket beside the swimming pool, an extensive network of tunnels and underground rooms, and a hand-built underground railway. At the time of recording it was due to go to auction with Edisons, with a guide price of £300,000 to £325,000. Jay compares it with the Mole Man of Hackney, a property Auction House London was instructed to sell roughly six months to a year before he joined. Why Quirky Properties Go to Auction Jay explains that a house like this goes to auction not because anything is wrong with it, but because it is so hard to value. How do you put a price on a rocket ship, a swimming pool in the British weather or a network of tunnels? He explains why a property this unusual needs the attention an auction brings rather than a spot in an estate agent's window. Will it sell, and for how much? Jay gives his prediction, and explains why what the market will pay and what a trader will pay are two very different things. Key Takeaways A sluggish market and a crash are not the same thing, according to Jay. Today's lending, loan to value and affordability rules are, in his view, the main reason mass negative equity is less likely than in 2008. Recent auction rooms show less appetite for long plays such as land and vacant commercial property, while light industrial units remain in demand. Hard-to-value properties often suit auction better than a traditional estate agent. A trader prices a property to the margin they need, which can be very different from what the market will pay.

October 21, 2026Episode 33726 min

337: Why Bungalows? A UK Property Strategy for an Ageing Population

# 337 Take our 2 min Survey The UK has an increasingly ageing population, and research by the Homeowners Alliance points to a large and growing demand for bungalows, yet hardly any are built anymore. In this episode, I talk to Jo Child , whom I met in Coventry on my recent UK property tour, about the three bungalows she has renovated with her brother, who is a builder. Take our 2 min Survey Discovery Call Access Resource Library Our WhatsApp group Get in Touch Property Engine discounts (Code: EXPAT) Starter: 30 day trial Pro: 30 day trial/3 mths 1/2 price, Ultimate: 1/2 price 3 months Our Sponsors: Finnigan McNeill Property Group YouTube ExpatPropertyStory.com We discuss: Why choose bungalows as a property strategy? Jo started with a bungalow because a small, single-storey project felt like a manageable first renovation. Filtering for bungalows on Rightmove narrowed what would otherwise have been a very wide search area between Leicester and Coventry. Many bungalows on the market need modernising, while fully renovated ones ready to move into are in short supply. Accessibility features in a bungalow renovation Jo's first buyer used a wheelchair and ripped out much of the new renovation, including the carpets, to suit her needs. On her third project, Jo widened the door frames, set sockets, switches and door handles at an accessible height, and fitted hard flooring throughout. She also kept floors level, fitted a walk-in shower instead of a bath, and reinforced the bathroom walls so grab rails can be added later. The style was kept neutral, modern and light to appeal to buyers of all ages. Checking demand and finding the deal Jo checked demand by looking at how many bungalows were for sale on Rightmove, how quickly they sold, and by talking to local agents. She found her first bungalow on a street with lots of other bungalows, after a modern method auction sale with Pattinson had fallen through. Before offering, she asked the auction house why the earlier sales had collapsed, and it turned out to be the buyer's circumstances rather than the property. Jo also shares a stamp duty lesson that cost her on a later project. Choosing an estate agent and pricing to sell Jo found three agents through local Facebook groups and chose the one she felt would offer the best service, not the highest valuation. Because she had bought at a good price, she could price the bungalow to sell, and it went for over the asking price within a few days. Working with family and finding builders Working with her brother brought trust and quality, along with the occasional sibling argument. For investors without builders in the family, Jo recommends local Facebook groups, where people are quick to say who they rate and who to avoid. What's next for Jo After three renovations alongside a full-time job and two children, Jo has built up equity and is now looking at title splitting and commercial property for more regular income. Key takeaways · Fewer bungalows are being built while demand grows, and a focused niche can make your property search easier. · If you are flipping, choose an estate agent based on their marketing plan, not the highest valuation. · Whatever your strategy, buying at a good price is the best way to reduce risk and avoid pressure to sell low.

October 18, 2026Episode 3365 min

336: What’s Holding You Back in UK Property Investing? We Want to Know

#336 For the first time in 336 episodes, Expat Property Story is running a listener survey. The aim is to understand the main challenges you face when building, or thinking about building, a UK property portfolio from overseas. Whether you haven't bought yet, own one property, or have ten and are thinking about slowing down, your answers will help shape future episodes. Take our two-minute survey The survey is mostly multiple choice, with just two open questions, and takes two or three minutes to complete. Listeners based in the UK are just as welcome to take part as those overseas. The findings will be shared in a future episode. Take our 2 min Survey How the podcast began The podcast launched in February 2022, when we already owned five student HMOs but still felt like novices. Season one looked back at how we bought those HMOs, alongside interviews with UK property experts. In season two, episodes 35 to 53, I set myself the challenge of buying a UK property at auction from Hong Kong within four months, and secured a block of flats in Derbyshire with two weeks to spare. Since then, guests have mostly been chosen out of curiosity, and the survey is a step towards a more systematic approach built around what listeners need. Take our 2 min Survey Discovery Call Access Resource Library Our WhatsApp group Get in Touch Property Engine discounts (Code: EXPAT) Starter: 30 day trial Pro: 30 day trial/3 mths 1/2 price, Ultimate: 1/2 price 3 months Our Sponsors: Finnigan McNeill Property Group YouTube ExpatPropertyStory.com

October 14, 2026Episode 33530 min

335: How to Analyse a UK Buy-to-Let Deal: Area, Street, Property and Numbers

#335 Take our 2 min Survey A text arrives at 5pm Hong Kong time with a batch of discounted UK properties, at least 25 other buyers in the race, and a condition that contracts must be exchanged within six hours. That leaves less than an hour to analyse the deal. In this solo episode, I walk through how to analyse a UK buy-to-let deal from overseas, from the wider area down to the street, the property and the numbers. At the end, I reveal what happened on that evening in November 2022. Take our 2 min Survey Discovery Call Access Resource Library Our WhatsApp group Get in Touch Property Engine discounts (Code: EXPAT) Starter: 30 day trial Pro: 30 day trial/3 mths 1/2 price, Ultimate: 1/2 price 3 months Our Sponsors: Finnigan McNeill Property Group YouTube ExpatPropertyStory.com We discuss: Building your own deal analyser Before analysing any deal, it helps to know your goals, circumstances, target return on capital employed (ROCE), time available and appetite for risk. A deal analyser can be built in Excel, or with the help of AI, around your own criteria. More rows do not automatically make a better analyser, so aim for a first pass you can run in about ten minutes. Here is an illustrative example with made-up round numbers, to help if the audio was hard to follow. These figures are for illustration only and are not a real deal. Purchase costs · Purchase price: £100,000 · Deposit (25%): £25,000, so the mortgage is £75,000 · Stamp duty, including the extra 2% for overseas buyers: £7,000 (check current rates) · Solicitor: £1,500 · Mortgage broker: £500 · Survey: £500 · Sourcing fee: £2,000 · Refurb: £5,000 · Capital employed (all the money you put in): £41,500 Annual income and costs · Rent: £9,000 (£750 a month) · Management fee (10%): −£900 · Buildings insurance: −£300 · Maintenance allowance (5%): −£450 · Voids allowance (5%): −£450 · Mortgage interest (£75,000 × 5%): −£3,750 · Net annual income: £3,150 Return on capital employed · ROCE = net annual income ÷ capital employed = £3,150 ÷ £41,500 = 7.6% You may also want rows for tax on your income and for stress testing a best, average and worst case, especially for short-term lets. Analysing the area The three key drivers of capital growth are population, employment and infrastructure, such as transport links and regeneration projects. Former guest James Sproule describes "pretty cities" such as Cambridge, Bath, York, Harrogate and Edinburgh as a good bet for capital growth. Dr Paul Morland's advice is to avoid areas with a declining population, which you can check with the Office for National Statistics (ONS). How to check rental demand Using Property Engine, divide the number of let agreed properties in a postcode by the total of available and let agreed properties. For example, if a postcode has 20 properties available to rent and 30 let agreed, demand is 30 ÷ 50 = 60%. The same formula works for sales: divide properties sold subject to contract by all properties for sale, including those sold subject to contract. For example, 25 sold subject to contract out of 65 in total gives 38%. Former guest Jonathan Rowland won't go near anything under 40%, while others use 50%. Analysing the street and comparables EnglishHousePrices.com shows sold prices in a postcode from Land Registry data, giving you an idea of the street's ceiling price. Lenders are often reluctant to value a property above that ceiling. The ideal comparable is next door, the same size, sold recently and in the same condition, and Property Engine makes checking condition through photos quick. Analysing the property itself Check your figures with two or three local estate agents, and ask what price would achieve a really quick sale. Check the EPC for the rating, size and any non-standard construction, but treat it as a starting point rather than a bible. Google the address, check the local planning portal, and use a VPN if a council website blocks overseas browsers. Location-driven or deal-driven? Sticking to one area makes it easier to build a team, but a deal-driven approach can find bargains faster and adds some diversity to a portfolio. A big discount is always the best way to mitigate risk. Key takeaways · Build a deal analyser around your own goals and target ROCE, and keep the first pass simple. · Move from the area to the street to the property, checking your figures at each stage. · Measure demand with a simple percentage before you buy. · A trusted network of brokers, managers and partners lets you analyse quickly and safely. Resources mentioned Property Engine (use the code expat for a discount), EnglishHousePrices.com, Rightmove, Zoopla, the EPC register, Google Earth, Land Registry, HomeTrack, EIG, Dougal.co.uk, Refurb Calculator and ExpressVPN. Episode 326 on stamp duty, Episode 301 with Tony Walker on estimating refurb costs remotely, and Episode 77 to 79 on the November 2022 deal.

October 11, 2026Episode 3348 min

334: Do I Need a UK Property Tax Accountant If I Live Abroad?

#334 Take our 2 min Survey Once a month, Simon Misiewicz from Optimise Accountants joins us to tackle a UK property tax topic — with one eye always on those of us based overseas. This month we’re looking at what to consider before seeking advice on your UK property investments when you live abroad. If you own UK property and live overseas, the right tax advice depends on more than the property itself. In this month's tax minisode, Simon Misiewicz of Optimise Accountants explains why UK-only advice may not be enough for expat landlords. Your country of residence, tax status, income and investment structure can all shape the advice you need. Take our 2 min Survey Discovery Call Access Resource Library Our WhatsApp group Get in Touch Property Engine discounts (Code: EXPAT) Starter: 30 day trial Pro: 30 day trial/3 mths 1/2 price, Ultimate: 1/2 price 3 months Our Sponsors: Finnigan McNeill Property Group YouTube ExpatPropertyStory.com Do you need a UK property tax specialist? Simon suggests it depends on your situation. If you are a basic rate taxpayer with one or two properties, he argues that a specialist property tax accountant may not be good value for money. He sees more value if you are a higher rate taxpayer or invest through a limited company. Why where you live changes the tax advice you need Hong Kong only taxes Hong Kong-sourced income, so UK rental income is not taxed there. The United States taxes its citizens on worldwide income, wherever they live. Simon gives the example of a UK repair that is a tax-allowable cost in the UK but treated differently in the US, where depreciation applies instead. Spain also taxes its residents on worldwide income. UK tax already paid can be deducted on the Spanish return, but Spain does not recognise the UK's Private Residence Relief. That means selling your former UK home after becoming Spanish tax resident could lead to a much larger tax bill in Spain. Key takeaways · Brief your accountant on your whole tax position, not just your UK property. · Check whether a UK-only adviser understands the tax rules where you live. · If you are taxed in the US, consider a dual-qualified US and UK adviser. · Good UK tax advice can become costly in another country if the two are not joined up. Coming up next month Simon returns to cover the cross-border tax rules that can catch expats out, from tax treaties and inheritance planning to UK pension and ISA benefits. Disclaimer This episode is for general information only and is not tax or financial advice. Tax rules vary by country and personal circumstances, so please take professional advice before acting.

October 7, 2026Episode 33328 min

333: UK Property Auction: The £70k Flat That Became a £210k Refinance

#333 Take our 2 min Survey Would you buy a one bed flat with a short lease, a hole in the roof and the smell of bacon wafting up through the floorboards from the greasy spoon blow? Jess Macaulay host of Phoenix Property Meet did! She picked it up post-auction for £70,000 because no one else wanted it and after extending the lease, fixing the roof and reconfiguring the layout to add a second bedroom, had it revalued at £210,000! She bought it for £70,000, and within four months it revalued at £210,000. Take our 2 min Survey Discovery Call Access Resource Library Our WhatsApp group Property Engine discounts (Code: EXPAT) Starter: 30 day trial Pro: 30 day trial/3 mths 1/2 price, Ultimate: 1/2 price 3 months Our Sponsors: Finnigan McNeill Property Group YouTube ExpatPropertyStory.com We discuss: A Triple Threat UK Property Auction Deal Jess's case study is a textbook example of what Episode 203 guest Jason Patterson calls a "triple threat": adding value by refurbishing, extending the lease and reconfiguring the layout, all on the same property. The flat sat above a breakfast cafe in Chichester, came through probate, and had been struggling to sell on the open market for around 18 months before it went to auction. Jess picked it up post-auction after no one bid on it in the room. Why a Council Freeholder Made the Lease Extension Easy The freeholder turned out to be the local council, which Jess says is often a good sign for anyone looking at short lease flats. She approached them before completing, and they agreed informally to both the lease extension and a deed of variation allowing the one-to-two-bed conversion. The lease extension came in at around £21,000 including fees, and the whole process was, in her words, one of the simplest she's done. Refurbishing a Flat Above a Shop The refurbishment cost roughly £25,000 and took three to four weeks, including moving the kitchen into the living room to create the second bedroom. One unexpected addition was a vapour barrier, needed to stop cooking smells from the cafe below seeping into the flat. Financing a flat above a commercial unit, especially one with external rear-staircase access, narrows the pool of available lenders, so Jess checked with her broker before buying rather than after. Refinancing Without Waiting Six Months Because the works increased the property's value so significantly, Jess used lenders who don't apply the standard six-month ownership rule before refinancing. The flat revalued at £210,000, and a 75% loan-to-value refinance let her pull out all of her capital plus a little extra. It now rents for £1,450 a month to a family. How Jess Finds Deals Other Investors Skip Jess's process starts with Rightmove and EIG alerts across Hampshire, Surrey and Sussex, filtered toward stock that's sat on the market longest or been through the most price reductions. She also watches properties that fail to sell at auction, often negotiating better terms once they go to a post-auction sale. Legal packs get a first review through DocuWise before anything goes to her solicitors, and every deal runs through a deal stacker that accounts for purchase costs, stamp duty, legal fees and finance costs against the expected end value. Are Flats Undervalued in the Current UK Property Market Jess and fellow guest Jay Howard are aligned on this: she's now looking at flats in locations where she'd previously have targeted two and three-bed houses. Not all flats carry the same risk, though, and Jess flags large high-rise blocks with heavy service charges and cladding issues as a different proposition to smaller converted buildings like Victorian mansion blocks. Office for National Statistics figures cited in the episode show average house prices rose nearly 30% between 2015 and 2025, while average flat prices rose under 9%, a gap Jess sees as opportunity rather than warning sign. Key Takeaways Short leases, probate sales and unusual layouts can be genuine opportunities if you can price and de-risk the specific problem rather than avoiding problem properties altogether. Due diligence before exchange matters most: speaking to the freeholder, a lease extension specialist and a mortgage broker all shaped whether this deal was doable. Flats may be undervalued relative to houses at the moment, but the risk varies enormously by building type, so service charges and compliance history are worth checking property by property.

October 4, 2026Episode 3329 min

332: UK Buy-to-Let Hotspot in the North West

#332 Take our 2 min Survey Darren McNeill from our sponsors FMP joins me for our regular North West spotlight, this time on Darwen, and the numbers he shared make the case for a genuine UK buy-to-let hotspot. Once a month, Darren McNeill from our sponsors FMP joins me to look at the North West property market. Darren reports that Darwen showed 8% asking price growth in January 2026, against a UK average he puts at around 1 to 2%. He also says good properties there are selling within two to three weeks, with many going to best and final offers. If you're weighing up where to buy in the North West, this episode walks through the fundamentals behind those headline figures: · Population · Transport links · Regeneration funding · Rents So you can judge for yourself. FMP specialise in simple, straightforward buy-to-lets for under £125,000, operating across the North West and Greater Manchester. Take our 2 min Survey Discovery Call Access Resource Library Our WhatsApp group Property Engine discounts (Code: EXPAT) Starter: 30 day trial Pro: 30 day trial/3 mths 1/2 price, Ultimate: 1/2 price 3 months Our Sponsors: Finnigan McNeill Property Group YouTube ExpatPropertyStory.com We discuss: Why Darwen Looks Like a UK Buy-to-Let Hotspot Darren says the typical asking price in Darwen is around £188,000, which puts it 23rd in the UK for individual town growth. When I asked whether asking price growth translates into sale prices, he said they're lucky to get properties for clients at asking price, and many are going to best and final. He contrasts this with national media coverage, which tends to focus on how quiet the market is. In his experience, the only way clients find out how busy the North West is comes when they try to buy something. It's been 12 to 18 months, he says, since they were last able to secure genuine bargains below asking price. New-Build Developments and Population Growth Darwen's population was around 28,000 at the 2021 census, and Darren expects it has grown since then given the amount of new-build activity. Darren showed me one site with roughly 1,000 homes, and he says there are at least four huge building sites, with more being added. He points out that people moving in from outside the town and buying at £250,000 and upwards bring fresh money and good jobs into the local economy. From £30,000 to £110,000: How Fast Values Have Moved Darren bought his first Darwen property in 2018 for £30,000, renovated it and sold it for £60,000, which he says was the top of the market for a two-bed terrace at the time. Two-bed terraces on the same street are now selling for £105,000 to £110,000. He says the area wasn't at its best back then, with houses up for sale everywhere, until the council introduced landlord licensing and got rid of the bad landlords. Transport Links and Jobs Darwen sits on the M65 corridor, with Bolton about 20 minutes away, Preston about 25 minutes and Manchester Victoria about 40 minutes by car. The town has its own railway station, with services to Blackburn, Bolton, Manchester Victoria and Preston, and trains to Manchester every 30 minutes. Darren says new industrial units are being built and are pulling employment into the area, alongside an existing manufacturing base that includes employers such as Perspex and Crown Paints. £100 Million of Regeneration Darwen secured £25 million through the government's Town Deal, as part of a total investment of £100 million. In July, the council announced another £5 million for the town centre transformation, which has improved the market, library and library theatre. Darren says the market and library alone have had £20 million, and that £100 million is a huge investment for a town of 28,000 people. Rents and Yields Darren says rents have risen 5.3% over the last 12 months, with the average two-bed achieving £660 and three-beds around £780. FMP manage 50 units in Darwen, and Darren owns four himself. Their current two-bed rents range from £650 to £700, and their three-beds from £800 to £825. Recent examples include a £90,000 three-bed terrace returning £800 a month and an £80,000 two-bed terrace returning £675. Darren thinks people moving from Bolton, where purchase prices and rents are significantly higher, will keep pushing prices and rents up in Darwen. Key Takeaways Darren's view is that population growth, new-build development, transport links, jobs and regeneration funding all point in the same direction for this part of the North West. Buyers shouldn't assume they can offer below asking price: Darren says many of the properties FMP buy for clients are going to best and final. Movement of people from nearby Bolton is a trend worth watching, since Darren expects it to keep supporting both prices and rents.

September 30, 2026Episode 33138 min

331: UK Property Investing: Why Some Towns Will Lose the Population Race

#331 Take our 2 min Survey A rising population is one of the classic drivers of capital growth, alongside jobs and infrastructure. But what happens to UK property investing when a country's population stops rising? Demographer Dr Paul Morland joined me to explain what falling fertility and an ageing population actually mean for where you should and shouldn't buy. Take our 2 min Survey Discovery Call Access Resource Library Our WhatsApp group Property Engine discounts (Code: EXPAT) Starter: 30 day trial Pro: 30 day trial/3 mths 1/2 price, Ultimate: 1/2 price 3 months Our Sponsors: Finnigan McNeill Property Group YouTube ExpatPropertyStory.com We discuss: Why the UK Now Has More Deaths Than Births Britain has had below-replacement fertility for around 50 years, and the UK has now reached the point where more people die each year than are born. Paul sums up the consequences as the "four grays": a shrinking gray labor force, a more conservative gray consumer base, gray investors who favour low risk, and gray government budgets strained by pensions and healthcare. Immigration is currently masking the UK's underlying population shrinkage, but the demand for housing is already changing in nature even before the headline numbers fall. How an Ageing Population Changes Property Demand Older populations mean falling demand for student accommodation and rising demand for elder care and retirement-style housing. More people are also living alone as populations age, which pushes up the number of households needed even where the overall population isn't growing. Paul points out that many older homeowners sit on large family homes for decades, which restricts supply and can push up prices for everyone else. He raises stamp duty, inheritance tax and mansion tax as some of the government levers that influence whether people downsize. The Demographic Trilemma Facing Every Country Paul frames the choice facing developed nations as a trilemma between ethnic continuity, economic dynamism and small family sizes, and argues no country can have all three. Japan has prioritised continuity and small families at the cost of economic dynamism, while the UK and much of Western Europe have leaned on immigration to keep the economy moving. Whichever path a country takes reshapes the make-up and size of households, and with it, the type of property in demand. Why Cities Will Compete for the Same People In a growing population there's enough demand to go around, but Paul argues that a shrinking population turns city growth into a zero-sum game. He points to Munich's strong economy and architecture as reasons it has grown, against East German cities like Halle that have lost over a quarter of their population. Closer to home, Paul sees London and Manchester continuing to pull ahead of other UK cities, echoing the "pretty cities" theme raised by a previous guest on the show. A Simple Local Signal for Property Investors Paul's practical advice is to look past national statistics and study the demography of the specific city or town you're considering. His suggested checklist: are local schools closing down, are elderly care homes opening up, and are shops closing or opening in their place. Those signals, he says, tell you more about a location's trajectory than a single national population figure ever will. What This Means for Expat Investors Paul notes that many British retirees who move abroad tend to return to the UK around age 80, largely for healthcare access and to be near family. For expats who've structured their UK property or tax planning around never returning, that's a trend worth factoring in sooner rather than later. Key Takeaways With a shrinking population, cities increasingly compete for the same residents, so location selection matters more than ever. Avoid areas showing signs of decline: closing schools, rising elderly care provision, boarded-up shops and poor transport links. Many expat retirees return to the UK later in life, which is worth considering in long-term tax and property planning.

September 27, 2026Episode 3309 min

330: UK Mortgage Rates Rise Despite Base Rate Holding at 3.75%

#330 Take our 2 min Survey The Bank of England held its base rate at 3.75% this month, but that didn't stop UK mortgage rates from climbing. Shaz Ahmed of Elan Property Finance joins me for our regular Mortgage Monday update, and the average fixed rate has now crept up to around 5.59%, from 4.9% at the start of the year. If you're assuming a steady base rate means steady borrowing costs, this episode explains why that assumption doesn't hold. Take our 2 min Survey Discovery Call Access Resource Library Our WhatsApp group Property Engine discounts (Code: EXPAT) Starter: 30 day trial Pro: 30 day trial/3 mths 1/2 price, Ultimate: 1/2 price 3 months Our Sponsors: Finnigan McNeill Property Group YouTube ExpatPropertyStory.com We discuss: Why UK Mortgage Rates Are Rising While the Base Rate Stays Put The base rate vote itself was closer than the headline suggests, coming in at 6 to 3, with three members pushing for a rise to 4%. Inflation moved the wrong way too, up from 2.9% in July to 3.1% in August. Shaz points to SONIA swap rates as the real driver behind higher fixed mortgage pricing, even with the base rate unchanged. Lenders are also layering on substantial arrangement fees, which adds to the overall cost of borrowing. A Sluggish Mortgage Market Enquiries and completions are still happening, but Shaz describes the pace as noticeably sluggish. Borrowers seem to be holding off, hoping rates fall or a better deal turns up. That hesitation is shaping deal timelines across the market, not just at the edges. The Hidden Cost of Refinancing Homeowners are reportedly paying an average of £840 more a year when they refinance, according to a Financial Times figure discussed on the show. Shaz explains how this can happen even to borrowers who've paid down their balance and seen their property's value rise. A lower loan-to-value and less debt can still mean an extra £200 to £300 a month once a new fixed rate kicks in. Landlord Registration Fees Under the Renters' Rights Act A new landlord registration database is coming, and it's priced per property rather than per landlord. At £65 per property per year, portfolio landlords will feel this far more than owners with a single let. Registration rolls out region by region, starting in the West Midlands in December 2026 and reaching the South West by August 2027. Shaz expects at least some of that cost to be passed on to tenants through rent reviews. The South Wales Affordability Gap National data suggests rents are outpacing house prices, but the picture on the ground in South Wales tells a sharper story. In Newport, a decent three-bedroom property now starts around £350,000, with four-bedroom homes pushing past £500,000. Incomes in the area haven't kept pace, and that gap is only becoming more visible. A £175,000 Property Bought for £12,000 Shaz walks through a creative deal built around a reassigned purchase lease option. The original option holder sold her position for £6,000 after deciding to relocate abroad. The new buyers are purchasing at the £105,000 option price against a £175,000 valuation, putting in roughly £12,000 once fees are included. A bridging loan against the uplifted value covers the rest, with a light refurbishment and refinance planned after six months. Key Takeaways UK mortgage rates can rise even when the Bank of England base rate doesn't move, so watch swap rates rather than headlines alone. Refinancing costs are catching out even well-positioned borrowers, and it's worth budgeting for an increase regardless of your loan-to-value. Landlord registration fees are coming on a per-property basis, so portfolio landlords should plan for this now rather than at rollout.

September 23, 2026Episode 32945 min

329: UK Expat Property Conveyancing: How to Beat the 135 Day Average

#329 Take our 2 min Survey The average UK property purchase takes 135 days, but a cash buyer who skips every optional check can complete in 24 hours. This episode's guest is Gerard Davis , a solicitor at Talbots Law who spends his working life untangling exactly why that gap exists. We delve into why UK property conveyancing takes so long. And how to speed it up. Take our 2 min Survey Access Gerard's 12 Rules for Better Conveyancing Episode 287: Hidden Problems & Opportunities in UK Property Titles Discovery Call Access Resource Library Our WhatsApp group Property Engine discounts (Code: EXPAT) Starter: 30 day trial Pro: 30 day trial/3 mths 1/2 price, Ultimate: 1/2 price 3 months Our Sponsors: Finnigan McNeill Property Group YouTube ExpatPropertyStory.com We discuss: Speed The delay rarely comes from a slow solicitor; it usually comes from lender instructions, incomplete paperwork, property chains and slow-moving management companies. A lender with 25 pages of requirements can add weeks compared with one that has only 10. Learning the Language of Conveyancing Gerard recommends learning the basic vocabulary before instructing a solicitor: restrictive covenants, short leases, flying freeholds, rent charges, rights of way, adverse possession, easements, exchange, and completion. Solicitors' reports use this language constantly and rarely stop to explain it in plain English. Gerard suggests pasting a report into an AI tool and asking for an explanation simple enough for a second-language learner, then taking the resulting questions back to the solicitor rather than treating the AI's answer as legal advice. Choosing the Right Solicitor Gerard is direct about this: solicitors can make or break a deal, especially one with anything unusual about it, such as delayed completion, a short lease, or works planned between exchange and completion. Job title is not a reliable guide to experience; a paralegal with 15 years in conveyancing may know more than a solicitor who qualified a year ago. For a complicated transaction, Gerard suggests trying to reach an associate, partner or director, rather than assuming a bigger firm automatically means a better outcome. How Lenders Set the Pace In a mortgaged purchase, the solicitor is effectively serving two clients: the buyer and the lender. Different lenders issue very different instructions, and the length of that list has a direct effect on how quickly a purchase can complete. Choosing the right lender for an unusual transaction, and asking upfront what that lender typically raises as an issue, can prevent months of delay later. Front-Loading Your Due Diligence Gerard's central piece of advice is to do as much of the legwork as possible before the solicitor's desk becomes the bottleneck. Downloading the title early and telling the solicitor immediately that a property is intended as an HMO or serviced accommodation can surface a restrictive covenant while there is still time to act on it. He estimates that checking the title at the very start of a transaction, rather than months in, can save four to five months on a deal that would otherwise have fallen apart. A single, concise one-page brief covering the transaction, the intended use, and any known issues gives the solicitor a reference point instead of a scattered email trail. Why Leasehold Takes Longer Leasehold purchases carry an extra layer of work, largely because management companies can take close to two months to produce a management pack. Combined with the lender's own instructions, this is why leasehold transactions commonly run to six, seven or eight months. Building Rapport With Your Conveyancer Sending five emails a day does not speed up a transaction; it adds to an inbox that may already hold hundreds of messages and makes it harder for the solicitor to give an accurate answer. Gerard's suggestion is a single, specific, polite request for a progress summary with a clear deadline attached. The long-term goal is a relationship where one phone call gets something looked at urgently, built through patience and respectful pushback rather than constant pressure. Indemnity Policies and Legal Advice Waivers Gerard pushes back gently on the assumption that indemnity insurance is just a way for solicitors to pad their fees. In his experience, solicitors typically choose the most cost-effective policy available for the situation, and it is reasonable to ask why one is being recommended. He also raises the option of a waiver or reliance letter with the lender, which can in some cases remove the need for a separate independent legal advice appointment. The Expat Angle: Identity Checks and Anti-Money Laundering For overseas buyers, identity verification and anti-money-laundering checks add another layer of friction, and firms do not all handle them the same way. Some accept digital verification, while others still require physically certified documents, so it is worth asking a firm about its process before instructing them rather than discovering the answer mid-transaction. Key Takeaways Learn enough conveyancing terminology to ask focused questions, and use AI to translate a report rather than to replace the solicitor. Judge a conveyancer on relevant experience, not their job title. Front-load due diligence: download the title, flag your intended use, and hand the solicitor a single clear brief at the outset. Choose your lender as carefully as your solicitor, since their instructions set much of the timeline. Build a long-term relationship with a conveyancer you trust, rather than switching firms on price alone.

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