At the end of February, the UAE was dropped from a global watchdog’s list of countries they have deemed at risk of illegal money flows.
Liquid Expat Mortgages have worked with expats and foreign nationals in Dubai since 2007 and know first-hand some of the difficulties that these buyers face when dealing with the UK mortgage market.
Another benefit of the UAE being removed from the financial crime watchlist is how it will help UAE residents to buy UAE properties if they already own a UK property.
It makes a lot of sense for UK property owners to utilise their existing property equity to fund a UAE property purchase.
The UAE was removed from an international financial crime watchlist providing a huge boost to UAE expat and foreign national investors.
— Stuart Marshall
MANCHESTER, GREATER MANCHESTER, UK, March 14, 2024 /EINPresswire.com/ — UAE Dropped from Financial Crime Watchlist
‘There has recently been some important news regarding the UAE and its status within the global community’ says Stuart Marshall, CEO of Liquid Expat Mortgages. At the end of February, the UAE was dropped from a global watchdog’s list of countries they have deemed at risk of illegal money flows. The Financial Action Task Force (FATF) placed the UAE on its ‘grey-list’ for countries considered risky in 2022, highlighting the country’s risk of money laundering and terrorist financing. Great efforts have been made internally to get off the FATF’s grey list, with the Gulf country strengthening its anti-money-laundering efforts in a bid to bolster confidence in the country and attract more money from other countries and investors. ‘This is a huge win for the region’ says Stuart Marshall ‘and will do great things to further bolster the UAE’s growing international standing.’
How Does This Influence Expat and Foreign National Investors?
‘Liquid Expat Mortgages have worked with expats and foreign nationals in Dubai since 2007 and know first-hand some of the difficulties that these buyers face when dealing with the UK mortgage market. Being removed from this international watchlist also removes a massive barrier for expats and foreign nationals trying to get a UK mortgage product. Firstly, there will be far less scrutiny for UAE residents trying to buy a property in the UK. In turn, this will mean that there are a wider range of lenders open to lending to customers based in the UAE. This is a huge boost for the UAE’s investors who will have access to many more product options and better rates. It’s obvious why this will be welcome news for investors based in the UAE – better rates and a wider range of available products can massively contribute to the quality and success of an investment venture. To find out how much a mortgage would cost, try using the mortgage calculator on our site.’
‘Another benefit of the UAE being removed from the financial crime watchlist is how it will help UAE residents to buy UAE properties if they already own a UK property. We have had a number of customers contact us about buying their dream property in the UAE by utilising their existing property’s equity in the UK. This will now be far easier with the lower level of scrutiny and the increased availability of re-mortgage products open to UAE residents. For UAE residents that already own a UK property, re-mortgaging a UK property can provide access to cheaper finance options compared to what’s available in the UAE, with lower interest rates and overall finance costs. With an expert mortgage broker like Liquid Expat Mortgages, it’s also easier to negotiate competitive repayment terms like lower fees and longer repayment periods.’
‘It makes a lot of sense for UK property owners to utilise their existing property equity to fund a UAE property purchase. By leveraging this equity, it allows access to larger loan amounts and maximises purchase power in the UAE. It also means that UAE residents are able to take advantage of favourable foreign currency exchange rates, potentially increasing their purchasing power and minimising their risks. Having equity in a UK property is an asset, which can be utilised via re-mortgaging. This can also be a beneficial way for investors to diversify their investment portfolios since, by investing in the UAE, they are diversifying their portfolio geographically. Spreading investments across different markets can reduce risk and enhance returns. Re-mortgaging is a great way to do this without having to find additional capital from other sources.’
A Long Time Coming.
‘At Liquid Expat Mortgages, we have worked with investors in the UAE for a long time. Because of this history, we know what a valuable role UAE-based investors play in the global marketplace. We’re thrilled to see the FATF’s decision to remove the UAE from the financial watchlist. It’s going to do wonders for those investing in the UK market from the UAE, removing the unnecessary scrutiny that they have been subjected to and opening up a whole world of mortgage products and opportunities.’
Liquid Expat Mortgages
Suite 4b, Link 665 Business Centre,
Todd Hall Rd,
Haslingden, Rossendale
BB4 5HU
Phone: 0161 871 1216
www.liquidexpatmortgages.com
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Originally published at https://www.einpresswire.com/article/695925176/uae-based-expat-and-foreign-national-investors-given-huge-boost-in-uk-investment-property-hopes
