Securing Financial Stability For Retiring Expats.

Securing Financial Stability For Retiring Expats

Expats Living Abroad.

There are estimated to be 5.5m UK citizens living abroad that repatriate to the UK each year. And, with many nations stopping extension plans, this figure is set to rise. There are currently just under 800,000 expat Britons living in EU countries. Millions more live in Asia, The Americas, Africa and the UAE, with many living tax-free. And, repatriating from each of these areas holds its own unique challenges. For most expats repatriating to the UK, the main task is moving their assets and savings back to the UK. In doing so, they must negotiate a complicated UK taxation system. With this consideration in mind, repatriation can often feel like a risk many expats aren’t willing to take. Especially after years of work abroad has earned them financial stability.

One tried-and-tested way of repatriating to the UK whilst maintaining financial security is through the purchase of property. For repatriating expats, buying a UK property secures them a foothold in the UK and enables the safe transfer of their money back to the UK. However, a UK property can also be used as part of a larger investment portfolio which can facilitate financial stability for their retirement. And, maintaining a quality of life and securing financial stability after they retire is a pressing concern for many UK expats working abroad.

A Lack of Retirement Planning From Expats.

A survey by Guardian Wealth Management found that 70% of people in the UAE don’t have any pension or guaranteed savings for their retirement. This is one of the highest numbers of any country in the world. Much of the UAE’s workforce is comprised of expats. And, many of these expats are under the age of 30. The young age-range of the workforce in the UAE is one potential explainer for the low numbers of retirement funds. However, the sooner expats start saving for their retirement, the better. And, with an increased reliance from UAE workers on their end of service gratuity payments, planning early for retirement is the prudent choice by discerning expats.

Another complication for expats looking to retire is market uncertainty resulting from Brexit. Many financial advisers are currently unable to give sound financial advice to UK expats living in Europe. Much of their advice will depend on the exact details of the UK’s deal with Europe. And, for expats trying to secure financial stability for their retirement, relying on pensions is just as risky as relying on an end of service gratuity payment. It’s also possible that British expats living in Europe will have their pensions frozen at their starting rate, as is the practice with many non-EU countries. This uncertainty in the financial landscape only presses the importance for expats of securing a solid financial retirement plan.

Securing Financial Stability For Retiring Expats.

So how do expats ensure that their retirement will be financially secure? As noted earlier, one of the best ways to do this is through purchasing property. With the increasing difficulties involved with transferring your assets back to the UK, it’s never been more important to secure expert advice. An expert mortgage broker, like Liquid Expat Mortgages, examines the specific needs of expats on a case-by-case basis. In eliminating many of the complications, using a mortgage broker like Liquid Expat Mortgages means that buying a property is not only easier, but cheaper too as they can navigate the marketplace to find the best deals.

With many expats lacking a solid financial plan for their retirement, property investment is one of the most attractive options. Especially considering the adverse effects that market uncertainty is having on pensions. In the right areas, the housing market in the UK is booming and is very fertile ground for lucrative investments. This is a good option for expats without a retirement plan who want to secure financial stability for their retirement. It is also a great option for younger expats who want to add another revenue stream whilst still contributing to their comfort in their old age. And, property investment is also a great choice for those expats looking to repatriate to the UK as it can also serve as a permanent residence upon returning to the UK.

Contact us.

Liquid Expat Mortgages is the No.1 Expat Mortgage broker. We have a team of experienced and regulated mortgage consultants, dedicated to helping expats find the very best mortgage deal. We work with over 50 lenders to deliver the best product for your needs. For complete Expat Mortgage Support contact Liquid Expat Mortgages and see how Liquid Expat Mortgages can help you. Just call us 24/7 on +44 (0)161 871 1216 or visit