FOR IMMEDIATE RELEASE
November 26, 2024
A dramatic spike in interest from Americans researching life and real estate in the UK has been recorded following the recent U.S. election, according to new data from UK Expat Mortgage. Google Trends data analysed by the firm reveals significant increases in searches for terms like “move to the UK,” “living in the UK,” and “UK real estate” in the weeks following the election on November 5.
The surge reflects growing unease among U.S. residents about potential political and economic instability, with many exploring options to relocate across the Atlantic.
Searches for “Move to UK” in the United States
Searches for “Living in the UK” in the United States
Searches for “England Real Estate” in the United States
Political Shifts and Expat Aspirations
The data reveals a clear trend: searches for “move to the UK” rose sharply post-election, with interest levels increasing by over 100% compared to pre-election averages. This trend is mirrored in other search terms such as “living in the UK” and “England real estate,” underscoring not just curiosity but a genuine consideration of relocation.
“Historically, we’ve seen spikes in interest around major political or economic events, but the post-election increase this year is exceptional,” said Luther Yeates, Head of Mortgages at UK Expat Mortgage. “Americans are clearly seeking stability, and the UK—offering familiar language, cultural ties, and a robust property market—stands out as an attractive option.”
A Growing Trend
The interest in UK real estate isn’t just speculative. UK Expat Mortgage has seen an uptick in inquiries from U.S.-based clients looking to secure financing for properties in the UK. According to Yeates, “The UK property market has long been a safe haven for international investors, and now we’re seeing more inquiries from U.S. citizens. From London flats to countryside cottages, there’s a demand for homes in all regions.”
Buying Property in the UK as a US Citizen
There aren’t any legal restrictions as a US resident and citizen compared to being a UK citizen.
Obviously, the legal process of buying a home is quite different to the US system, which can be a learning process for some (it’s recommended to use a good estate agent and solicitor, and a specialist mortgage broker if you require a home loan), but other than that, it’s surprisingly straightforward – you’re very welcome to buy property in the UK.
If you do need mortgage finance to make your purchase:
- you’ll need to use a UK lender not a US bank
- you don’t need a visa for a UK mortgage, and you can be a US resident and citizen and still be eligible
- you can qualify for a UK mortgage using USD earnings (and because USD is a strong currency, you’ll be able to borrow more compared to some other currencies)
- you’ll generally need at least a 20% deposit (down payment)
- and you can borrow up to 4.5x your salary (keeping in mind that USD income will be docked about 20% to account for currency fluctuations)
- and note that if you’re buying a rental property, affordability is based on the projected rental income not your salary..
About UK Expat Mortgage
UK Expat Mortgage specialises in helping expats and international buyers navigate the complexities of securing UK property financing.
For media inquiries: contact@ukexpatmortgage.com