Hot pockets
However, not all countries have seen a drop-off in the number of British expats being able to get a mortgage, with certain countries showing a rise in the numbers of Brits snapping up property hotspots in other places globally.
France is still holding up well, says Mr Howarth: "France has seen one of the largest booms in non-residents property investment in Europe in the past 10 years."
According to Nigel Green, chief executive at international advisory firm the deVere Group, there are opportunities even further afield.
He says: “We believe appetite for financing an overseas property purchase with a mortgage has increased.
“Freedom of movement so far in the EU has also helped but we are finding many UK expats purchasing in the Middle East and Thailand, and, increasingly, in China.
“This is often achieved by leveraging from their UK properties to raise capital to buy outright overseas.”
Mr Marshall says many UK expats are looking to maximise leverage and loan-to-values to take the benefit of record low interest rates, including the maximum leverage against a UK purchase or UK mortgage, either to replace an existing mortgage to more competitive rates, or releasing capital to fund purchases in overseas locations, such making an Australian or United Arab Emirates purchase.
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