Skipton International is hoping to build on strong demand for its buy-to-let mortgages to British expats seeking to invest in England or Wales, by launching the expatriate mortgage proposition in Scotland.
Skipton International’s buy-to-let mortgages on Scottish properties will be on the same terms and conditions as its existing proposition for England and Wales.
Rental prices in Scotland increased by 5.5% in February compared to the corresponding month a year earlier, the latest HomeLet Rental Index shows.
With a typical return of 4.8% a year, Scottish property offers more than the average rental returns of 4.4% in England & Wales.
Nigel Pascoe, director of lending at Skipton International, said: “Property lending for British expatriates was always an area we considered to be underserviced, and in particular there are only a handful of lenders that would lend on Scottish property to British citizens aboard.
“As an offshore lender, we have become specialists in servicing the expatriate market and feel that our buy-to-let packages could particularly appeal to those wanting to purchase Scottish mainland properties, as well as those in England and Wales.
“This is about building on our success as a mortgage provider and making it that little bit easier for expatriates to make long-term investments, particularly in areas that they know well.”