The Guernsey-based lender Skipton International says there’s been a surge in interest in UK buy to let mortgages from overseas over the past year.
The bank saw a 34 per cent increase in enquiries from residents of the EU in the period January to May 2021 compared to figures from August to December 2020. In contrast, there was a 16 per cent increase during the same period for the rest of the world.
Skipton International’s mortgage offering is available to British Expats and Foreign Nationals purchasing BTL property in the UK.
The largest percentage increase came from the EU, with Hong Kong and the UAE also proving popular jurisdictions.
The increase came against the backdrop of Brexit and a reduced number of UK-based lenders supporting EU residents. Skipton’s mortgage proposition, the UK Stamp Duty holiday and the sharp demands within the UK rental market are also contributing factors, the company claims.
Roger Hughes, business development manager of Skipton International, says: “We have some of the most attractive UK buy to let mortgages on the market for Expats and Foreign Nationals.
“This year the demand has continued to grow and we will be exploring ways to make our mortgage proposition even more attractive, allowing more overseas residents to access the UK property market for long term investment purposes.”
Want to comment on this story? If so...if any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals on any basis, then the post may be deleted and the individual immediately banned from posting in future.