Expat buy to let mortgage demand continues to grow

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Mortgage & Finance News

May 24

For expats, buy to let mortgages in the UK presents an interesting prospect for many different reasons. There may be the need to acquire...

This escalating interest in joining Britain’s property ladder from UK citizens living overseas, coupled with the strong economy, attractive investment advantages, resilient buy-to-let sector and the fact that expats tend to have a higher disposable income than UK residents, means that investing in property in the UK is extremely appealing.

Skipton International - one of the few lenders that caters to expats - has extended the number of countries it is prepared to accept mortgage requests for UK properties from. Colombia, Costa Rica, Northern Cyprus, Ghana, Mongolia, Senegal, Sri Lanka, St Vincent and the Grenadines and Turkey have all been added to the list so far this year.

Jim Coupe, managing director of Skipton International, said:

“We are delighted to be able to help more British expats secure investment properties in the UK. We launched the mortgages as a direct response to the difficulties expats face securing mortgages on properties in the UK.”

“Demand for buy-to-let mortgages from British expats continues to be strong and by opening up our mortgages to more countries we can continue to give British nationals living around the world the opportunity to invest in property in the UK.”

With recent news that RBS and Natwest are pulling out of the expat mortgage market, coupled with demand being so high there is clearly and opportunity for another UK buy to let lender to step into this niche area and service the ongoing large demand for expat buy to let mortgages.