Lender sees sharp rise in expat mortgage enquiries

More than £500m worth of expat mortgage enquiries for UK buy-to-let property have been received by Skipton International in the first seven months of the year.

The figures to the end of July 2017 show a 130% rise in enquiries for expat mortgages compared with the corresponding period last year.

Almost a quarter - 24% - of enquiries came from British expats in the United Arab Emirates, followed by 12.5% in the USA, 9% in Hong Kong, 7.5% in Singapore, and 6% in Switzerland.

Nigel Pascoe, director of lending at Skipton International, which is wholly owned by Skipton Building Society, said: “This is an increase of over 130% on total enquiries compared to the same period last year and enquiries from all of the top five countries have at least doubled in size.

“Despite changes for buy-to-let landlords such as the phasing out of interest rate relief, buy-to-let investments have continued to prove popular with growing number of British expats looking at ways to secure long term investments in the UK.”

Online enquires now make up a major share of Skipton International’s business, according to Pascoe.

“Being able to get an agreement in principle straight away online makes it easier for potential investors to plan their purchase from anywhere in the world,” he added. 

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