October’s gross mortgage lending to expats has increased by 4.85% from the previous month, this is the third month on the run. In addition to the month on month increases lending this year has increased 18.67% overall.
Property continues to gain value in the UK albeit at a reduced rate, this looks like continuing for the foreseeable future unlike the rest of Europe which seems to of stagnated.
There are two factors that has contributed to this strong growth, the first being the number of re-mortgages completed and the second is the Brexit situation.
Both expats and UK residents are living in the fear that interest rates are about to jump early next year. These fears are justified as already a good many long-term fixed rate deals have been withdrawn from the market but there are still some very attractive deals on offer.
Value for money
The UK property market still offers remarkable value for money if you own a property or can afford to buy one. Anybody who has owned a property in a good area of the UK over the last 10 years would have seen their investment grow substantially.
Traditionally the UK property market has always offered good value long term investment potential and there is no reason to believe this won’t continue long into the future. The only unknown factor is what will happen after the Brexit talks conclude and how any deal will affect the housing market.
At present with low inflation, strong wage growth, falling unemployment and very competitive mortgage deals on offer the housing market will remain strong.
If you are in need of assistance with a mortgage then call our expert advisers who are waiting to help.