Expat successful mortgage applications are up from 2020, a new report has highlighted.
It also seems that expat first-time buyers are the ones with the most activity. Over two-thirds of mortgage applications by expat first-time buyers were successful in the last four months of 2020.
The average number of expat enquiries has also risen dramatically this financial year as expats looking to get a foothold on the UK property ladder.
Even with all the uncertainty around the world, the UK property market is still seen as one of the most lucrative. The majority of working expats living abroad always want to retain and add to their UK property portfolio as markets in other European countries simply do not return the same profits.
Rising levels of mortgage enquiries, applications, and completions show that a significant number of expat first-time buyers are still both willing and able to get a foot on the UK property ladder.
UK property values remain stable which is a testimony to the long-term potential growth this market offers. Even with all the uncertainty in Europe and the UK, the market remains resilient and profitable, which is why expats see this area as good financial security.
Mortgages are not as easy to obtain as in the past but there are still good options open to the new investor and people wanting to re-mortgage.
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