March 2020 gross mortgage lending to expats has increased by 5.1% from the month before, this is the fourth month on the run. In addition to the month on month increases lending this year has increased 16.2% overall.
Experts believe these strong figures are down to the Brexit negotiations progressing albeit slowly but positively. There is definitely less confidence in the property values of other European countries. Property continues to gain value in the UK at a steady rate and looks like continuing for the foreseeable future unlike the rest of Europe. Covid-19 has had an effect on the market but the majority of experts believe this will be very short lived.
One other factor that has contributed to this robust growth is the number of re-mortgages completed. Both expats and UK residents are living in the fear that interest rates are about to jump. These fears are justified as already a good many long-term fixed rate deals have been withdrawn from the market but there are still some extremely attractive deals on offer.
UK property offers stability
The UK property market without doubt still offers 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.
It is expected that house price increases will level out as the year goes on with a steady and reliable growth rate, again spelling good news all round.
At present the outlook for 2020 and beyond is very positive within the UK property market, the signs are this will continue for the foreseeable future.
To sum up – traditionally the UK property market has always offered excellent value long term investment potential and there is no reason to believe this won’t continue.
If you are in need of assistance with a new or re-mortgage, then please contact our expert advisers who are waiting to help.