Overseas buyers and expats are sizing up the UK property market for potential bargains, taking advantage of the weak pound and falling property prices, according to the latest figures released
The property portal found that searches for UK property by overseas buyers have grown steadily over the last 12 months. They now account for 6.6% of all activity on the portal in the first three months of this year, compared to just 3.6% three years ago.
It said some investors are keen to capitalise on softening prices and a weak pound and are looking for discounts.
More expats choosing independent broker assistance for mortgages
The number of expat mortgages coming through brokers has risen steeply over the last 2 years, this figure now stands at 71% from 64% last year.
There has been a steady increase in mortgages sold by intermediaries to expat buyers and re-mortgagers as the market remains very buoyant indeed.
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