Expats UK property searches increase month on month.
Brits living in countries where the currency is pegged to the USA’s, such as Hong Kong have been attracted to investing in property back in their home country.
What is happening is investors, including expats, are still buying-to-let in Britain. But perhaps focusing on lower loan-to-values and using larger deposits to take the various changes into account. As well as adapting their portfolios and business models to maintain their profitability. For example, by looking at up-and-coming areas across the UK instead of the more traditional rental hotspots like London.
The property portal found that searches for UK property by overseas buyers have grown steadily over the last 12 months. Expats are actively looking to secure buy-to-lets in the UK as demand and profitability increases.
They now account for 8.2% of all activity on the portal in the last three months of this year, compared to just 3.8% a year ago.
It said most expat investors are keen to capitalise on softening prices and a weaker pound.
More expats are choosing independent broker assistance for mortgages advice.
The number of expat mortgages coming through independent brokers has risen steeply over the last 2 years, this figure now stands at 78% 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.
If you would like help with your new or re-mortgage, please make contact and one of our independent advisers will be happy to help.