Since the end of last year, the expat mortgage market has seen much more activity in both new and re-mortgage applications.
The UK property market continues on an upward spiral albeit slower than years gone by and still offers potential longer-term growth and security. Expats are always keen to secure property in the UK and this year is no exception as applications for new mortgages are at an all-time high.
Most experts believe these high activity levels will remain for the foreseeable future, with all the uncertainty expats want a UK foothold.
Confidence in the UK market has grown again since the turn of the year due to interest rates still being held after the threat of increases.
What does the future hold in store for expats?
This is a difficult market to predict in the long term, but if the past is anything to go by then UK property will hold its own and increase in value. Whatever happens with the pandemic property values are more than likely to remain strong. Several factors control prices, the main ones are listed below:
- Supply and demand currently supply only meets 47% of the demand.
- Mortgage interest rates are low and affordable.
- UK economic growth is currently strong, and the outlook is stable.
So looking at the key factors the housing market looks in good shape for the future. Of course, situations can change very quickly, not to mention Covid-19, but on the whole, the UK property market looks to be in a very healthy state especially if the supply does not increase.
Should you require any assistance with your new or re-mortgage please call one of our fully qualified independent consultants and we will be happy to assist.