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Skipton International receives 130% increase in expat mortgage enquiries


Skipton International has received over £500m of expat mortgage enquiries for UK buy-to-let properties in the first seven months of the year.

This represents a 130% increase compared with the same period in 2016.

Just under a quarter (24%) came from British expats in the United Arab Emirates (UAE).

The other four top-ranking countries for expat enquiries were the USA (12.5%), Hong Kong (9%), Singapore (7.5%) and Switzerland (6%).

The offshore savings bank launched its UK mortgages in 2014 in response to the problems many British expats faced securing loans on investment property in England and Wales.

Nigel Pascoe, director of lending at Skipton International, said: “…Enquiries from all of the top five countries have at least doubled in size.

“Despite changes for buy-to-let landlords – such as the phasing out of interest rate relief – buy-to-let investments have continued to prove popular with [a] growing number of British expats looking at ways to secure long-term investments in the UK."

“Online enquires make up a significant part of our business, with [a] growing number of expats choosing to find out about what they can borrow through our online mortgage calculator.

“Being able to get an agreement in principle straight away online makes it easier for potential investors to plan their purchase from anywhere in the world."

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