Offshoreonline, an online mortgage adviser for expatriates, has observed a significant upswing in expat mortgage enquiries, attributing this to the Bank of England’s decision to hold the UK Base Rate steady in November.
At the same time, a straw poll of estate agents conducted by the expat online mortgage broker revealed a steep rise in enquiries during the second week of November, indicating a growing interest in the UK expat buy-to-let market and house buying in general.
The current stability in the UK Base Rate has created a favourable environment for potential buyers of UK buy to let properties in 2024, according to Offshoreonline.
With this positive outlook, expat mortgage holders are presented with a critical decision—whether to opt for a fixed or variable rate mortgage, the firm said.
Guy Stephenson of Offshoreonline said: “As the expat mortgage market continues to evolve, we remain committed to providing expert guidance to expatriates navigating the complexities of the UK property market.”