Skipton International has reported growth in the buy-to-let mortgage market for expats in 2021.
The Guernsey-licensed bank and UK buy-to-let mortgage specialist has announced that buy-to-let completions last year were up 60% on 2020’s figures.
This came as the UK property market saw a major increase in the number of titles (residential/commercial property or land) owned by non-UK citizens. According to recent analysis by the Centre for Public Data, the number of titles in England and Wales owned by non-UK citizens has tripled since 2010 from 88,000 to just under 250,000 by August 2021.
Roger Hughes, Skipton’s business development manager, said: “At Skipton, every customer is connected with a personal representative and their direct line so no matter where they are in the world, they’ll have a familiar and friendly expert they can call.
“When confronted with increasing demand for these kinds of property purchases, it makes all the difference that our customers aren’t left in the dark at the early stages of their mortgage application, no matter where they’re based.
“We have an expansive list of countries where residents can apply for a UK buy-to-let mortgage, which is particularly significant post-Brexit, as many UK providers have been withdrawing from this market. Our criteria, rates and pricing are constantly reviewed to ensure Skipton is ahead of the game.”
