Skipton International has seen a significant increase in UK mortgage completions from 2020 to 2021, with the largest rise coming from EU residents, increasing by 97% from £13.5m to £26.7m.
In addition, the Guernsey-licensed bank has seen the biggest individual country rise from residents of Hong Kong – both expats and foreign nationals – with an 86% increase to the previous year.
Recently released research claims that over the last five years the UK buy-to-let sector has increased by around £239 billion. The worth of the buy-to-let sector was analysed by reviewing the level of privately-rented stock across the UK. This was then compared to values during 2017 to uncover changes over the past five years.
The findings show that based on current market values within the UK rental sector, the current value of the UK’s buy-to-let stock is £1.7 trillion.
Roger Hughes, business development manager at Skipton, said: “The UK is viewed by many as a solid, stable jurisdiction and many global investors are looking to the UK residential market.
“In 2019 we extended our UK mortgage proposition to include applications from overseas non-UK Nationals and we are now seeing soaring interest from a range of nationalities resident in countries around the globe.”