Skipton International says it’s seen “remarkable growth” in the Buy To Let mortgage market for expats, with completions skyrocketing in comparison with the previous year.
The Guernsey-licensed bank says last year completions in the BTL sector were up 60 per cent on 2020’s figures.
This notable rise in completions came as the UK property market saw a major increase in the number of titles - residential, commercial and 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.
Skipton’s business development manager Roger Hughes says: 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.”