This article has been written exclusively for Expat Network by Skipton International
Amid so much uncertainty, it makes sense to invest your money in what you know best. For many British residents who have left the UK, this means buying property in areas that you know well and where you have confidence in the performance of the rental market. Buying property in the UK also allows expatriates to forge closer ties with their homeland, creating a secure long-term investment should they ever look to return.
Skipton International has been servicing the banking needs of British expatriates for many years, so understands the struggles they face when it comes to long-term investment options. It launched its range of mortgages for British expatriates in 2014 in response to the difficulties many British expats faced securing loans on investment property in England and Wales. Following enormous success, it announced in March that it would be extending this to include the purchase of buy-to-let property in Scotland.
Scotland’s rental market is growing with average rental returns in some areas outperforming the rest of England, with Edinburgh having been identified as the city with the fastest growing house prices in the UK. The average value of homes having risen by 7.7% over the last year to January 2018, compared to only a 1.6% increase in London.
Nigel Pascoe, Director of Lending at Skipton International, said: “Property lending for British expatriates is an area we consider to be underserviced, and in particular there are only a handful of lenders that will lend on Scottish property to British citizens aboard. As an offshore lender, we have become specialists in servicing the expatriate market and feel that our buy-to-let packages could particularly appeal to those wanting to purchase Scottish mainland properties, as well as those in England and Wales.
“Our goal is to make purchasing investment property in the UK as easy as possible for British expatriates, providing competitive rates and fast turnaround on approvals, all with friendly and personal guidance.”
Skipton remains one of only a few lenders that continue to embrace the expat community, investing heavily in the enhancement of its products and services for British expat customers. To make purchasing buy-to-let property in the UK as easy as possible, the Guernsey regulated bank has increased lending loan limits, provided mortgage and remortgage packages and will also accept applications from self-employed customers.
Through its online mortgage calculator at www.skiptoninternational.com/expat-mortgage-calculator, customers are able to obtain an estimate of how much they may be able to borrow, tailored to individual circumstances, with an in-principle decision available online or over the phone. With an ongoing commitment to its expat customers, it is little wonder that Skipton International has become the first port of call for those looking back to the UK for property investment.
|PR Contact:||Laura Morel|
Skipton contact: Nigel.Pascoe@skiptoninternational.com