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Rise in British expats investing in property
| Published: | 1 May at 9 AM |
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The number of British expats looking to invest in property back home has been on the up since the beginning of the year, according to a leading lender.
deVere Mortgages revealed that in the first three months of the year, 75 per cent of all home loan enquiries it had received were made by Brits living overseas, predominantly expats residing in regions such as the Middle East, Asia, the US and Russia.
The group explained that one of the main reason for the surge in interest has been currency charges, with the pound’s weakness versus the US dollar making the UK more affordable than it has been for some time.
Furthermore, the strong economic recovery, a lack of housing within the private renting sector and an increasing demand for rental property are all factors that make conditions for investors “favourable” for expats looking to return to their homeland, according to deVere.
deVere Mortgages UK Head of Financial Planning Kevin White explained that due to “distinct investment advantages” as well as the fact that Brits abroad generally have more disposable income than their counterparts in the UK, they always believed there would be high interest for their products among expats this year.
deVere Mortgages revealed that in the first three months of the year, 75 per cent of all home loan enquiries it had received were made by Brits living overseas, predominantly expats residing in regions such as the Middle East, Asia, the US and Russia.
The group explained that one of the main reason for the surge in interest has been currency charges, with the pound’s weakness versus the US dollar making the UK more affordable than it has been for some time.
Furthermore, the strong economic recovery, a lack of housing within the private renting sector and an increasing demand for rental property are all factors that make conditions for investors “favourable” for expats looking to return to their homeland, according to deVere.
deVere Mortgages UK Head of Financial Planning Kevin White explained that due to “distinct investment advantages” as well as the fact that Brits abroad generally have more disposable income than their counterparts in the UK, they always believed there would be high interest for their products among expats this year.
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