Increase in EU residents buying UK rental property

Against a remarkable increase in non resident UK mortgage completions from 2020 to 2021, Skipton International has seen the largest jump coming from EU residents, surging 97% from £13.5m to £26.7m in the space of just one year.

Against a remarkable increase in non resident UK mortgage completions from 2020 to 2021, Skipton International has seen the largest jump coming from EU residents, surging 97% from £13.5m to £26.7m in the space of just one year.

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.

This coincides with a report that shows rents are rising at the fastest pace ever recorded, while tenant demand has doubled. **

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.

”If anyone would like to find out more, they can do so easily online at: https://www.skiptoninternational.com/uk-mortgages”

London makes up 19% of the UK Buy-To-Let properties as this has the highest total worth of the UK Buy-To-Let sector. The South East of England and cities such as Bristol, Manchester and Leeds are also proving popular.

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*Conducted by Octane Capital

** Conducted by Rightmove