New research shows
Enquiries for buy-to-let mortgages from British expats investing in the UK have doubled since 2016.
Skipton International (Skipton) has seen a big increase in mortgage enquiries from British expats in the first five months of this year, compared to the same time last year.
The number of enquiries from Asia has increased by 141 per cent in the period from January 2017-May 2017, compared with the same period last year.
There has been a 162 per cent increase in enquiries from British expats in Hong Kong, while the number of mortgage enquiries from Singapore has grown by 115 per cent.
Nigel Pascoe, director of lending, Skipton International, said: “Since Brexit, we have seen growing numbers of British expats looking to invest in UK property. The devaluation of the Pound has meant that expats with foreign currency savings could potentially get more for their money.
“This ‘Brexit effect’ has been particularly marked for currencies such as the Hong Kong dollar, that are pegged to the US dollar. As Sterling has slid against the US dollar, the number of enquiries has increased.”