Laurence Dollimore
BRITISH expats are going on a buy-to-let spree in Greater London and the south east of England.
New figures reveal 40% of expats’ buy-to-lets are in the UK capital, while 25% are in the pricey south east.
Mortgage lender Skipton International has said they have seen a significant rise in expat investment.
“Property prices in London have increased significantly in the past few years, meaning that capital gains have been very attractive for investors. British expats have many reasons for investing and long term investment is usually the most important,” said Nigel Pascoe, director of lending at Skipton International.
For a while it was almost impossible for expats to buy investment property on a mortgage as they lack a recent credit history and therefore don’t score well on checks required by lenders.
But smaller banks and building societies have begun offering them again over the last couple of years, leading to properties in the UK being bought up by Brits abroad.
Some 35% of expats cited long term investment as their main reason for investing in British buy-to-let property, while another 19% said it was part of their pension plan.
Oh, goody, London rents are going up.
First the Irish got consumed with greed, then came the Americans and the Spanish got the bug badly. Most Brits cannot/will not believe that residential property will never fall. In rerality it will be the biggest crash of the lot – wait and see.
Màybe it’s a buy-to-go-back spree, rather than buy-to-let?
London property prices peaked in 2015, since then there has been stagnation and many reductions. Brexit & Crossrail 2 are the two main drivers of this, prices are rising in areas outside london as middle income families are looking for a better life, investment would be better in areas like Brighton & Hove, Hastings & other SE costal towns where the property prices are very much in the up.
Juan, you are wrong on virtually every point but then you must be Spanish, so this explains everything.
London prices have not stopped rising – check the data, it’s freely available.. Brighton & Hove, where I used to live has had the highest price rises, even outstripping London. Hastings – only an idiot would buy there, it’s even overtaken B&H as the junkie capital of the UK.
Only an idiot goes out after dark in B&H or Hastings – try checking out the Evening Argus, full of up to date info.
Since you are generally very critical of Spain and the Spaniards, wonder why you don’t return to your native England Stuart?
To the ‘brits’ here, learn Spanish and not expect the Spaniards to know English. Get over the notion that those who do not speak English or do so with an accent are any less intelligent.
The undercurrent of your sentiments and ignorant prejudice is not lost the perceptive Intellectual Spaniards.
David Cameron, not only stupid but stealing someone else’s name – does he know. You hav’nt made a single rational comment about the subject matter on this thread. You don’t know me but make completely false accusations, now that really is stupid is’nt it. Having a rant against Brits that don’t speak Spanish is on thing but tonto, that’s not me.
Your having an immature tantrum after throwing your doll out of the pram – now do you have an accurate statement to make about the London/South East/UK housing market because Juan certainly does’nt, well do you?