International investors’ interest in the UK buy-to-let market is starting to increase once more, according to a new Liquid Expat Mortgages report, mainly because of the weak value of the pound.
The company, which works with clients in over 30 countries, claims that there has been a 20% year-on-year rise in the number of expats and foreign nationals in UAE who are buying property in the UK, with the vast majority targeting property outside London and the South East, where values are generally cheaper and rental yields significantly higher.
According to Liquid Expat Mortgages, the growth in investors from UAE is partly down to the availability of a wider selection of mortgages designed for working expats and foreign nationals, which offer interest rates as low as 2.74%.
In addition, many international investors are also attracted by the UK’s robust legal system for property acquisition, which makes it one of the easiest places in the world to buy property.
“There is plenty of legislation in the UK to protect property buyers and the process is straight forward, compared with many other parts of the world,” said Stuart Marshall, managing director of Liquid Expat Mortgages.
“There has never been a better time to buy a property in the UK,” he added. “Think tanks are suggesting that the scrapping of stamp duty for first-time buyers will push up prices. It is uncertain if this will be a reality, but whatever happens, the UK remains one of the best places in the world to buy property.”