Against a remarkable increase in UK mortgage completions from 2020 to 2021, Skipton 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 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 (according to research conducted by Octane Capital).
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, according to research by Rightmove.
Roger Hughes, Skipton’s Business development Manager, said: “The UK is perceived internationally as a solid, stable jurisdiction and many global investors are looking to the UK residential market as a safe bet. 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.”
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.
