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Skipton International reports near doubling in EU resident BTL completions

  • 07/02/2022
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Skipton International reports near doubling in EU resident BTL completions
Guernsey-based bank Skipton International has seen a surge in interest from EU residents buying UK rental property, with completions in 2021 coming to £26.7m.

According to its latest figures, in 2020 there were around £13.5m in completions from EU residents, meaning they have nearly doubled in the space of a year.

The biggest EU resident buyer groups in 2021 were France, Spain, Portugal and Ireland.

Skipton International attributed the growth to a knock-on effect of Brexit, along with the “safety” of the UK.

It added that property prices, especially in regions like the North West, offered great value, and areas like London and South East offered strong rental income.

Completions from EU residents between 2019 and 2020 increased by 68 per cent, and the lender said it envisaged that continuing into 2022 and beyond.

The lender has seen an increase in interest from Hong Kong especially, with completions for both expats and foreign buyers in this territory increasing by 86 per cent year-on-year.

Skipton International cited recent research from Octane Capital which said the UK buy-to-let (BTL) sector had grown by £239bn over the past five years.

It also said the value of the UK BTL market now stood at around £1.7trn.

Skipton International also found that rents had been growing quickly and tenant demand was increasing, making the UK BTL market a good investment.

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.”

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