TSLE: ‘Demand from overseas buyers set to grow’

If Brexit hits the pound, property will be cheaper and more appealing to buyers based overseas, Mark Posniak, managing director at Octane Capital (pictured) said in his presentation.

On the other hand, if sterling strengthens the UK will be seen as a safe haven for foreign investors in a ‘win, win’ situation for this part of the market, he added.

This “huge growth area” means it is a good time for advisers to “set out your stall” to cater for the increased demand from overseas buyers, according to Posniak.

He said there is a particular opportunity in relation to the large number of buyers from Hong Kong looking to relocate in the UK.

For brokers interested in growing overseas clients, the issues are similar to UK-based borrowers.

However, there is some enhanced due diligence on the borrower to understand where their wealth comes, Posniak added.

Advisers will need to make sure funds are clean and identify where these funds are coming from.

Earlier on the first day of TSLE, delegates heard how there were big growth opportunities across different segments of the specialist market.