Speaking on Specialist Lending Solutions TV in partnership with Castle Trust Bank, Kris Corns, operations director at Crystal Specialist Finance, said “more recently, we’re seeing much smaller, foreign investors purchasing within the UK, maybe owning one or two properties. This will typically be new builds or properties purchased off-plan”.
He said these were likely to be ex-pats and teachers working abroad who were “looking to maintain a footprint in the UK”.
Corns said lenders were becoming more comfortable with these scenarios and added that there were options as long as clients satisfied criteria.
He added that this was encouraging investment from people who were not as professional.
Referring to UK investors, Corns said there was growing interest from first-time landlords and those borrowing through limited companies.
He said the boom of limited company borrowing was driven by 2020/21 being the first financial year where changes to mortgage interest tax relief would be felt.
Watch the video below [6.26] featuring Shekina Tuahene, commercial editor of Mortgage Solutions and Specialist Lending Solutions, Robert Oliver, director of sales at Castle Trust Bank, Anthony Rose, director of LDNfinance, Kris Corns, operations director at Crystal Specialist Finance and Richard Merrett, head of strategic development at Simplybiz Mortgages.