Increase in UK buy-to-let mortgage enquiries from British expats in Spain
Skipton International has seen a jump in applications for its buy-to-let mortgages from Brits based in Spain.
The Channel-Island registered bank has received more web enquiries for buy-to-let mortgages from British expats based in Spain in the first three months of 2016 than in whole of 2015.
According to figures from the United Nations, over 319,000 British expats live in Spain, making it the most popular destination in Europe for British expats, followed by Ireland with 249,000, and France with 171,000 British expat residents.
Since launching expat buy-to-let mortgages in 2014 Skipton International has helped over 300 British expats secure investment properties in the UK.
Skipton created the buy-to-let mortgage in response to the difficulties overseas investors face taking out mortgages on rental property.
Earlier this year Skipton opened up the mortgages to self-employed expats and to British expats resident in more countries around the world.
Jim Coupe, managing director, Skipton International, said:
“We have seen a big rise in the number of enquiries for buy-to-let mortgages from British expats resident in Spain. During the first three months of 2016 we received more web enquiries from British expats based in Spain than we received during the whole of 2015.
“Demand for our expat buy-to-let mortgages has been growing steadily since we launched them in 2014 and we have extended our offering, opening the mortgages up to retired, and self-employed British expats, and to British expats living in more countries around the world.”
Skipton International was recently named Guernsey Business of the Year at the Awards for Achievement. The bank has been at least commended by Moneyfacts for the past six years, winning on two occasions while independent research from Feefo shows 97% of customers rate Skipton’s service as good or excellent.