UK Brokers See Rising Demand from International Property Buyers

LONDON, UK — An independent survey shows that while only 35% of UK mortgage brokers frequently work with non-UK resident buyers, a significant 62% are looking to expand their international client base. The study, which surveyed 300 UK mortgage brokers, highlights a growing interest in overseas investments in the UK property market.

Over the past five years, 60% of brokers have reported an increase in demand from international clients. Furthermore, 63% expect this trend to continue or even grow in the next five years. This optimism exists despite several challenges faced by brokers when assisting non-UK residents in purchasing property.

Sixty-six percent of the brokers indicated that new policies implemented since the Labour government took office have increased the demand for broker support among overseas clients. The complexities introduced by recent stamp duty reforms and private rental sector regulations have prompted many to seek professional assistance.

Tim Parkes, CEO of RAW Capital Partners, commented on the situation, saying, “The demand for UK property from overseas investors remains perennially high, and brokers are clearly responding to this by actively seeking out ways to grow their client base internationally.” He emphasized the significance of the UK’s stable and resilient property market, particularly amid global economic turbulence.

Despite heightened demand, Parkes noted that many mainstream mortgage providers are reluctant to lend to non-UK residents. He explained, “The inability or reluctance of mainstream mortgage providers to lend to non-UK residents, typically because of the extra due diligence required, has left brokers and international buyers in a difficult position.”

As international interest in UK properties is expected to rise, Parkes stressed the importance of the specialist finance sector in addressing these gaps in the market. “Now, with many brokers expecting interest from international buyers to rise in the coming years, it is more important than ever that the specialist finance sector fills this gap,” he remarked.