“We have seen a steady interest from overseas buyers, mainly from the Far East who are seeing some value is UK property prices that have slowed in recent months. They are also benefiting from a weaker GBP,” said Guy Nyirenda, director at Altura Mortgage Finance.
Alongside this broader international activity, he pointed to more targeted movement from the US for either work or lifestyle purposes, a trend echoed across the expat lending space.
Asked about the types of clients coming through, Stuart Marshall, of Liquid Expat Mortgages, said there was a mix. “All of these are showing interest in purchasing in the UK – mainly Americans who have relocated to the UK with work, who are looking to invest in a UK home as opposed to paying rent.”
However, as those clients move beyond initial enquiry, structural friction begins to emerge, particularly around lending, tax and cross-border regulation.
“Although there are challenges lending to US nationals due to the rules the US Government imposes on worldwide reporting of all income etc for US nationals and residents which deters some Private Banks onboarding them as clients,” Nyirenda said.