Skipton International completes 200th UK Mortgage
The offshore bank, registered in the Channel Islands, launched expat buy-to-let mortgages last year and is one of very few providers to offer this product.
Jim Coupe, managing director of Skipton International, said: “There are very few products on the market for UK expats who wish to purchase buy-to-let property in the UK, and demand for this mortgage has been very high since we launched.
“Many of the applicants are first time landlords keen to invest in the UK, along with landlords looking to expand or remortgage their portfolios.
“By offering a straightforward process, an online mortgage calculator and a direct line between applicants and our underwriting team, we are usually able to instruct valuations in just two working days from receiving an application.”
Demand has been high and is still growing, with more than 130 applications in the pipeline.
Since streamlining the application process and opening it up to retired British expats the bank is now completing mortgages at a rate of one a day.
Demand has been highest from Dubai, Qatar, Hong Kong, Singapore, Switzerland and the USA. So far London has been the most popular area to invest in the UK, followed by the South East of England.