UK market momentum maintained, reports Offshoreonline.org
Banks and building societies lent £16.6 billion in home loans last month , up 28% on a year earlier, as signs of a broad based and “healthy” recovery take hold, according to the Council of Mortgage Lenders today.
The CML does not believe a short term boom is evident in the market, rather it feels talk of one is a healthy sign of the market recovering in general.
In other data released by the Land Registry, London house prices are up 6.3% in the year to July, but rises in other parts of the country are far more modest, with some areas such as the North East, North West and Wales still slipping back. The South East is up 1.5% in the year to July, suggesting the London effect may be starting to spread. According to the UK office for National Statistics, London prices rose 9.7% over the year to July, helping to push the value of homes across England to a new high of £255,000 on average. The Office for National Statistics uses a mix adjusted average to calculate house prices, whilst the Land Registry uses actual house sale data, including cash sales.
House prices in London and the South East both raced past their 2008 peaks and stood at an average of £438,000 and £303,000 respectively, while prices in the East of England and the South West also edged close to their previous highs, according to the ONS.
Tim Harvey of expatriate international mortgage brokers Offshoreonline.org said, “We are certainly seeing a lot more enquiries now and there is a broad based interest from expats who are looking to buy in all the major cities including Edinburgh and London and regional centres such as Oxford. For those buying a house where family may eventually live, 80% mortgages are once again available, which is enormously important.”
Highlighting Newham and Lambeth, up 0.7% and 11.4% respectively, property search consultants Expatfindaproperty.com are reminding buyers of the importance of location for those expatriates wanting to start or add to buy to let portfolio.
« Back to News
Latest News
- Great time for US dollar earners and US residents to invest in European real estate
- Good news for expat UK house buyers, as expat mortgage rates start to ease
- Falling house prices, high mortgage rates – should UK expats buy a house now?
- The 5 cheapest cities for first-time buyers
- Why getting a mortgage in France is now so much easier for buyers from the USA than the UK
- Green shoots appearing in UK property market, good news for expat house buyers
- UK Housing asking prices see smallest February increase on record
- Optimistic signs in expat buy to let market as mortgages rates fall and prices stabilise
- Expat UK property investing: Three positive signs, thinks broker
- Expat buy to let market still strong after two rate rises, says broker
- Recovery and strength in the UK housing market for 2022?
- Expat broker optimistic on post Covid UK buy to let housing market
- Broker warns over mortgage payment holidays
- Buying UK buy to let property after lockdown – expats will have the upper hand, thinks broker
- Expat lenders react to keep expat mortgage deal flowing during COVID-19 crisis
- Coronavirus impact on UK housing might be short lived, thinks expat mortgage broker
- Getting a mortgage whilst living abroad or getting a mortgage after you have moved abroad.
- What Happens when my UK Expat Mortgage Expires?
- Buy to let bargains abound, thanks to Brexit effect, thinks broker
- Expats increasingly vulnerable to new build deposit loss
- UK house hunters lead 6% growth in French non-resident property transactions
- Expat Buy to Let Mortgage Rates Cut Again
- Brexit fears give expats the edge, as UK buyers shun property
- Mortgage tax changes in Spain help buyers
- Expat mortgage broker predicts banks will not pass on full Base Rate rise to mortgage holders.
- Falling Expat Mortgage Interest Rates and Weak UK Housing Market Favour Expat Buyers
- UK property beats pensions, says UK official study
- Taxes for UK expat landlords might not be so hard after all
- Why a sinking pound need not scupper your French property dream
- Is it time to add UK university fees to your expat mortgage?
- Resurgent Spanish property market prompts new mortgage launches
- The new landscape for UK property investors – still good value
- New UK Buy To Let Rules Will Impact Expat Property Buyers – 2017
- UK rent rises continue to outstrip inflation, expat buy to let remains popular
- UK Stamp Duty hike not as harsh as first feared for expat property buyers
- Do I qualify for expat or international mortgages?
- Brexit need not harm the expat mortgage market, thinks Offshoreonline
- UK stamp duty changes, capital gains tax changes will impact expat buy to let investors, so start planning your checklist now
- Booming London property rents continue to attract expat buy to let landlords
- New UK Stamp Duty Won’t Dent Appeal of Buy To Let Mortgages For Non UK Residents
- QE spells heaven for overseas property buyers in Europe
- Thinking about buying a house in 2015? For expats, the signs are good
- UK property prices on the up in 2015 good news for expat buyers
- UK Stamp Duty changes – the winners and losers
- French expat euro mortgage rates fall again
- New house price index to make life easier for French euro mortgage house buyers
- New Spanish government figures point to gentle housing market recovery
- Buyers forced out of London by spiralling property prices have helped fuel a 10% annual rise in asking prices in the south-east – a rate that has now outstripped inflation in the capital.
- UK student loans – plan now for flexibility
- Landlords enjoying “record income from letting