Britons who have retired abroad could now take advantage of the UK buy-to-let market with new expat options announced by lender Skipton International.
The offshore bank, which is registered in the Channel Islands, announced its first expat buy-to-let mortgages last year, but will now extend their availability, to also take applications from retired British expats. Applicants must be under 70 and have a pension income of at least £40,000.
Director of lending for Skipton, Nigel Pascoe, says: “This is a really positive addition to our mortgage portfolio, we know that there are many retired expats with good pension incomes who are looking to diversify their portfolios with a buy-to-let property back home.
“Our mortgages have already been well received by expats working abroad. Now those enjoying retirement away from Britain can also invest in bricks and mortar in England and Wales to take advantage of the long-term price inflation in the property market there.”