Homeowner confidence in the market hit its lowest point in two years in December, with one in three expecting property prices to fall this year and 92% believing that mortgage financing is no easier to obtain now than it was three months ago.
Mark Harris, Managing Director of Savills Private Finance Limited said: “A number of Private Banks offer mortgages to overseas buyers. Savills Private Finance operate in this area and deal with all Private and Offshore Banks. A buyer may take a mortgage because he needs one or for tax purposes (remitting funds to the UK can trigger tax).”
He also said that transferring money from abroad was a straightforward exercise and that many buyers could also protect against currency fluctuations by forward booking the exchange rate.
Coupled with a newly regenerated interest from European investors, the UK housing market, and in particular London property, continues to attract investors from the Asian market.
By Katie-Jill Rowland
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