In a new article this week by The National, it’s been revealed that UAE residents looking to buy property in the UK after the country exits the EU can continue to sign up for expatriate mortgages.
It comes after Santander announced it would bar applications from non-residents.
As a leading property buying agent for London, Black Brick’s Camilla Dell shared her perspective on the subject of Middle Eastern investors in UK property, featuring in the article as expecting more lenders to follow in Santander’s footsteps.
“There are still lots of options for expats and international buyers, particularly in the HNW (high net worth) space where Private Banks can take a more flexible approach,” Camilla added.
“The treatment of UAE or Middle East-based clients has not changed markedly for some time and Brexit should not affect this as these clients are clearly outside of the eurozone. EU nationals who recently moved to the UK or are primarily resident in their home countries will be the most affected by these rule changes.”
Read more in the full article here.