Overseas Mortgage Enquiries up 50 Percent Since Brexit

Overseas buyers mortgage enquiries have risen 50% since the Brexit vote.

International property investors are expected to flood the UK and take advantage of favourable buying conditions by snapping up a wide range of homes across the country, according to a new report.

The demand increase from buyers abroad is to be expected, with Sterling making a sharp fall, making it cheaper for overseas funds and private buyers, Various reports have even suggested vendors are willing to make the cost of sale even cheaper by reducing the asking price.

In reference to reports the pound has substantially weakened since the Brexit vote. It is down approximately 11.5% against the dollar and 10.5% against the euro. This makes it a very attractive investment to buy property in the UK with a foreign currency.

Some UK sellers are nervous in the aftermath of Brexit, in this case they are eager to reduce the asking price of their properties, especially for overseas buyers who tend not to be part of a chain.

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