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Following the Government’s unlocking of the mortgage market last week, Skipton International has returned to remortgage lending for overseas residents wishing to buy property in the UK.

Due to Covid-19 restrictions preventing physical property valuations, Skipton International had previously stopped accepting mortgage applications.

Skipton International will initially be accepting applications for remortgages only, with a maximum loan to value of 60%.

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Roger Hughes, business development manager at Skipton, said: “Prior to the Covid-19 pandemic we were seeing strong demand from overseas residents for our UK buy-to-let mortgages.

“We hope our return to the remortgage market will provide an attractive offering for investors and demonstrate that Skipton is still very much open for business.”

Skipton is monitoring developments and the availability of valuations with an expectation of offering mortgages for UK BTL purchases in the near future.

By Joanne Atkin

Source: Mortgage Finance Gazette

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