Many high street banks turn them away
Skipton International is emphasising its support for EU expats and residents, at a time when many banks are showing a diminished appetite for doing business with them since Brexit and the pandemic.
Legislative changes for UK banks have made it more difficult for them to continue business within the EU, but Skipton International seemed undeterred in providing its services to EU-based customers, especially those from countries recently excluded by many high street banks.
The Guernsey-registered lender has customers in over 100 countries across the globe and specialises in buy-to-let mortgages and savings accounts.
Initially, it only offered UK buy-to-let mortgages to British expatriates. More than three years ago, it extended its buy-to-let mortgage proposition to include applications from non-UK nationals residing overseas.
Read more: Skipton International extends UK buy-to-let mortgages to foreign nationals.
“Skipton International are phenomenal lenders for our foreign-based clients offering competitive pricing to an extensive list of countries, especially in the current Brexit climate,” Yemi Arole, mortgage consultant at broker Knight Frank Finance, said.
“Skipton are reliably a first choice for international clients looking to purchase or refinance their buy-to-let properties,” he added.
Nick Morrey, of finance broker Coreco, echoed Arole’s statement, noting that the Channel Island bank provides an invaluable expat option in what is often considered to be a difficult sector to place business in.
“I am keen on them due to their extensive knowledge of expat buy-to-let requirements and broad ‘where in the world’ list of countries, including within the European Union – from where many lenders have withdrawn,” Morrey said. “Their direct access to underwriters makes life much easier and quicker, especially with the relatively complex nature of expat lending.”
