Mortgage brokers are receiving more enquiries from Britons living and working abroad who fear being priced out of the market when they return.
House prices are predicted to rise by almost a quarter over the next five years, prompting an anxious rush among hopeful buyers.
It is not only first-time buyers who are worried about getting on the property ladder, Expats are among the many groups affected. Mortgage brokers are reporting an increase in the number of enquiries from Britons living and working abroad who plan to return to the UK in the future and who fear being priced out of the market.
Aaron Strutt, of mortgage broker Trinity Financial, told The Telegraph that they have seen a spike of enquiries from buyers living abroad. He said: "British professionals living in Hong Kong, Germany, China, Dubai, the USA and Australia are looking to buy UK property now for their eventual return.
“Demand for property in London and the Home Counties is reaching new heights. “Best buy mortgage rates and increasing house prices are really driving the property market into new territory.”
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December 1, 2013