Residential

While most UK mortgage brokers are keen to grow their customer base internationally, finding suitable lenders and dealing with the complexities of government policy are proving to be significant obstacles when taking on non-UK clients, new research from RAW Capital Partners has found.
The Guernsey-based specialist lender commissioned an independent survey of 300 UK mortgage brokers. It found that while just 35% “frequently” work with non-UK resident buyers, over three fifths (62%) are actively seeking to expand their overseas client base.
More than half (60%) of the brokers surveyed said they have noticed an increase in demand from overseas in the past five years, while 63% expect this demand to rise or remain consistent in the five years ahead.
However, RAW Capital Partners’ survey also found that brokers face notable challenges when seeking mortgages for non-UK residents buying property in the UK. For instance, two-thirds (66%) of brokers said the introduction of new policies since the Labour government came to power have led to overseas clients requiring greater support from brokers, particularly in helping them understand stamp duty reforms and private rental sector regulation.

Additionally, 62% of UK mortgage brokers feel there are too few lenders that are willing or able to work with non-UK clients.
Tim Parkes, CEO of RAW Capital Partners, said: “The demand for UK property from overseas investors remains perennially high, and brokers are clearly responding to this by actively seeking out ways to grow their client base internationally. Indeed, with economic turbulence commonplace across many countries around the world, we’ve seen investors shifting focus to the UK to reap the benefits of its historically strong, stable and resilient property market.
“However, the inability or reluctance of mainstream mortgage providers to lend to non-UK residents, typically because of the extra due diligence required, has left brokers and international buyers in a difficult position. Now, with many brokers expecting interest from international buyers to rise in the coming years, it is more important than ever that the specialist finance sector fills this gap.” More

Some 44% of office buildings in the US are seen as outdated and in need of investment, analysis from commercial real estate firm JLL has found.
This compares to 34% in Europe, as some countries are ahead of others in terms of decarbonising commercial stock.
New York, Washington DC, Paris, Chicago and London are particularly behind, where JLL estimated you’d need to spend between $242 to $320 billion to bring them up to date.
Cynthia Kantor, CEO, project & development services, at JLL, said: “The commercial real estate landscape is at a turning point as property owners and cities look to establish long-term viability of existing buildings and districts, in the face of evolving experiential and spatial preferences, increasing regulatory pressures, climate risk and changes in real estate demand.

“By proactively assessing and addressing outdated and at-risk buildings, owners can unlock significant value, create a more sustainable, resilient built environment and drive future returns.”
JLL said public authorities that focus on regeneration of specific major building are making a big difference, given that it attracts workers back to office-heavy business districts, and serves to revitalise neighbourhoods for visitors and residents.
Phil Ryan, research director at JLL, added: “The full potential of existing assets, both those nearing the end and earlier in their lifecycle, can only be realized through collaboration between stakeholders and by considering how various levels of obsolescence interact
“Owners and cities should assess how their portfolios holistically fit into their respective built environments and how a variety of factors contribute to their ability to respond to changing locational preferences and new sustainability and development regulations to create future value.” More

Global News Archives – PropertyWirehttps://www.propertywire.com/category/news/global-news/ UK & International Property News ServiceTue, 13 Apr 2021 20:50:51 +0000en-GB hourly 1 https://wordpress.org/?v=6.6.2Barings Announces £250m Real Estate Mandatehttps://www.propertywire.com/finance/barings-announces-250m-real-estate-mandate/ Wed, 14 Apr 2021 06:00:45 +0000https://www.propertywire.com/?p=26227Barings has announced a £250m real estate debt mandate with The Phoenix Group for its matching adjustment portfolio. In partnership with Phoenix, Barings will build a […] More