Expat property buyers optimistic after UK election result, reports Offshoreonline.org

WANDSWORTH, U.K. - May 13, 2015 - PRLog -- Expats are once again looking forward to the traditionally busy pre summer house buying period after a number of threats have been removed from the UK buy to let market, following the Tory victory in the UK general election last week.

Whilst the shadow of a mansion tax was never really an issue for the majority of overseas UK expat property buyers, according to expatriate international mortgage (http://www.offshoreonline.org/) brokers Offshoreonline.org, the recent bounce in sterling is far more welcome. Guy Stephenson, a spokesman for international mortgage brokers Offshoreonline.org said, “We have seen a significant increase in interest from expats in both the Middle and Far East over the last year. As sterling has risen against the euro, so house prices in Europe have effectively been cut by up to 15% as the exchange rate has moved from around 1.20 euros to the pound to today’s 1.40 euros to the pound.

At the same time, the US dollar has risen significantly against both the euro and sterling, making house prices more affordable for expats paid in US dollar pegged currencies such as the case in the Middle East. The strength of the dollar, allied to a weak European property market has effectively cut prices by at least 20% in popular property hotspots such as France, Spain, Italy and Portugal.

Meanwhile, in a further boost to the market, expat mortgage rates (http://www.offshoreonline.org/uk-mortgages/) in both sterling and euros have fallen. Offshoreonline can offer sterling interest rates for UK buyers from 3.53%, whilst for euro buyers, rates can be as low as 2.10% for a10 year fixed rate and 2.70% for variable rate French euro mortgages (http://www.offshoreonline.org/euro-mortgages/), with Spanish and Portuguese rates around 1% higher.

For information on UK sterling and euro mortgages, please visit www.offshoreonline.org.