The majority of brokers (62%) are “actively seeking” to expand their overseas client base, according to new research from RAW Capital Partners.
This is despite only 35% of brokers currently already working with international buyers on a regular basis.
Based on a survey of 300 UK mortgage brokers, 60% of respondents said they had noticed an increase in demand from overseas in the past five years.
Brokers are now bullish as a result, with 63% expecting this demand to rise or remain consistent in the five years ahead.
Despite this optimism, brokers highlighted several concerns to RAW Capital Partners.
Two thirds (66%) of brokers noted how new government policies had led to international clients requiring more support from brokers - in particular around stamp duty reforms and PRS regulations.
Additionally, 62% of brokers feel there are too few lenders willing or able to work with non-UK clients.
Tim Parkes, CEO at RAW Capital Partners, commented: "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.
"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.”
