International mortgage customers find security in London

Tue, 02 Aug 2011
Overseas international mortgage customers might be wise to look at the London market, after it was called a "very secure" place for foreign investors to place their money.

While the UK capital may be an expensive place to buy, the reward for those who take the plunge is the knowledge that they are safeguarding their finances by entering a robust and resilient housing industry.

London Central Portfolio claimed the city is a great place to purchase a home, with head of investment Hugh Best noting that domestic and international mortgage customers are likely to keep demand high for years to come.

He explained that European investors looking for secure opportunities are likely to be drawn to the economic and political stability offered by London.

"We expect to see above-trend growth in the coming years," the expert said.

"That will be buoyed by the fact that sterling is still very weak compared to a lot of countries, our cost of debt is very low and there is a lot of foreign money coming in because people see it as a safe haven asset where they can park their money during a volatile economic environment."

According to new data from Knight Frank, the prime London property market has seen prices increase by 9.6 per cent in the past 12 months.
 
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