Overseas buyers target chain-free properties

Overseas buyers are looking to the UK probate, part exchange and repossession markets for bargain UK properties to invest in, according to Whitehotproperty.co.uk.

Figures from the website, which specialises in selling chain-free property, show that between January and March 6% of its prospective buyers came from abroad.

The majority of investors came from the US, Spain, France, Australia and Germany.

Robin King, director at Whitehotproperty.co.uk, says: “The current strength of almost all foreign currencies against the pound makes property in the UK attractive.

“We are seeing thousands of prospective buyers searching our probate, part exchanged and repossessed properties which suggests a familiarity with the housing market in this country.

“I would predict that many of the buyers are either UK nationals looking to buy property at home or foreign nationals that have spent time in the UK.”