Overseas banks to shake UK housing market

Having been hit hard by the credit crunch, they are extra cautious with who or what they are pretend to lend and banks have used this economic lull to revitalise their balance sheets in the meantime.

And yet, houses are selling in prime locations and they are selling fast. You may ask who is making the most of this mixed market, and the answer is simple; ex-pats and overseas investors are clearing up and the property market is in for a massive shake up.

Ian Clark, MD of Midas Estates, comments:

"We are working with property investors throughout Asia, where they can make the most of the exchange rate and our experience at sourcing prime property at the right price, in the right location."

Midas Estates stay with their clients all the way, from finding the deal, until completion. They believe that overseas banks are set to teach the UK a lesson on how to lend and they too see the customer as king.

With more overseas banks such as The Bank of China coming into the market, there is a massive opportunity in the UK for overseas investors and ex-pats. If you are a bank based outside of the UK, or a foreign arm of a UK branch lending to those overseas (such as Barclays and Lloyds International), then these are very exciting times.

For overseas banks the UK is a good bet with under supply of properties, divorce rates and immigration rates on the rise and a very favourable exchange rate. For those living in the UK, High Street banks have made it virtually impossible for British citizens to build positive property portfolios, but to actually get on the ladder in the first place.

Cornwall is a good example, locals find it difficult to buy property in their area as wages are much lower, but overseas investors have realised the huge potential in the area and are making the most of the opportunities.

At the end of the day, wages in the UK are going down rather than up and until domestic providers start putting the customer first then the overseas investor will be able to take the market share.