In addition to this, results from the latest Royal Institution of Chartered Surveyors UK Commercial Property Market Survey shows a rise in investor demand for UK commercial property across all sectors, with 18% more respondents reporting more enquiries in the first quarter of the year.
Foreign investors are attracted to commercial and semi-commercial property in the UK due to the devaluation of the pound and continued favourable conditions for them – such as longer leases – compared to some of our European neighbours.
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We have seen this ourselves at Together, with a significant increase in applications from expats and foreign nationals. British buyers are also looking to make the most of the stability of the market and we’re seeing growth in certain geographic areas outside the capital when it comes to commercial property.
We have seen a lot of interest in commercial mortgages for properties such as independent restaurants, corner shops and takeaways as changes to tax and regulation in the buy-to-let sector have led some residential investors to shift their focus to commercial investments.
Figures from the National Landlords Association also show the proportion of landlords planning to take out commercial loans rose from 10% in July 2015 to 19% at the end of last year.
In good news for brokers and lenders, it’s clear that the demand for fast and flexible commercial funding remains strong, and we’re looking forward to working with even more brokers in the future to help ensure their clients get the best possible outcome in terms of funding their commercial property purchases.
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