Foreign lenders clearing up in high-end BTL market

HMF’s mortgage specialist, Gary Festa, says the market for £1m plus loans has seen a number of foreign banks swoop in as UK lenders reduce their presence. Banks such as Handlesbanken, Kleinwort Benson, Bank Leumi and EFG Bank are plugging the gap British lenders have left behind, according to Festa. “Current market conditions have given rise to tremendous buying opportunities, and now we have a situation where foreign investment banks are swooping,” he says. “A recent example is Handelsbanken, which has just agreed to offer a client up to £2,000,000 at 1.4% above bank base, initially ...