Sixty-two per cent of UK mortgage brokers are actively seeking to expand their overseas client base, despite Government policies proving to be "significant obstacles", RAW Capital Partners has found.

The firm’s survey of 300 brokers revealed that 35% currently work with international buyers on a regular basis, while 60% have noticed an increase in demand from overseas clients in the past five years.

Furthermore, 63% expect this demand to rise or remain consistent in the five years ahead.

Although 62% of brokers surveyed are actively seeking to expand their overseas client base, the majority have said that they are facing "notable challenges" when seeking mortgages for non-UK residents buying property in the UK.

Two thirds (66%) said that the introduction of new Government policies has led to overseas clients requiring more support, particularly in helping them to understand stamp duty reforms and private rental sector regulation.

A further 62% said they feel that there are "too few lenders" that are willing or are able to work with non-UK clients.

Chief executive officer at RAW Capital Partners, Tim Parkes, said: "The demand for UK property from overseas investors remains perennially high, and brokers are clearly responding to this by actively seeking out ways to grow their client base internationally. Indeed, with economic turbulence commonplace across many countries around the world, we’ve seen investors shifting focus to the UK to reap the benefits of its historically strong, stable and resilient property market.

"However, the inability or reluctance of mainstream mortgage providers to lend to non-UK residents, typically because of the extra due diligence required, has left brokers and international buyers in a difficult position. Now, with many brokers expecting interest from international buyers to rise in the coming years, it is more important than ever that the specialist finance sector fills this gap."

---