Oil and gas workers help surge in BTL home loans

Oil and gas workers caused a surge in Scottish ex-pat buy-to-let mortgages in the fourth quarter of 2017, according to new data.

Edinburgh-based specialist loan provider Thistle Finance said the number of Scottish expats applying for buy-tolet loans in the period was more than a third higher than the same quarter in 2016, on the back of a buoyant property market, and new loans with less restrictive criteria.

Thistle Finance MD Mark Dyason said: “There’s a lot of confidence in Scotland’s propertymarketrightnow, and buy-to-let in particular is booming.” He also noted that about two thirds of the applications were from career ex-pats working in the oil and gas industries. “Buy-to-let is the perfect way [for them] to stay on the ladder while supplementing their incomes.”