Digital, Sharia-compliant bank Nomo has expanded its property finance offering to international clients purchasing property in Scotland.
The proposition will be open to clients from the Gulf Cooperation Council (GCC) countries.
The move follows research from the lender, which showed Glasgow was attracting these clients because of low property prices and investment opportunities.
The study carried out by Nomo and Rightmove showed GCC clients had an interest in property in both rural and urban areas of Scotland, such as Glasgow, Edinburgh and South Lanarkshire.
Further, figures from Halifax showed that Scotland had one of the highest rates of house price growth across the UK, indicating an investment opportunity.
Layla Hamidian, head of property finance sales and servicing at Nomo, said: “Since we launched in 2021, we’ve seen growing demand among brokers for finance for Scottish purchases. We’re pleased to now be able to respond to this demand and bring Scottish property investment to our brokers and clients.
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“Scotland’s housing market is buoyed by strong fundamentals, with robust sales activity, steady price growth, and broad-based buyer demand. So, whether buyers are looking for a new build in Inverness or a Georgian townhouse in Edinburgh, our business development managers are ready to help GCC residents tap into this growing market.”
