I know a few people are worrying about mortgage interest rates and are hesitating buying property because of that so let’s put the increases it in perspective. There are loads of complex and jargon-heavy articles in the financial press but we’re busy this time of year so this is a simple guide to what has been happening and why it’s not as bad as it may look.
UK property has a great deal of potential as an investment and it is easier to get into than you might think, with lower starting prices and plenty of benefits.
Read on to find out why UK property could be good for you.
When a new Prime Minister takes office, it is usual for them to want to put their own stamp on things and Liz Truss and her team are doing just that. Kwasi Kwarteng, the current Chancellor of the Exchequer, has made a few announcements today, a mini-budget if you will, or an oddly named ‘fiscal event’ according to the government.
As has been the case in recent years, many measures have already been announced or deliberately leaked so this was largely about clarification.
This article is a brief overview of some of the main points with particular reference to any changes that have relevance to those living outside of the UK and especially in the GCC. The UK press will cover many points in detail but many of the points will not be directly relevant to expats so this article focuses on the points that will be most relevant to us.
EDIT. As this mini-budget went down so poorly, and did such dmanage to UK financial markets, Kwazi Kwateng was replaced by Jeremy Hunt and many of the announcements have since been rescinded so I have commented under each section to clarify. Added comments are in italics.
Join us on Wednesday 27th April at 1pm UAE time, for a presentation about a property investment opportunity that will complete soon. Tenant enquiries are already being taken so this is a good option for anyone who wants to complete a purchase in the next few months.
If you miss the date, let me know as the presentaton is being recorded.
I have written about options for UK property investment a few times and in most cases these are off-plan developments with completion some time ahead. I know a few clients would prefer quick completion so I would like to share details of an opportunity that fits that requirement
In an uncertain world, it is understandable that we have seen an increase in interest in investing in property. It is human nature to want to put your money into something that you can see and touch.
Property markets are not equal and the legalities and potential for growth and/or income vary hugely but Europe still presents many opportunities for long-term investment and yield.
Surveys have shown that many expats are keen to invest in property in their home country either as they consider it a more secure place than where they are currently living, or as a potential base should they need to move back.
The UK’s Chancellor of the Exchequer, Rishi Sunak, has presented his Summer Economic Statement, a de facto budget, and this article is an overview of the main points with particular reference to any announcements or changes that are relevant to those living out of the UK.
In an uncertain world, it is understandable that we have seen an increase in property as an investment class. People have always liked investments that they fully understand, or can see and touch. Property markets are not equal and the legalities and potential for growth and/or income vary hugely but Europe still presents many opportunities for long-term investment and yield.
Recent surveys have shown that many expats are keen to invest in property in their home country either as they consider it a more secure place than where they are currently living or as a potential base should they need to move back.
The recent upheavals in work, schooling, lifestyle and more has made many reflect on the lives that they want to lead, and to consider future plans. Initially, I saw an uplift in enquiries for wills and life cover, and while these are still popular, I am now being contacted by people about property investment in the UK and Germany. Fortunately, I can assist with both and you can invest without leaving home.
Breaking news.
It has been announced that the UK Government will shortly be issuing a new consultation document in which it will propose that the rate of Stamp Duty, the tax payable on purchase of a property, will increase further for non-residents who buy in England and Northern Ireland.
No matter what is happening in the rest of the world, interest in the UK housing market remains strong with many people looking to buy a property as part of their portfolio of investments, or as a future home.
For expats, it is harder to obtain a UK mortgage but I work with an excellent mortgage broker with the largest panel of lenders of any broker working with GCC clients
This article is a guide to what you need to know when buying property in the UK and there will shortly be two companion pieces, one about buying in Dubai and another about the tax issues to bear in mind in respect of UK property ownership.
This is a topic I have mentioned in several articles on this website but the final guidance has now been issued by Her Majesty’s Revenue & Customs (HMRC) so we have clarity as to how tax will be applied on the sale of UK properties owned by individuals who are not resident in the UK.