All Topics / Help Needed! / Using Equity from overseas property

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  • Profile photo of JohnJohn
    Participant
    @nasesco
    Join Date: 2015
    Post Count: 2

    Hi Guys! Hoping someone can give me a little advice, cant seem to find the answers I’m looking for on the net. I own an apartment in the UK and house in Ireland. Just wondering if there is a way I can use the equity from one or both of these assets to buy a property in Australia or failing that to invest in precious metal etfs?

    Many thanks,
    John

    Profile photo of Corey BattCorey Batt
    Participant
    @cjaysa
    Join Date: 2012
    Post Count: 1,010

    Best bet would be to talk to a UK based lender – Australian banks aren’t going to touch it.

    Corey Batt | Precision Funding
    http://www.precisionfunding.com.au
    Email Me | Phone Me

    Investment Focused Finance Strategist - servicing Australia-wide

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    Agree with Corey – you’re going to have to look into overseas funding. Perhaps hit up Richard Taylor who spends time in the UK – I think he might invest their too.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Hi John

    Yes very true i have just come back from 4 months in the UK and still own property down in Bournemouth on the South Coast.

    Hate to say if you are an expat and are paid in non GBP there is now NO lender who will lend to you even if you are a UK / Irish Passport Holder.

    I was over there this time on a combination of business / holiday buying property for some forum clients.

    Only way to fund it is thru vendor finance.

    Cheers

    Yours in Finance
    0-40 Properties in a decade. Ask me how.

    Richard Taylor | Australia's leading private lender

    Profile photo of JohnJohn
    Participant
    @nasesco
    Join Date: 2015
    Post Count: 2

    Thanks for the info all. I have lived in Australia for over 5 years now. I read online that if I sell my property in the UK that I’m currently renting out within 6 years of vacating it that I don’t have to pay capital gains tax on the profit. Is this correct? This was my PPOR before I left the UK. Seems too good to be true.

    If I were to hold this property over the 6 year limit would that mean I would have to pay CGT on the entire profit thereafter or just a portion of it?

    Appreciate your help guys.

    John

Viewing 5 posts - 1 through 5 (of 5 total)

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