Investing in the UK

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

UncleDunkle
Member
@uncledunkle
Join Date: 2003
Post Count: 2
October 22, 2003 - 2:16 am
I have just finished reading 0-130, and am extremely interested in starting to invest in positive cash-flow properties.
This is the first book I have read on the subject and am obviously going to investigate my options further. I currently own a house in Wales (UK), which I am renting out (with a positive cash-flow), while I am travelling around Australia.
Basically I have hundreds of questions I’d like to get advice on, but foremostly I’d like to hear from anyone that has been successful in their investing in Britain using positive geared investment. I’d like to know if it is as possible to be successful in the UK as Steve has proved it is in Australia. Also if and what problems I may encounter and have to overcome to start on my property investing, and what major differences there are in the UK system of property purchase and rentals.
Any information and input would be greatly accepted and appreciated
Cheers
melbear
Member
@melbear
Join Date: 2003
Post Count: 2,429
October 22, 2003 - 4:38 am
Hey Uncle
There are a few investors in UK on this forum. Hopefully they’ll be able to give you some specific advice.
I would think that as our laws etc. came pretty much from the UK, that it would be fairly similar in operations across there. The best thing for you to do is find a good solicitor/accountant in UK who can either advise you, or do the research into the exact laws on your behalf.
Of course, the cheaper way is to get some more advice from those UK investors on this forum, and I hope some can help.
Cheers
Mel
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
October 23, 2003 - 1:41 am
Hi Uncle
I still own several properties in the SE of England after emigrating 12 years ago.
I think one of the biggest problems is the level of debt you are confortable with. Remember (if you had forgotten already) that you are borrowing in pounds and not dollars and you don’t get much for your money over there.
The other thing to bear in mind is that the Mortgage Brokering industry is a lot bigger over in the UK than it is in Oz. There are many institutions that offer 100% loans without Post Code restrictions so people you rent do it because they want to and not because they can’t get finance.
Anyway good luck and enjoy your travelling.
Its a hell of a place to live.
Cheers Richard
[email protected]
http://www.fhog.com.au
There is no such thing as a problem.
Just a solution waiting to be found
Richard Taylor | Australia's leading private lender
UncleDunkle
Member
@uncledunkle
Join Date: 2003
Post Count: 2
October 23, 2003 - 1:14 pm
Well, I can do with all the advice I can get Mel.
Richard, I gather there is very little or no call for ‘Wraps’ then in Britain, as there must be few people that have trouble obtaining a morgage. I hadn’t heard of this process before does it actually exist in Britain then?
Cheers
Duncan
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
October 23, 2003 - 9:52 pm
Uncle
Don’t get me wrong not everyone who wants to borrow money for a home can do so but the number of non conforming lenders is considerably more than there is in Oz.
Due to the overall number of lenders competition is stronger and the rates charged above base rate are generally lower. Also the personal loan market is considerably bigger so a lot cocktailing takes place whereby a client may take out a personal loan and use this as deposit for his home loan.
Vendor finance does exist but not in the same format as over here.
Happy travelling and go the Welsh in the RWC.
Cheers Richard
[email protected]
http://www.fhog.com.au
There is no such thing as a problem.
Just a solution waiting to be found
Richard Taylor | Australia's leading private lender