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The UK is made up of 3 countries, England, Wales, Scotland and one province
Northern Ireland. It has a population of approximately 66 million people.
Property in the UK falls into two categories residential and commercial
and we deal with both.
Things to Consider When Buying Properties
in the UK
Tax in the UK
Taxation consultants can offer friendly and impartial advice on
how to deal with tax and other related issues surrounding your property
acquisition. Most countries around the world have a tax system that imposes
tax on your investment so it will always be a good idea to review your options
first, whether for budgetary purposes or just providing pure peace of mind.
Tax Issues in UK Individuals tend to acquire property primarily for investment
purposes and seem to take a long-term view that the property may well form
part of their retirement portfolio. Most are often unaware that if they
rent the property to fund the mortgage, any profit realised after the deduction
of any allowable expenses will be potentially liable to tax.. Mortgage
in the UK
Remortgaging is the process of moving your mortgage to a new
lender, or changing to a new mortgage with your current lender, without
moving home. A full range of mortgage types are available for remortgaging.
A common reason for remortgaging is to take advantage of the fierce competition
in the mortgage market and obtain a more competitive interest rate. Whether
a remortgage is the right way forward, you should take into account a
number of potential costs that you may incur as a result of remortgaging.
- Valuation fees
- Loan arrangement fees
- Solicitor/legal fees
- Early redemption penalties
Fixed Rate Mortgage
With a fixed rate mortgage the monthly repayment amount is fixed for a specified
period. The fixed rate remains constant irrespective of changes to the Bank
of England's base rate or the lender's standard variable rate. The fixed
rate period typically last for two to five years, although it can be longer.
An early redemption penalty will apply should you wish to cancel your mortgage
before the end of the fixed period.
Variable Rate Mortgage
With a variable rate mortgage the monthly repayment amount is based on the
lender's standard variable rate. The lender's variable rate is based on
the Bank of England's base rate and will consequently move up and down.
Standard variable rates vary from lender to lender but are typically 2%
above the base rate.
Discount Rate Mortgage
A discount mortgage has an interest rate where a discount is applied to
the lender's standard variable rate for a set period, usually from six months
to several years. As the lenders standard variable rate moves up and down
by the same amount, with the differential between the two remaining the
same.
Base Rate Tracker Mortgage
Tracker mortgages follow changes in the base rate, with a constant differential
being maintained between the base rate and the mortgage interest rate. A
lender's standard variable rate will typically be around 2% above the base
rate. A fall in the base rate will not always necessarily be followed by
an equivalent fall in the standard variable rate. However tracker mortgages
tend to have a similar difference above the base rate, down to around 0.75%
or even lower, and they are guaranteed to rise and fall with the base rate.
This means if the base rate. This means if the base rate raises your monthly
payments will rise. If the base rate falls your monthly payments will fall.
Some mortgage lenders will offer different tracker rates depending o the
amount you are borrowing as a percentage of the value of your home (LTV-
Loan to value). For example, 0.75% above the base rate may be offered for
a mortgage with an LTV of 80%. Alternatively, 1.5% above the base rate may
be offered for a mortgage with an LTV of 90%.
Cash Back
Mortgage
A cash back mortgage is one where a lump sum is paid to the mortgage applicant
on completion of the mortgage. It is a scheme that is offered alongside
other mortgage products. The cash can be used as you wish.
Repayment
Mortgage/Principle and Interest Mortgage
With a repayment mortgage, also known as a capital repayment mortgage, you
make monthly payments which contribute towards the total amount borrowed
and the interest payable. Repayment mortgages are repaid over a specified
period. Assuming you continue to make all your monthly contributions in
full, the mortgage is guaranteed to be paid off in full at the end of the
arranged mortgage term. During the early years of the mortgage, the majority
of each monthly payment goes towards paying the interest owed. The amount
paid off the capital each year increases as the mortgage term progresses.
Interest Only Mortgages
An interest only mortgage requires you to make monthly payments to the mortgage
lender to cover the interest being charged on the amount borrowed. If the
investment growth rate exceeds those estimated at outset you may be able
to pay off your mortgage early or enjoy a lump sum at the end of the repayment
period, in addition to paying off your mortgage.
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Properties in United Kingdom
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Bradstowe House
Harrow on the Hill
Sherwoods Real Estate is delighted to offer Bradstowe House, a stunning,
contemporary landmark, comprising a total of 178 luxury apartments.
Situated in desirable Harrow, the accommodation comprises a mix of
one, two three and four bedroom apartments. This represents a fantastic
Buy-to-Let opportunity for investors seeking London opportunities.
Prices start at just £220,257.
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Queen Mary’s Place
London SW15
Sherwoods Real Estate has pleasure in offering a unique development
of new and refurbished homes set around the stunning Grade I listed
Roehampton House. The classical Baroque landmark provides a breathtaking
backdrop for the St Mary’s Place development of one to five
bedroom apartments and houses. A great opportunity for serious investors
in the desirable location of London’s SW15.
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Enterprise Place
Woking, Surrey
Sherwoods Real Estate is delighted to offer a special investment opportunity
in what is considered one of London’s best commuter belts. Enterprise
Place, situated in Woking, enables you to have the best of both worlds,
the Capital’s vibrant lifestyle with the escape to the stunning
Surrey countryside. The development offers a selection of studio,
one and two bedroom, town-centre apartments for sale – ideal
for the Buy-to-Let investor. This is a highly desirable rental area.
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Parkwest
West London
Offering 1,2 & 3 bedrooms, is this beautifully landscaped apartment
development, Parkwest. These well designed properties start at £194,950
and include a residents gym, 24 hour concierge and private parking.
Located in West London, just minutes from Heathrow and tube links
to Central London, makes this development ideally located for comuters
to London and International stop overs.
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Duke Street
Machester
• Historic Setting
• High Quality
contemporary Design
• Approx 3 minute walk to Deansgate
Station.
• Concierge.
• Basement Parking.
• Terrace or Balcony to most apartments.
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Glasgow Harbour Phase II
Glasgow
Glasgow, with a population of around 600,000 (and 1,745,000 in the
Metropolitan Region) is Scotland's largest city and its commercial
capital. Is currently jostles for position with Manchester as the
largest retail centre outside of London. Glasgow is easily accessible
by air, road and rail and as one of Europe's top 20 financial centres
is home to many of Scotland's leading businesses.
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Westminster Bridge Park Plaza
London
An opportunity to investment in one of the most desirable locations
in London . . . A dramatic new landmark for London Westminster Bridge
Park Plaza will create a spectacular new visual impact at County Hall.
It will also create unparalleled opportunities for those wishing to
invest in any one of its prestigious apart hotel suites or upper floor
terraced penthouse parliament suites. The specifications, location
and the infinite magnitude of investor advantages make this development
truly unique.
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