The UK property market continues to offer stable, consistent investment opportunities to investors around the globe. The market has performed exceptionally well over several decades, with most areas of the UK experiencing respectable house price increases in recent years. Central London has continued to witness the fastest growth rates; however, the focus has shifted to Greater London and other major cities in the UK.
As the UK offers such diverse properties across the country, there are still many attractive investment options to suit most budgets. Additionally, the exchange rate from AED to GBP is particularly favourable at this time (approximately 5.4) and with the increase in UK stamp duty coming in 6th of April 2016, there is added incentive for buyers to secure property before the end of the current UK tax year (5th April 2016).
Once of the challenges for most Non-UK resident investors, looking to purchase in the UK, is the lack of availability of finance. Since the implementation of the UK Mortgage Market Review in 2014, it has become more challenging for the UK banks to lend and many are no longer offering loans to those residing outside of the UK. There has also been an impact on those moving away from the UK, particularly when they move their mortgages from a Residential to Buy To Let status.
At Home Matters we offer mortgages for UK property purchase and refinance for Non-UK residents, with typical Loan to Value ratios of 75%. We have several options starting from GBP100,000 or UAE Dirham equivalent and administer the application process from the UAE.
With the mentioned changes in stamp duty just around the corner, it is a great time to make purchase in the UK, before the cost of acquisition increases. The property transaction process in the UK can take a few months to complete, so anyone wishing to beat the April deadline should contact Home Matters today.
Speak to Home Matters to find out what UK financing is available to you…