Key Post: Property Investment in UK

Re: Property Investment in UK

In fairness, it is obvious that nobody can predict the future. However that should not be used as an argument to dismiss all comment (particularly independent comment, backed by research & facts) on the prospects of future growth or regression. (i.e. the perceived conditions, positive and negative) Ultimately economists make a healthy living from doing this sort of thing on a professional basis, so there must be some sort of basis to it.

That is not to say that we can predict the future with any certainty - as I have said before on these pages the trick is to compile as much research as possible before making investment decisions in order to try to reach as clear a picture as possible of likely future events and to make whatever deductions are warrantted on that basis.
 
Re: Property Investment in UK

Ultimately economists make a healthy living from doing this sort of thing on a professional basis, so there must be some sort of basis to it.

Actually, I wasn't being totally facetious. That we cannot predict the future with any degree of accuracy or confidence doesn't seem to be obvious to many people. I would disagree with the premise above.
 
uk investment

Baucus, please let the board here know how you get on viewing + possibly buying the property in England. I am thinking of doing the same, as the property market here in Ireland , and especially Dublin , is clearly over inflated.
 
Property Investment in UK

Hi Folks,

Thanks to fangs for your advice which I am taking on board.

I viewed some properties in the stg£80k region. All 3 bed semis in an area about 20 minute walk from city centre. Rents in the area are said to be about £550 monthly but letting agents websites are advertising houses there for £450 per month.

The most popular area at the moment seems to be Hulme which is close to University and hospital. Prices are around £90k to £100k here and seem to sold quickly. Rental demand seems good at around £550 for a 2 bed. The area is close to Mossside and would not appeal to me but then I dont intend to live there.

Quality here is as fangs suggests in city centre area. Lowest prices seem to be in the area of stg£120k for 1 bed.

I feel that it is important that one have deposit enough so that rental income covers loan repayments and agents fees therefore avoiding FX charges.

If one goes for "quality" then one has to consider if it would be better to look for something at home, outside Dublin of course.



Still thinking..............
 
uk houses

i live in dublin and own property in newry, my brother is a developer there.if you wanted to invest in sterling why not try the north
 
Property investment in U.K.

If you are able to contemplate investment of say £150k upwards, consider commercial investments. The UK banks sold off a lot of their branches some years ago with usually a 13 year leaseback and many commercial companies, i.e woolworths, dixons, are doing likewise. Agents Healey Baker hold an auction of these properties every few months and their catalogue can be obtained by dialing 00 44 1159 469 740. Worth checking out.
 
.....

Hi,

Excellent suggestion Rodfreelander :)

As it happens, I've had reason to spend a lot of time looking at some of the Healy Baker offerings & I overall, I think they are very very good.

Generally, a catelogue is issued every two - three months, illustrating 50 - 60 properties to go for auction about 1 month later. Banks, Insurance Cos, Petrol Companies, Retailers are all listed regularly as tenants of the properties for sale (most sale & leasebacks).

Given the quality of the covenants etc the investments are easily Banked in most cases ..... so someone with a GBP£100k lump sum, may soon find they can borrow a further GBP£275k plus & acquire a much stronger investment.

Important to note that stamp duty is only 4.75% in the UK on this kinda commercial investment, so costs overall will land about 6%.

regards

G>
 
Letting agent in Glasgow

Hi, I'm thinking of investing in Glasgow and was wondering what mgt company you are using? Cheers. DB
 
Re: Letting agent in Glasgow

This probably doesn't belong in this thread, but to answer your question...... I did a search on the net and found a linkwith e-mail addresses for about 15 letting agents in Glasgow. I sent off a generic mail, providing details of my property and basically requesting what the letting agents could do for me in terms of price and service and asking general free advice.

Of all the responses this guy zone lettingseemed the most professional and proactive. The companies fees were the lowest of those surveyed (£150 tenant finding fee + 10% of monthly rent). He waived the £150 admin fee when I asked him to.

I am at the stage now where I have a prospective tenant to move into my property when it's complete next month. I don't have to pay any money until the tenent is happily sleeping in the apartment, so I'm not exposed yet.

Another thing is that he tends to deal with corporate tenents, so city centre high spec apartments are his forte.

I better qualify the above by saying that I have no experience with what they're like managing my property yet.
 
Letting in Glasgow

Thanks Fangs for the swift and useful reply. Just getting used to this site so sorry about the incorrect placinf of the query.
 
Manchester info anybody?

Hi Baucus,

It's been a while since you posted here re. Hulme. Did you decide what to do. I'm curious because I'm looking there at the moment and would love to hear how you got on. Did you learn anything that influenced your decision either way?

Regards,

Ronan.
 
Re: Manchester info anybody?

Sorry to bring back up this topic from the middle of 2003 but I was wondering about the implications of buying a property in Manchester. Specifically I was wondering about the taxation implications.

What are the CGT rules for any gain on a property. Is the original cost index linked? What rate of CGT would be applicable?

Also, from an income tax point of view, what rate of income tax would be applicable? Is mortgage interest offsettable against the rental income? If the mortgage is taken out from an Irish Bank (say First Active) against the property how would this work?

Any help would be appreciated.

Regards,

Almost 30
(must change my name as I hit 30 before xmas)
 
Re: Manchester info anybody?

I believe CGT is not chargeable to non UK residents. Tax is however payable in country of residence. If you lived in New Zealand for instance this rate is zero. For Ireland the rate is 20%.

Income tax is also payable in country of residence afaik. Regular tax allowances apply.

You can release equity in Ireland for finance, but most people would source UK financing as the rate is not much higher, and you largely eliminate currency risk. Example; you put 20% down, sterling loses 20% against Euro, you've now lost all your equity.

May I qualify the above by saying I'm by no means an expert and the info above should be professionally verified.
 
Re: >>Property Investment in UK

I have bought in the Uk in July 03, best move I have ever made, I bought a 5 bed house for £85000 with a guaranteed rental income 0f 9,350 £ each year, even if no one stays there also in 6 months the houses is gone up in value, My friend and I are off to Manchester to buy again tomorrow.
Regards.

If looking for any futher info reply to this message.
 
Re: >>Property Investment in UK

Hi Dripsey - Who or what organisation is nice enough to guarantee your rent for you?
 
houses in Manchester

The English government guarantee the rent for me.
 
Re: houses in Manchester

Tell us more - Is this the UK equivalent of the Irish health board rent supplements scheme? How long is the rent guaranteed for?
 
uk investment ?

Yes, tell me more, I would be interested to know as well.
About a year ago, I considered buying a uk residential investment from a firm who puts half page colour adds in the Irish property paper pages. Have prices moved up much ?
 
.

my two cents: i think baucus could be making a good move, property in the north of england is still a good deal. the only issue is finding a decent management company and this is not hard to do: the one with the highest volume of properties on their books is a good place to start. i picked a poor (cheap) company run by part-timers a few years ago, ditched them when the lease renewed found another company and never looked back.

Take a look at Leeds. New financial centre of the north, good university, and new tram by 2007!
 
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