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HMRC Tax To Deter Foreign Investment In UK

HMRC Tax To Deter Foreign Investment In UK

Estate Agents Warn That New
HMRC Tax Announcement

Will Put Off Willing Overseas Property Buyers

 

The announcement made by HMRC about altering the Government position on taxation of using foreign capital as collateral for borrowings could have a significant impact on the residential market in UK cities, especially London, according one estate agent.

Cluttons’ Head of Residential Development, Julian Briant, reckons that the new rules over the use of foreign capital in order to be able to obtain a loan in the UK will now result in a taxable remittance, making mortgages less attractive for investors hoping to use money held abroad as security.

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UK PRS Expanded By 1 Million Households In 5 Years

UK PRS Expanded By 1 Million Households In 5 Years

One Million More Rented Households In UK
Since 2009 With More To Come

It has been well documented over recent years that there has been a cultural and generational shift towards renting in the UK with “Generation Rent” emerging as the dominant force in the UK property market.

The shift towards the continental style of living in rented property has been largely influenced by the difficulty for people to raise the necessary deposit and finance for property ownership.

CBRE believe that significant activity by UK Buy-to-Let property investors and foreign nationals acquiring property in major towns and cities within the UK has also contributed significantly, and the influence of these interested parties is still growing.

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Weak Economy Gives 

International Property Investors Green Light

Weak Economy Gives International Property Investors Green LightThe surge in Central London property values has failed to deter overseas property buyers who are still actively purchasing available residential accommodation.

Ironically it is the weakness of Sterling (GBP) that has made residential property in the UK capital attractive to international property investors, helping to fuel strong demand for residential property in London from foreign investors, according to one residential estate agent.

As we previously reported in February international property investors are already targeting high rental yields from rental properties in the UK (read full story here)

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There Will Never Be A Better Time To Invest In Property

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