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Once you have made the decision to invest in a property you need to identify your preferred lender. You can obtain a 'mortgage in principle' from your chosen lender even before you have chosen your property - this will indicate how much they will lend you and will help to speed up your mortgage application once you have made an offer on a property. A Financial Forecast highlighting costs and projected income is included for each property on our website. This data enables clients to make informed decisions before proceeding with a purchase. You will need to have a deposit of at least 30% of the purchase price of the property. The Total Cash Outlay required, as summarised in the Financial Forecast for each recommended property, must be considered. This figure is calculated as a deposit of 30% of the assumed purchase price plus the estimated update, the Stamp Duty and the Set Up Costs.
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RDA is able to provide guidance through the mortgage application process. We can also recommend an established accountancy and tax consultancy practice with specific expertise for overseas investors in the UK property market.
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