LLNH Property Investors Views
London’s streets may not be paved with gold but they are still providing a road to riches for local investor property investors like Mr & Mrs Cheung in Singapore. The Cheung’s tell me that investing in property across the capital is both profitable and a relatively hassle-free process.”The yield forecast is not wonderful. What’s fantastic is capital appreciation backed by strong economic fundamentals of job creation, people coming into the UK to work.”
Their first buy was a one bedroom property in Bromley nearly a year ago, which fetched a gross rental yield of about 4.9 per cent. The apartment bought it for about £360,000 and sold for around £430,000 only eight months later. He found prices had mostly run up too high in other cities while the USA was just too far away to control and rental agents prices were very high, lowering yield considerably.
Dominic Swinfield added “The reservation fees and exchange cost is usually about 10 per cent, with 5 to 10 per cent more paid one year later and many of our buyers reassign properties making smaller profits before they have to source a mortgage for completion”. Income tax is paid annually but is “user friendly” and can be submitted through the HMRC’s electronic submission system and property management is taken care of by LLNH which makes the process very smooth.
Another investor, Mr To, from Hong Kong, says finding a tenant has never been a problem through LLNH. “The immediate lack of a capital gains tax for overseas investors so far makes it a very nice arena for the overseas investor but this may change next April. Low management fees from LLNH have pushed our yield up considerably and we are in the process of buying two more units from Dominic presently outside London in Birmingham and Manchester”.
For more information on LLNH (London Land and New Homes Ltd) please call our London office on +44 203 515 0023 or email us at: firstname.lastname@example.org
Property management, property sales, overseas investors, new builds, lettings, rentals and property launches.