Wednesday, 20 February 2008

Want to buy property in the UK as a Foreign National?

So you’ve been in London for a few years now…….and although you are not ready to head off home to South Africa just yet, and you’ve started thinking of buying property in the UK………

1) But where do I start?

2) And is it possible to secure financing with my current visa?

3) And what are the chances of qualifying for a 100% Mortgage?

So, let’s have a look at the FACTS:

Only a small proportion of UK Mortgage Lenders accept applications from Foreign Nationals who do not posses permanent right to reside in the UK:

So, What does this mean in ‘Saffer Lingo’?

- If you are on a 2 year Working Holiday or Student Visa, then aikona you can forget it !!

- If you are on a Highly Skilled Visa or a Work Permit, then LADUMA ,you have just advanced to the next step !!

Of these UK Mortgage Lenders, the fundamental principle they all apply in respect of applicants of Foreign Nationality, is that they must have been in the UK for a minimum of 18 months, and they must possess a suitable work permit (with at least 1 year to expiry) which enables them to work in the UK.

So, again, What does this mean in ‘Saffer Lingo’?

- If you have a HSMP or Work Permit and have not been on it for 18 months or more, then Jammer Boet, you are outta here !!

- If you have a HSMP or Work Permit and have been on it for 18 months or more, then JOU Doring, you are in the money !!

It is possible to obtain a 100% mortgage as long as the applicant is a Doctor, Dentist, Accountant, Solicitor, Veterinary Surgeon, Teacher, Pharmacist or Ophthalmic Optician AND they are a registered member of the appropriate UK Professional Body.

- In some circumstances, Nurses can also qualify for a 100% mortgage but, generally, the maximum available is 95%.

- So I guess all those years of studying in SA, before you came to the UK did count for something………:)

University Graduates can also qualify for 100% mortgages but they must have graduated from a UK University:

- The minimum period they must have been in the UK is 18-24 months and they must have 2 years left on their visa.

So, to conclude: YES, it is possible to buy property in the UK, provided that you are on the correct visa / permit, for a minimum period of 18 months or more.

Wednesday, 6 February 2008

Horizon Consultancy – South African Property Investment Event , 6th April 2008 - London, United Kingdom

Our South African Investment Event will be hosted at the Wimbledon Park Golf Course (http://www.wpgc.co.uk/) in London, UK on Sunday, the 6th April 2008 from 12:00 to 15:00.

For a map of the location, click HERE !!

We will have several Cape Town property developments available on the day, but our flagship Development will be the Stellendale Village in Kuils River, Cape Town.

Stellendale Village is in its 4th Development Phase, due to the success of the previous 3 phases. The 1st and 2nd phases have 100% tenant occupancy.

The Development is situated next to the Stellenbosch Arterial in Kuils River , and a stones throw from the currently under construction, Zevenwacht Mall. The Development's location allows for direct access to the N1 and N2, and is close to schools and sport amenities.

A Summary of the Development is as follows:

· 5% DEPOSIT secures unit! (No other costs until transfer)
· 3 Bedroom, 1 or 2 bathroom with optional garage
· Estimated occupation beginning 2009
· 100% financing available for qualifying clients
· Estimated levy: R380 p/m
· Estimated Rental Income R3 600 p/m
· Freehold Title
· Home Owner's Association
· Controlled Access & Security
· 24 hrs Internet Connectivity & DSTV enabled
· Automated Irrigation
· Includes Hob and Oven

For more information on Stellendale Village, click HERE !!

If you would like to attend this Investment Event, please register on our website under 'Investment Events' as numbers are limited: www.horizon-consultancy.com
Kind Regards,

The Horizon Consultancy Team