When deciding to buy a property, regardless of the country, the most important factor to consider is the location. London is one of the most desirable cities to buy property in UK especially if the purchase is being made with the intention of investing. A well-chosen location will be the best cushion against falling prices. It is best to invest into property in an area that is up and coming, as the property prices in such areas usually skyrocket within several years.
London is divided into 9 zones with zone 1 and 2 forming the city centre. Belgravia, Mayfair, Knightsbridge and Chelsea are the most prestigious areas. The areas surrounding them are also considered very appealing and will have better prices on offer. London is a very diverse city with metropolitan areas neighbouring with quiet and peaceful suburban environments.
It is important to note that purchase of property in UK will not affect the immigration process for the individual and on its’ own does not guarantee provision of visa.
UK properties can be owned either leasehold or freehold.
Freehold title gives you the right to fully own the property. As a freeholder, you will have full responsibility for the maintenance and repairs of the property and also bear the risk of damage and destruction.
Leasehold ownership means that the land is owned by a freeholder but the lease allows the leaseholder to occupy the property on the land for as long as it is specified on the lease.
Once the lease terminates the property once again is possessed by the freeholder. The right of possession is granted for up to 999 years but usually the leases on properties are much shorter.
In general flats are usually leasehold and flats are freehold.
Generally, when considering costs the main element to look out for is the stamp duty which can be up to 12% for residential properties priced above £1,500,000 when bough by an individual and 15% of the property price valued above £500,000 if purchased by a company. Commissions will be paid off to the estate agents if one has been used when purchasing a property and will comprise of 1.5%-2.5% of the property value. Lawyers will also charge 0.5% of the property price for their services.
On 16 March 2017, the Home Office has released a Statement of Changes to the Immigration Rules. These new changes will affect those applications that need to have a Certificate of Sponsorship and these changes will be in effect on 06 April 2017.
What you should know about European visas after Article 50. The UK Prime Minister Theresa May has so far not changed her mind in regards to the plans of triggering Article 50 before the end of March 2017.
For international students who wish to remain in the UK longer or would like to eventually settle. There are options to choose from, granted you are willing to stay.
As of 16 January 2017 the Prime Minister of the United Kingdom, Theresa May, has given hints that the UK is moving towards a hard Brexit. Although Theresa May insists EU citizens are ‘welcome’ to be in the UK, she cannot guarantee the right of EU citizens in the UK at an early stage. These are troubling news for Europeans and British Citizens currently living and working in the UK.
As of 24 March 2016, the UK government has announced new changes to Tier 2 type visas. This is the migration route for those who have a confirmed job offer to undertake skilled employment in the UK.
The UK government has recently introduced a significant amount of changes to immigration rules and procedures that can influence nationals of European Economic Area. These changes will come into force on the 1st February 2017, however, some changes are happening now.
A new Statement of Changes to the Immigration Rules HC667 has been laid down on the 3rd November 2016. These changes come in a whopping 90 pages however, most changes are in the language itself rather than effect. The significant changes include the increase of the minimum salary requirement of Tier 2 skilled workers; the introduction of a fresh English language requirement for family immigration regarding to Tier 4 visa and the removal of the previous 28 days’ grace period for making out of time immigration applications.