We have recently returned from a trip to UK and Europe.t
We are planning on returning this year for a couple of weeks. We are looking into buying a flat/unit prefer London (yes we are aware of the high prices) or in Europe possibly Netherlands.Our daughter lives in London and has a dutch passport as my husband is dutch but she was born in Australia so has duel citizenship.
My husband can of course get duel citizenship.
Is it easier to buy OS with duel citizenship? Instead of a flat in London what about investing in a hotel room ?
Hello ourproperty
Before you consider buying an IP in the Netherlands I suggest you look into the landlord / tenants laws there. They are very very biased towards the tenant. The only safe way to rent out a residential property there is to a company or by the room to students as it's practically impossible to get a tenant out.
Cheers
Elka
Thanks Elka for reply
I didnt know that and my husband now tells me he knew that about the bias in favour towards a tenant !He believes also the Govt can tell tenants also where they can and cant rent to a certain extent
Hello ourproperty
It's certainly not a market that I would get into. When I first came here to live my thought was that you needed a permit or certificate for everything here, including breathing. A real shock after Australia.
Not a market for the unwary or uneducated in the local laws and conditions. Lots of DD required.
Cheers
ElkaHi guys
just got put onto this topic by birddog. I have a post running at the moment or my brother started it for me re PI in holland. Would love to get in touch re this as I am planning on living in Holland for 3 years. Hope to hear from you soon. I Fly back to AUS on the 29th aug so I have a week more to do some research. Talk soon
regards
john
Hi,
Also be aware of the maximum Loan to Value (I think it's LVR in Australia) with a UK mortgage.
I'm in the process of re-mortgaging a house (investment) in the UK and now that I have moved to Australia the maximum I can get is 70% of the value because I am now a non-resident in the UK.
One spot you may want to look at is Germany – not so much the residential side that is flat but commercial or retail. The prices are well below the level of comparable cities in Europe like Paris, London (of course) and Madrid. Not really on the radar and has been left behind. Really depends on how much of a cold the markets overall get from the Sub-Prime domino affect.
London should remain stable if the BoE drops rates as indicated. The remainder of the UK will though suffer.
Paul
It's not easy getting an Expat loan. However I just managed one through Skipton. Speak with Natalie Hobson at Mortgages By Phone. She was excellent and very helpful. It took me 7 months but any others now will be a lot less.
Ph. 01383 748300
Email: [email protected]Hi,
I've recently re-mortgaged with Mortgage Express for a property in the UK (I'm British) and they were good. So it may be worth finding out from them your borrowing capacity and that may help you make up your mind as to what to buy. I have a pretty good mortgage broker in the UK – if you want her details drop me a PM.
Regards,
Karen
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