2017 was a phenomenal year for the real estate investment market in the UK. The impact of Britain’s exit from the European Union was shaken. Those who were planning to take part in the real estate auction in the UK to buy second or more residential properties were subject to an additional 3% surcharge. The resignation of the British Prime Minister David Cameron led Pound to fall internationally to its lowest level in the last 31 years. This effect on the real estate investment market in the UK!
This series of events is not going to come by 2017. The Bank of England has recently made changes in mortgage/borrowing rules. These changes have greatly influenced investment schemes for those who apply for mortgage approval/loan to buy residential properties in the auction house. Now, all financial institutions and lenders examine all types of records of each property related to the applicants’ portfolio. These changes in mortgage laws/borrowings have already changed the way the UK’s real estate investment market operates.
What is expected to happen in 2018?
• 2018 will be a phenomenal year for the real estate investment market in the UK. For this reason, the possibility of Britain’s exit from the European Union has increased again. The United Kingdom and the European Union have identified a meeting in this regard. This meeting will largely determine the image of the real estate investment market in the UK.
• If you are considering participating in the auction of UK property to buy residential property, wait for a while and look at the results of the Breaux Meeting between UK political officials and members of the European Union. The game should wait more because the European Union is now preparing a plan to suspend the Brazil meeting with Britain.
• The results of the 2018 EU-UK Braxtet meeting appear to be a mix of good and bad news for investors. Those who are planning to take part in home auctions to sell their residential properties to earn some returns on investment, they may have to face a financial loss of 0.5% to 2%. It’s annoying news for Realtors.
• Those who wanted to buy property in London could bring a smile on their face because London’s house prices are likely to fall. This is good news for those who want to invest in real estate in London. It will also restore the hold of British capital, which has been lost among investors over the last two years.
• But you should not limit your investment plan or vision to property only in London. Thanks for the huge increase in house prices in other cities like Manchester, Liverpool, Birmingham, etc. The city has increased by 10% to 17.5%. So far, many investors have started taking part in real estate auctions in these areas in the UK.
What is the best advice?
2018 has been set to be a good year for those who are planning to take part in home auctions to buy London homes. But it can be a little difficult on the owners. Thank you for the uncertainty of the brackish and the unstable house prices. So you have no choice but to communicate with experienced real estate investment agents in London.
Contact us now! We are the best group of real estate investment agents in London. We would be happy to help you make the right decision for real estate investment.
Source: http://EzineArticles.com/expert/Paul_Ge Toronto / 2283062