With the ubiquitous nature of the internet and the proliferation of social media, it is not uncommon to see various data claims with no actual research or statistics to back it up. Everyone has an opinion in today’s world, and they are not afraid to call up numbers to justify their position, even when these numbers have no actual body of proof.
But, in spite of all these, one fact remains true: if you are considering investments or looking to expand your income, you would likely be advised on real estate. And along with available data, there are real-life examples all around us that serve as proof that this investment path is one that brings up great returns, year after year, in economic prosperity or adversity.
To address these challenges and guide interested investors in making the right decision, Access Bank UK held a webinar on the 15th of September, 2020 tagged How To Invest In London Property. Together with Daniel Ford International, a property search and acquisition firm based in London, the bank attempted to break down the method involved in getting into the London housing market while offering solutions that facilitate the process.
Purchasing a property in London involves several steps which start from identifying your objective (for residential purpose or buy-to-let) to searching appropriate markets and selecting a property; making a formal offer to the vendor; having your offer accepted; applying for a property loan; getting your property valued and possibly having your loan approved; having a solicitor undertake searches before contracts can be exchanged and finally owning the property. It is a rather complex process that you should not undertake on your own without the help of experts, not unless you are one yourself.
Employing the services of a managing agent and property acquisition specialist like Daniel Ford International will help you to scale through all the processes effortlessly, that is, until you get to the part where you need to apply for a property loan which is a service they do not offer. This is where Access Bank UK comes in.
Authorised by the Prudential Regulation Authority and regulated by this body as well as the Financial Conduct Authority, the Access Bank UK offers competitive property loans to facilitate the purchase of both investment buy-to-let and residential owner-occupation properties, in addition to the refinancing or re-mortgage of an existing UK property. Buy-to-let property loans are available on a repayment or interest-only basis of up to 15 years, while residential property loans are available on a repayment only basis up to 30 years. You can only get a maximum of 65% of the total value of your property, but will not be charged if you pay down a significant amount of your mortgage after one year.
If you are considering the next best investment to undertake, then you may want to look at properties in London.
