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  1. #1
    Join Date
    Mar 2004
    Location
    Thames, NZ
    Posts
    477

    Default Moving to the UK - Buy or rent?

    Hi guys,

    My wife and I have decided to move to the UK next year for a 2 year adventure.

    Our choices are to retn the whole time we are there, buy a tidy house and rent it out when we leave, buy a do up an rent it out when we leave or sell it hopefully for a bit of a gain.

    My main concern is seviceability of the loan if it is vacant. 500 to 700 pounds a month is a hefty amount in NZ$.

    Also, how do you start with finding the right one over there? What are the processes?

    I know how to do it pretty much now in NZ but what are the fish hooks in the UK? And also what kind of returns are to be expected to be performing well. I am guessing that I would just use the "Make sure it is CF+" rule.

    It appears that there are some opportunities in the property market in the Uk.

    Your thoughts folks?

    L
    How do you eat an Elephant?
    One Bite at a Time!! (Source: Spaceman)

  2. #2
    Join Date
    Dec 2004
    Location
    Sydney, Australia
    Posts
    413

    Default

    Hi Lawrence

    The UK market is like NZ in terms of where it is at at the moment (i.e. phenomenal returns over the last few years and now leveling off).

    The best web sites to check for property here are:

    www.findaproperty.co.uk
    www.rightmove.co.uk
    www.foxtons.co.uk


    I'd try and locate a property below the 250K mark as you will be only be hit by 1% stamp duty. Anything above 250K and your up to 3% stamp duty...thanks for coming!!

    When buying / renting always look for somewhere close to transport links...If you are in London you don't want to be more than 10 mins away from the tube or local train station. Any more and you will put off potential tenants.

    Stratford in East London has mass potential for capital gain as that is where the 2012 Olympics will be held.

    LK

  3. #3
    Join Date
    Jun 2005
    Location
    York, England
    Posts
    76

    Default

    Also, it obviously depends on where you loking to buy too. according to one of the many property programs on TV Oxford is suposed to be the best place to invest at the moment. so they say!

    R

  4. #4
    Join Date
    Jan 2004
    Location
    Whangarei
    Posts
    5,867

    Default

    Have you decided where you're going to move to?

  5. #5
    Join Date
    Mar 2004
    Location
    Thames, NZ
    Posts
    477

    Default

    Hmm.. sorry about the slow reply. I must not have subscribed to this thread properly.

    Thinking of New Castle in the North East. But I think I will be able to line up a job with a civil engineering consultant in Nottingham.
    How do you eat an Elephant?
    One Bite at a Time!! (Source: Spaceman)

  6. #6
    Join Date
    Mar 2004
    Location
    Thames, NZ
    Posts
    477

    Default

    Actually, how do you subcribe to a thread so you get email notifications? The old webpage was easy...now I have no idea.
    How do you eat an Elephant?
    One Bite at a Time!! (Source: Spaceman)

  7. #7
    Join Date
    Jun 2005
    Location
    Auckland
    Posts
    3,936

    Default

    Quote Originally Posted by AustinWong
    Actually, how do you subcribe to a thread so you get email notifications? The old webpage was easy...now I have no idea.
    Thread tools link at top of page. This will then subscribe you to thread and ask you when you want to be emailed

  8. #8
    Join Date
    Mar 2004
    Location
    Thames, NZ
    Posts
    477

    Default

    Testing 123
    How do you eat an Elephant?
    One Bite at a Time!! (Source: Spaceman)

  9. #9
    Join Date
    Dec 2004
    Location
    Sydney, Australia
    Posts
    413

    Default

    Quote Originally Posted by AustinWong
    Hmm.. sorry about the slow reply. I must not have subscribed to this thread properly.

    Thinking of New Castle in the North East. But I think I will be able to line up a job with a civil engineering consultant in Nottingham.
    Newcastle is cold and the Jordie accent is hard to understand but their football team is a lot better than Nottinghams. You will certainly find it easier to enter the UK market for buying in these two areas compared to London.


 

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