Real estate in the UK has always been very highly valued and was in great demand among foreign buyers. At the same time, foreign investors are not confused even by prices that, as you know, are one of the highest in Europe. However, with regard to prices, in order to purchase real estate in the foggy Albion, it is not necessary to be the owner of a large amount – you can purchase housing on credit. The mortgage program is very developed in England, and all conditions have been created for foreign buyers. A foreign buyer can get counting on a mortgage up to 70 percent of the cost of real estate. But at the same time, a foreign buyer must remember the following requirements:
1. A foreign citizen should have a deposit of at least 30 percent of the cost of housing. In this case, it must be cash in a bank account (not necessarily a British bank). And it is very important that there is confirmation of the legality of the origin of this money – in England, all strictly.
2. It is better to buy real estate in England through a real estate agency (however, it is also better to act in Russia, for example, by going to the Rieltorm website. ru, which belongs to a well -known real estate agency, you can find many interesting offers).
3. It is not rare that real estate in the UK is acquired in order to rent it out later. So, to receive a mortgage, it is necessary that the income from the rental of covers on a mortgage is at least 125 percent.
4. The minimum mortgage amount in England is 100 thousand pounds.
5. Mortgage is issued for a period of 3 to 25 years, and it can receive citizens who are a maximum of 65 years.