A simple guide to the UK investment process :
1 . Prepare Finances : Getting your finances in order
The first step to buying a foreign property is to evaluate and prepare your finances . If you are looking to make use of a mortgage , it is important to understand the obligations as well as benefits thereof . In the UK , South Africans can borrow between 60 % - 80 %, with interest rates around 3-6 %. The current UK base rent is 3.5 %. Mortgage costs involve a broker and lender fee and total around £ 2000 approximately . South Africans can access a mortgage in the UK relatively easily and due to the double taxation treaty between South Africa and the UK , any tax paid in the UK will not be paid again in South Africa .
106 FEB 2023 SA Real Estate Investor Magazine