How to buy and finance luxury properties in London

Enness Global Mortgages has released their latest guide into the world of high-net lending, this time focussing on how to buy and finance luxury properties in London.

You can find the full guide attached covering a range of subjects including: –

–          The current state of the London market

–          Equity release and refinance

–          Development

–          Bridging finance

–          Assets under management vs dry lending

–          Mortgages for non residents and foreign nationals

–          Legal considerations

–          The valuation process

–          Tax summaries

–          Mitigating foreign exchange risk and more

Islay Robinson, Enness Group CEO       

The London property market is on fire at the moment, and we are pretty sure it will roar on for the next few years.

Some short-term contributing factors have fuelled demand, including government intervention, the end of Brexit as a market inhibitor and COVID-19 causing a structural change in how people choose to live. Add in the success of the UK’s vaccine roll out over the past few months and pent up demand for property purchases after lockdowns, and we believe that 2021 could well be a bumper year for London property sales.

As well as the short-term factors affecting London’s property market, there are also long-term macro reasons why the London market remains desirable. Easy access to finance in London, the overall security of the UK and the strength of the country’s legal system all have enduring pulling power.

London remains a lifestyle destination. It has the culture, education and world-leading developers that support the city being one of the most desirable places to own property in the world.

Despite everything that is currently contributing to London’s buoyant property market, there are, inevitably, frictions. We recently saw the introduction of a stamp duty increase for non-residents. There have also been regular taxation changes that concern property, changes to the way property can be held, and changes that have affected inheritance tax.

At Enness, we believe that buyers should be armed with extensive knowledge before making a property purchase. Having a clear grasp of the factors you need to consider before you buy, who you need to ask for advice and how your situation will change after you have bought is key to successful and stress-free property ownership.

In this guide, we lay out some of the factors you will find it useful to consider before purchasing a property in London.