Investing in UK Property from Abroad
The number of investors from overseas who have turned to the UK property market has increased dramatically in recent times. The market has performed incredibly well in the last few years, with both house prices and rents consistently rising at a faster pace than a number of various markets around the world.
This has been even more prevalent during the global economic uncertainty the last few years have brought about, with UK property not only continuing to perform well but actually reaching record highs in terms of house prices and rents.
Below you will find a guide to investing in UK property from abroad, as well as links to in-depth guides for investing from the following specific locations:
- 10.8%
House prices in the UK increased by 10.3% in the 12 months to November 2022 (HM Land Registry, 2023)
- 8.9%
House prices are forecast to increase by 8.9% in the next 5 years (JLL, 2022)
- 19.9%
Rents are forecast to increase by 15.9% in the next 5 years (JLL, 2022)
Why Should I Invest in UK Property from Abroad?
The good news for investors is that both house prices and rents look set to increase in the coming years. In the next 5 years, JLL expects house prices in the UK to increase by an impressive 8.9%, and rental values to grow by 19.9%.
With the market as buoyant as ever and showing no signs of slowing down, more and more investors are planning to invest in UK property from abroad. With this in mind, we’ve put together this guide to help you understand all of the intricacies that come with investing in UK property from abroad.
What do you need to invest in UK property from abroad?
When it comes to investing in UK property from abroad, there are a few forms of documentation that are required before you can move forward with the purchase to comply with UK anti-money laundering and fraud laws. These checks will usually be conducted by solicitors, banks and the agent you purchased through. These documents include:
- Proof of identity – your passport or driving license are ideal
- Proof of address – a bank statement, utility bill or driving licence are required
- Source of funds – Payslips, tax returns and proof of benefit are among the documents that can be used as proof of source of funds
These documents may be requested at numerous stages throughout the investment. So, it is important to have the ready from the start in order to avoid any unnecessary delays in the process.
Do I need to visit the UK? If not, how do I fill in the necessary paperwork?
No, you don’t have to visit the UK to complete your purchase. All communication can be done over the phone or by email, whilst all of the necessary paperwork can be filled out online or sent to us by email, post or via a courier. It is important to note that buying a property in the UK does not make you eligible for a UK visa, this is an entirely different process.
Who will manage my investment property?
After investing in a property in the UK, you are now a landlord, and as a landlord, you have a multitude of responsibilities that can be extremely overwhelming. There are, however, alternative management methods and we recommend using a lettings agent. Lettings agents offer full property management services, allowing the landlord to take a step back from wherever they are in the world.
What are our service fees?
We do not charge an additional fee for our service here at Knight Knox. To find out more about our business and history within the industry, click here.
Where are you investing from?
Investing from Nigeria
Investing from the UAE
Investing from Dubai
Investing from the US
Investing from Hong Kong
Investing from Elsewhere?
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