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United Kingdom Mortgages
The United Kingdom is Europe's third most populous country, and still a world economic leader. The country boasts a rich history and, despite high immigration figures, most parts of the UK cling onto a strict sense of their own particular cultural identity. The United Kingdom abounds with monuments, interesting architecture, museums, traditional pubs, tea rooms and world-class theatre, cinema and music, making it a year-round destination for visitors from all corners of the globe.

It also hosts the world’s largest population of Australians and New Zealanders outside of their home country – so there is a rich Antipodean culture and history, particularly in London. For that reason, and family connections, Australians own more property in the UK than in any other country in the world.

For people resident outside the UK, arranging finance for property purchases can be characterised as, "difficult but not impossible." The major difficulty has been that many UK domestic banks simply refuse to lend to Australian residents - even British citizens in Australia. This limits the potential for purchasing significantly. Also, with Australian tax rules now allowing you to treat offshore properties in much the same fashion as Australian domestic investment properties – as long as you meet the same qualifying criteria – it can be more tax effective to use finance.

The UK property market is well developed, has a broad range of property options and locations, and thanks to the population and large volumes of people that rent, traditionally above average rental yields. Note however that the ability to borrow will vary depending on precisely where you are buying and the type of property you are considering, and at the present time you should think in terms of a minimum 30% deposit, whether purchasing or re-financing, and a minimum loan size of GBP100,000.

 
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