Five Points for Attention for Overseas Students to Buy British Real Estate

Many people will choose to immigrate to the UK, so how can international students buy a house in the UK? This is a problem that many people care about. Let's take a look at five tips for international students to buy British real estate. Welcome to reading.

First, the qualification to buy British real estate.

International students can buy real estate in Britain. Britain's real estate market is open to the world, and there are no special requirements for buyers themselves. Therefore, even if you are a foreign student who has just come to the UK, you can buy real estate.

The problem that international students will encounter is that they must prove the source of the purchase funds. Because students can't provide valid work certificates, it is difficult to get loans from local banks in the UK, so international students usually pay the house price in one lump sum. In fact, foreign students can directly say that the property was bought by their parents.

Second, the ownership of real estate.

There are generally two kinds of real estate in Britain, one is the lifelong retention of unlimited property rights. Usually the small house and garden garage we see belong to unlimited property rights, which means you can hold this property indefinitely.

The second is the limited property right lease right. Ordinary commercial real estate or apartment buildings will appear in the form of limited property rights, counting from the completion of the house for 200 years. In other words, if you buy a new apartment building as a buyer, you can own the property right for 200 years, but if you buy a very old apartment, it is very likely that the property right may only last for several decades.

However, according to British law, the owner can have limited renewal rights. This means that when the property right expires, you can extend your property right by paying an extra fee. The government can't confiscate your property until you voluntarily give up your power. Many people in Britain specialize in this kind of business and buy some commercial real estate with only five years left.

A question that most international students care about: What about the property right of this house if I return to China? Whether you are in Britain or not, whether you have a British visa after buying a house, you have the property right of the property.

Third, the safety of buying real estate in the UK.

Many students are worried about buying local real estate in Britain, because they don't know enough about the local area and are afraid of being cheated in the process of re-trading. In fact, you can rest assured that the process of buying a house in Britain is very complicated compared with the intermediary form between buyers and sellers in the process of buying a house in China.

The specific procedures need to be handled by three lawyers: the buyer, the seller and the intermediary. Lawyers of the three parties will conduct investigation and certification for several months, and after all relevant certificates are certified at the same time, the buyers and sellers will be informed whether to continue to purchase the agreement.

The entire transfer process will be filed in the municipal government, so the safety of buying a house in the UK is very worthy of protection.

Fourth, the cost of buying a house.

As mentioned above, although buying a house in Britain is safe, the transaction cost is not small. The first is the lawyer's fee, and there may be a corresponding investigation fee. In addition, various government taxes can be mixed together, covering 5% of the house price-10%.

At the same time, due to various complicated laws and regulations, buying a house in the UK is not something that you can live in immediately after paying money. At the beginning of legal affairs, you will give your lawyer the money for buying a house and freeze it in his name. Until the whole transaction is completed, the three parties will confirm with the customer by phone. You really become the owner of the new house.

However, there are also many purchase cases. To this end, both parties canceled the purchase. Usually, the buyer's lawyer will advise the client to withdraw funds because he can't get some important documents or investigate the hidden problems of the house. But the lawyer's fee was paid to Shui Piao.

5. Can I be the landlord?

As long as you have full ownership of your property, you can rent it legally. Some houses will provide government assistance to young people under the age of 26, so a large part of the price of your house will be shared by government agencies. At this time, the government will put forward some terms, some of which include whether the house can be rented and so on. Therefore, while enjoying the preferential treatment, we should also see the specific contract clearly.

In addition, if you want to rent your house, try to rent it through a leasing agent. Although the agent will charge you a certain fee, the agent can guarantee that your house will not be destroyed, and any housing problems caused by tenants will be solved by the agent. This also greatly enhances the security of rental housing.