2017 was an eventful year for the UK’s character investment market. The impact of Brexit shook it to chief. Those who were planning to attend character auctions in the UK for purchasing second or more residential similarities were hit by additional 3% Stamp Duty. The resignation of Mr. David Cameron, the then British chief Minister, brought Pound down to its lowest financial value in the last 31 years at the international level. This affected the UK’s character investment market too!
This series of events does not seem to be stopping already as 2017 is about to end. The Bank of England has recently introduced changes in mortgage/lending rules. These changes have considerably affected the investment plans of those who had applied for mortgage/loan approval for buying residential similarities at house auctions. Now, all financial institutions and lenders are checking all kinds of records of every character associated with applicants’ portfolio. These changes in mortgage/lending rules have really changed the way the UK character investment market operates.
What Else is Expected in 2018?
• 2018 is also going to be a very eventful year for the UK’s character investment market. As for reason, Brexit is likely to strike again. Both the UK and EU have scheduled a meeting in this regard. This meeting will largely determine the picture of the UK’s character investment market.
• In case you are thinking about attending character auctions in the UK for purchasing a residential character, wait for some time and see the outcome of Brexit meeting between UK political officials and EU members. You should play a waiting game already more because the EU is now trying to come up with a plan to put-off Brexit meeting with the UK.
• Looks like the outcome of 2018 Brexit meeting between the EU and UK is a combination of good and bad news for investors. Those who were planning to attend house auctions for selling their residential similarities to earn some ROI (Return on Investment), are likely to confront a financial loss from 0.5% to 2%. This is a troublesome news for landlords.
• Those who wanted to buy character in London, can have smile on their confront as house prices in London are about to dip. This is a good news for those who wanted to invest in London character. This will also restore the grip the British capital has been losing among investors for the last associate of years.
• But you should not keep your investment plans or vision limited to London character only. Thanks to the enormous house price rise in other towns like Manchester, Liverpool, Birmingham, etc. These towns have seen 10% to 17.5% house price growth. already many investors have now started attending character auctions in these areas of the UK.
What’s the Best Advice?
2018 is all set to be a good year for those who plan on attending house auctions for buying a house in London. But it could be slightly tough for landlords. Thanks to Brexit uncertainty and volatile house prices. consequently, you are left with no choice but to get in touch with experienced character investment agents in London.