10 golden rules to buying a UK property



1. Be clear before you buy about what you want to achieve with this purchase. Is it a home for you or an investment? Are you looking for rental income or capital growth?

2. If it's rental income you want, know your market and the type of tenant you want. Don't buy a family home if most rental demand comes from young singletons.

3. Organise funding first. Do you have the cash to buy outright or will you need a mortgage? If so, research funding carefully as long-term expatriates have limited financing options. Remember, UK interest rates are currently at a record low and will rise at some point.

4. Consider your tax position both now and in the future. Will you have to pay tax on rental income? And what about capital gains tax?

5. Budget carefully. Stick to the price you originally set. Don't consider rental amounts without factoring in other hidden charges such as estate agent fees, stamp duty, letting fees, legal fees and repairs and maintenance.

6. Do your research. Never buy without either visiting the property yourself or getting someone you trust to do so. If possible view several times and at different times of the day. Walk the nearby streets to get a feel for the area and potential difficulties. Never buy a house you would not be prepared to live in yourself.

7. Make management a priority. How will you buy and manage to handle a property from 5,000 kilometres away? If you need to pay a friend or agents on the ground, factor in their fees.

8. Check your legal position. Ensure you have a tenancy contract drawn up professionally, and a full inventory of the property. Check the legal requirements for becoming a landlord, including gas safety certificates and tenancy deposits. Vet your tenants carefully and have a contingency to cover evictions.

9. Factor in the worst scenario. Can you cover the mortgage payments during void periods if your tenant doesn't pay the rent?

10. What's your exit strategy. How will you sell the property and when? What sort of return are you realistically looking for?

Company Profile

Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed

The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

SPIDER-MAN: ACROSS THE SPIDER-VERSE

Directors: Joaquim Dos Santos, Kemp Powers, Justin K. Thompson
Stars: Shameik Moore, Hailee Steinfeld, Oscar Isaac
Rating: 4/5

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal

Rating: 2/5

SPECS

Engine: 2-litre 4-cylinder turbo and 3.6-litre V6
Transmission: Seven-speed automatic
Power: 235hp and 310hp
Torque: 258Nm and 271Nm
Price: From Dh185,100

Company Profile

Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices

The Cairo Statement

1: Commit to countering all types of terrorism and extremism in all their manifestations

2: Denounce violence and the rhetoric of hatred

3: Adhere to the full compliance with the Riyadh accord of 2014 and the subsequent meeting and executive procedures approved in 2014 by the GCC

4: Comply with all recommendations of the Summit between the US and Muslim countries held in May 2017 in Saudi Arabia.

5: Refrain from interfering in the internal affairs of countries and of supporting rogue entities.

6: Carry out the responsibility of all the countries with the international community to counter all manifestations of extremism and terrorism that threaten international peace and security

A QUIET PLACE

Starring: Lupita Nyong'o, Joseph Quinn, Djimon Hounsou

Director: Michael Sarnoski

Rating: 4/5


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