We can introduce clients to a variety of finance options here, the norm being borrowing of up to 85%. There are the options of a Buy-to-Let mortgage or commercial financing.
However, given the interest rate strategy which applies across the UK it could well be that Irish investors might find it more economic, and simpler, to raise the finance in the RoI. Many do so by re-mortgaging existing properties, while others choose to raise money in other ways. Contact us for further details.
You will require to engage a Scottish solicitor to complete any purchase made. However rates, which will include meeting the Registrar’s requirements, are generally modest and fixed and can be ascertained in advance.
The “Offers Over” System is very common in Edinburgh. Buyers can, as the expression suggests, expect actual sale prices to be in excess of the advertised price under the “Offers Over” system which prevails in Scotland. Ambience consultants can guide would-be buyers as to what the ultimate cost could be.
We can engage the services of an independent chartered surveyor to undertake the necessary valuation procedure on behalf of clients. This can vary from a simple value-for-money appraisal of the property’s worth to a full structural survey.
Currently one per cent on purchases from £125,000 to £250,000. Thereafter, three per cent.
We can provide a fully comprehensive fitting-out and interior design service, to suit various budgets. We can source everything you will need from furniture and flooring to cutlery and crockery. Please look to our home page for details on various furniture packs. FURNISHING SOLUTIONS
Again we would anticipate achieving a much reduced cost level as regards agency fees. While 15% would be normal in, for instance, Edinburgh, we would expect to be able to introduce you to quality professional representation for 12% - plus VAT - or less.
We would not analyse or recommend a particular strategy. What we can do, however, is give you access to a specialist accountant – including an Irish accountant who has his own practice in Edinburgh and who is already undertaking work on our behalf. His expertise as regards the UK system would almost certainly be helpful.
In let properties it is the responsibility of the tenant to pay Council Tax, the city’s local service tax. However, if rental voids arise the owner then has to pay, with charges averaging around £150 for each month the property is unoccupied. If, on the other hand, a property is empty and unfurnished then ordinarily it can be exempted from Council Tax for up to six months.
If purchasing a modern apartment, Buildings Insurance is usually incorporated in annual factoring fees/charges. If not, we can recommend various options with insurance companies. For Contents Insurance, specialist insurance covering rented properties can be arranged if required.
Most new build and recent developments have a management agent in place. This entails an additional charge to property owners but carries many advantages – maintenance of communal areas and landscaping and, importantly, block insurance which covers – contents aside - individual homes.
Flat owners normally accept responsibility for a proportion of common repairs, even if they are not directly affected. A ground-floor proprietor, for example, may be liable for a share of roof repairs. For instance if there are fifteen flats in a block the share would be one-fifteenth. But this works both ways, and is generally regarded as a good an equitable approach. Your solicitor will advise you further on specific properties.
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