Investing in Spanish Overseas Property
February 29, 2008
Thanks for visiting! If you're new here, you may want to subscribe to our RSS feed. .
This site posts daily property development tips and news on a wide variety of subjects ranging from DIY to mortgages, from property finance to industry news.
Go ahead, subscribe to our feed! You can also receive updates from this blog via email
Thanks for visiting!
For the serious property investor, any property is a potential money making opportunity. With the current world stock’s instability and fluctuating interest rates, the property market still remains an excellent option for investment. The UK property market is great for those who can afford to invest and allow it to mature before seeing any dividends. But for those of you who possibly have extra funds in the bank, overseas property investments are potentially better than UK property investment.
Spain is indeed a great option for serious property investors. There’s a lot of potential, great holiday destinations, stunning scenery and attractions.
On top of the great investment buying a property in Spain is, it is also a enjoyable opportunity for the overseas property investor to enjoy their holdings. Many Spanish locations make spectacular holiday locations, and when you’re not using it, you can rent out to other holiday makers which will help you pay for the investment.
Popularity: 33%
Cheaper Eco-Friendly Homes: Dream or Reality?
February 28, 2008
The president of the National Association of Estate Agents (NAEA) called for action in making homes greener. Stewart Lilly is keen to see more work done regarding existing homes suggesting that devices which make homes more energy efficiency should be VAT-free. He added:
[VAT rebates] can only encourage people to introduce more energy efficiency into their existing homes
Buy-to-let landlords would also benefit from this kind of VAT change, if they can also take advantage of this tax exemption in their properties as they could decrease energy bills. Consequently people would be keen to live in cheaper eco-friendly homes.
Popularity: 31%
Capital Gains Tax Changes in the Next Budget
February 27, 2008
Some investors will benefit from one change to the capital gains tax (CGT) which has already been confirmed for the next budget. This measure concerns the link between time to the level of tax paid by an investor when he sells on a property, which will not start at 40 percent for the first three years of ownership and decrease by 2 per cent every year thereafter to 24 per cent after 10 years. This will allow more property market fluidity because will help investors who have owned properties for short periods by paying less tax, and consequently not being at a disadvantage against sellers who hold properties for many years.
Popularity: 29%
Interest Rate Fluctuations May Not Affect Landlords
February 26, 2008
Buy-to-let landlords may not be affected by recent interest rate changes, according to one industry resource.
Malcom Harrison of the Association of Residential Letting Agents (ARLA), stated that during 2008 landlords may benefit from steady demand for UK property and that interest rates fluctuations are unlikely to have a significant impact on them.
Mr Harrison suggested that most buy-to-let landlords are somewaht careful about lend-to-buy rates and normally work to the actual rent they will receive.
He also added, buy-to-let investors would have “done their math” and if the rent covers it, they would choose a fixed-rate mortgage.
The average buy-to-let landlord had an average of 16.3 percent return last year, which was up from 13.5 percent in 2006.
Popularity: 36%
Make Planning Permission and Building Regulations Work for You
February 25, 2008
The building regulations
By ensuring that buildings are safe and sound place to live in, building regulations protects the general public. These regulations do not apply to paths, drives or any other external areas. Building regulations only apply in connection with a building.
The building regulations department is also responsible to ensure whether a building’s work is energy efficient. Thorough building regulations are set up regarding materials and methods of construction, compulsory site inspections and assessment of building plans to ensure that the building work conforms to existing building requirements.
Planning and building
A plan drafted by an architect, building technician or building surveyor is always required for any major work building work. The person responsible to make the building plan should be aware of current building regulations, inspections and how they relate to the work you’re carrying out.
Planning regulations determine how and what you can build. Having the planning permission granted doesn’t mean you’ve received building approval and vice versa.
The building control and planning permission departments are always based at the council. They’re there to help and in most cases they’re helpful and informative. Their job is to ensure that you and your neighbours are protected.
Planning permission
You should never build a structure that needs planning permission without obtaining the required permission first, or you may be asked to put things right which can cost you a lot of money. In a worst case scenario you could even be asked to demolish the unauthorised building. The planning system is set out to protect the public interest and the environment. Generally, the planning permission system is quite straightforward and transparent.
When do I need planning permission?
Every property has ‘permitted development rights’ which are rights that entitle you to some types of modifications that you can make to your property without planning permission. For specific advice about your property should be sought from your architect, building technician or building surveyor.
If the building work doesn’t involve structural or aesthetical changes and general repairs are usually exempt. If you’re unsure about whether building regulations apply to the building work you’re preparing, contact your local building control office.
How do I get permission?
You can apply for building regulations approval in two different ways.
Full Plans - Suitable for major building work will require fully detailed, calculations and specifications. A formal approval or rejection notice is issued within a maximum of five weeks. The building work progress is inspected regularly at legally required stages before you can proceed to the next. This stage by stage process gives you a certain level of protection and ensures the building work is carried out according to the plans.
Building Notice - It generally applies for smaller projects. You don’t need to submit a full plan. It applies where only small parts of the building work needed falls within the Building Control Office regulations.
Popularity: 22%
Latest Property Headlines
- Present your conservatory correctly
- DIY increases during credit crunch
- Save energy when you develop a property
- The CML Proposed New Measures to Prevent Home Repossessions
- Overseas Property Investors Being Fined Under New Spanish Legislation
- Housing Associations Practicing Unfair Posseassions Says CAB
- Mortgage Advisors
- Gross Mortgage Lending Improved in April
- Bank of Scontland to Review Buy to Let and Self Cert Mortgages
- Less Buyers and Sold Properties Says National Homebuyers