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I am a Malaysian, residing in Malaysia. Can I own a property in London for letting? Are there any restrictions? Can I get a mortgage on the property?

Asked on Oct 11 2012, General in London | Report content

Answers (2)

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  • I rent out 2 properties and although I am from London I don't think there are no specific restrictions if you are from another country. Anyone can buy here as long as you've got the money.Getting a mortgage will be the hardest part but if you have a large deposit then you may be able to persuade the mortgage company that the rent from the property will cover the repayments. Where to rent? The more central the area the better and near a tube station

    Answered on Nov 4 2012, Report content
  • There are no restrictions on Malaysian nationals owning property in the UK, however, your lawyer in London will have obligations under Money Laundering Regulations to prove your identity and any cash you put into the purchase was not earned from crime or terrorism. Assuming you have a good income and unencumbered assets in Malaysia it may be possible to borrow up to 70% of the value of the property. I have recently done one of these for an Australian national and he borrowed 70% successfully via an offshore lender.

    Answered on Nov 13 2012, Report content

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