Can a foreigner own a property in London?
Across the world, nations have rather complicated restrictions when it comes to owning properties. Thankfully, that’s not the case in the UK. Expats looking to expand their property portfolio would be pleased to know that they can purchase a London property independently. This would be very useful in the event something in their country goes awry.
Just think about it. Even if your investments in your home country are heavily diversified, what will happen in the event of economic decline or political instability? Your investments will tank. But when you have another investment in a foreign country, especially in real estate, you are a bit more protected and you can decide to move right away if needed.
That said, it’s worth mentioning that buying a property in London would be so much easier if you buy it in cash to avoid all those mortgage proceedings. Getting approved for a mortgage as a non-UK resident is rather complicated, and even if you get approved, you’ll likely pay more in interests than if you were a British citizen.
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