Expat UK Property Story

#343

If you've heard about title splitting but can't work out where the deals actually are, this episode shows you where to look and what to check before you make an offer.

James Lynch has more than eighty units in his UK property portfolio.

But nearly half of that number is in one block of flats because James buys mutli unit freehold blocks in Britol and Wales.

He splits the titles, which means that at the point of purchase, he creates leases for all the individual flats. 

The combined total value of the individual flats should be much greater than the value of the block as a whole.

This means that you need less of a deposit than with most other strategies, and, when executed well, perhaps even no deposit at all.

Sounds great right? So where do you look for title splitting opportunities? Well that’s what this episode promises to deliver.

We cover where to find title splitting opportunities, from the property portals to direct to vendor letters, and how AI can help you search.

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We discuss:

How Title Splitting a Block of Flats Can Lower Your Deposit

James explains that splitting a block into individual leasehold flats can raise its value without any physical work, because a single flat is an individual saleable item with a bigger market.

His target is a split value of 1.35 to 1.4 times the price he pays.

He says that multiplier can bring the deposit down to 10%, 5% and sometimes zero.

Where to Find Title Splitting Opportunities in UK Property

James says Rightmove and Zoopla have no filter for blocks of flats, so you have to search around it, for example by the number of bedrooms or bathrooms.

He also points out that both portals forbid scraping in their terms and conditions.

One of his coaching clients specialises in finding overlooked blocks on Rightmove, and James says that client has bought over £2 million worth in just over a year to 18 months.

We look at yields: with finance on blocks and HMOs at around 6.5%, James says a 5.5% yield loses you money every month, and he ideally wants 10% or more.

He says they have bought on a 15% yield from day one.

OnTheMarket is the one portal with a blocks of flats filter, and James explains how to reach it.

We also cover deal sourcing, social media, property networking and UK property auctions, including James's warning not to rely on a sourcer's numbers.

A poll in James's community found two channels well ahead of the rest, and you'll hear which.

Direct to Vendor Letters for Blocks of Flats

James says his clients report direct to vendor response rates as good as 10% on a first letter, and in one case up to 20% by the second letter.

He is clear that a response means an owner who would sell at the right price, not a closed deal.

We discuss why block owners may be more open to a letter, from being professional landlords to the recent negativity around buy-to-let.

Most of his clients doing direct to vendor use Searchland, which James puts at about £4,000 a year, and its search for unbroken freehold blocks.

You'll hear how he layers filters, sends letters from inside Searchland, and why he is targeting blocks held in limited companies.

James also shares what he thinks belongs in a first letter, and why a conversation with one owner can lead to more than one deal.

Due Diligence on a Block: Utilities, Section 257 HMOs and the Renters' Rights Act

James says at least 90% of the time he will only consider blocks where electricity, gas and water are already split for each flat.

He shares a quick online way to check how many electricity supplies a building has.

We look at Section 257 HMOs, where a block converted without the right building regulations can fall under HMO rules, including different fire safety rules.

On rents, James explains how an underlet block can be impossible to mortgage, and why the Renters' Rights Act and the new rental tribunal make some buyers nervous about bridging first.

How AI Can Help You Find Title Splitting Deals

James has connected Claude Code to Property Filter, PropertyData and Searchland to build what he calls a block finder.

He explains how he turned it into a skill, then an agent that runs scheduled searches, then a dashboard that shows each block with red, amber and green flags for uplift alongside its yield.

#342

If you're an expat landlord wondering how the latest tax changes, lender fees and mortgage paperwork could affect your next UK buy-to-let, this episode gives you a clear picture of what to expect.

Shaz Ahmed of Elan Property Finance joins me for our regular Mortgage Monday monthly update.

This month we look at what the budget means for UK landlords, and what to watch for when you borrow from overseas.

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We discuss:

UK Property Tax Changes for Landlords

Shaz believes the property tax rate for landlords holding in personal names has gone up by 2%, following another 2% rise not long before.

He puts that at around 4% in a short space of time, and thinks the cost will more than likely be passed on to tenants.

Shaz also explains why moving a portfolio into a limited company is not as easy as it sounds.

On commercial property, he says business rates relief has risen from £12,000 to £18,000.

He also points to a temporary rise in corporation tax for banks, from 3% to 6% for about a year and a half.

Buy-to-Let Mortgage Fees and Leverage

Shaz expects banks to pass that cost on to borrowers, and says lenders might keep rates the same while raising one-off fees to protect their margin.

We also look at what happens when you add the arrangement fee to your loan.

Shaz gives the example of a 75% mortgage with a 3% fee, which becomes a 78% loan.

He explains that once you are a portfolio landlord, lenders assess your whole portfolio, so borrowed fees can affect how your overall leverage looks.

Expat Buy-to-Let Lender Rules

We ask whether lenders are bringing back the extra loading some add for expat borrowers.

Shaz says it depends on the lender: Shorebrook, Hampshire Trust and Castle Trust price high regardless with no expat loading, while smaller lenders such as building societies may add a premium.

We also cover the irrevocable nomination clause, which can require you to appoint a UK-based solicitor as a nominated contact for the life of the mortgage.

Shaz says he has seen it with some expat and foreign national lenders, including Gatehouse Bank, and that it puts a lot of responsibility on the person nominated.

On Northern Ireland, Shaz says the lenders he knows of charge 6.5% to 7% with a 5% fee, against roughly 5% with a 2% fee on a UK budget mortgage.

Expat Mortgage Paperwork and Proof of Income

We discuss new research from Suffolk Building Society, where nearly two thirds of respondents named proving income and affordability through overseas tax returns and payslips as their main challenge with expat clients.

Shaz says the paperwork is often the sticking point, because some people are paid in cash or have no formal payslips.

He explains that certified documents from a notary can help show they are valid in that country.

We also ask whether lenders really need monthly payslips at all.

Disclaimer

As ever, nothing in this episode is financial, investment or mortgage advice, just two people talking through UK buy-to-let lending for expats.

#341

Do you assume you would have to fly back to the UK just to view a buy-to-let?

Have you been told that no lender will give you a UK buy-to-let mortgage because you are an expat?

In this solo episode of Expat Property Story, I explain how we have bought 13 UK properties from overseas and viewed only one of them before purchase.

The short answer is yes, you can buy a UK property remotely, and I walk you through how in seven steps.

Along the way you will hear from eight past guests, plus the story of how I rang nearly 20 law firms just to get one set of mortgage documents certified.

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In this episode:

1. Viewing a UK property remotely

Combining online research with a live video walkthrough or a trusted local inspection can save a lot of flights, favours and fees.

Google Earth and Google Street View let you go back in time to see how a property and its neighbours have changed.

•       Patrick Sullivan (Episode 49) explains what listing photos can reveal, from damp and chimney breasts to mismatched worktops and trees that are too close to the house.

•       Tony Walker (Episode 301) explains how his Refurb Calculator app can double as a checklist for whoever does your video walkthrough.

I also explain why making an offer subject to viewing can save you and the estate agent a lot of wasted time.

2. Choose your people before your property

When you invest from the other side of the world, your due diligence shifts from the property to the people you work with.

•       Helen Godbold-Eade (Episode 7) explains why buying through a selling agent without doing your own due diligence is probably the most expensive mistake she sees.

•       I cover what to check on Companies House, including charges, filings, missing accounts and liquidations.

•       You will also hear why a website called Endole can show links between companies that Companies House makes hard to spot.

3. Pick one area and become an expert

Suzi Carter (Episode 181) makes the case for getting to know one or two areas really well rather than taking a scattergun approach.

I also give the counter argument: a deal-driven approach can give you more discounted deals to choose from, and deep discounts can help mitigate risk.

4. Get mortgage ready as an expat or foreign national

You can get UK lending as an expat and even as a foreign national, although where you live and who you work for can make a big difference.

I explain how lenders may use the Corruption Perceptions Index, and why two expats on the same salary can be offered different options.

•       Keep everything your lender needs in one folder, ideally on Google Drive.

•       My former broker Simon Allen (Episodes 15 and 16) explains why you should keep your deposit in one place and be ready to show where the money came from.

5. Moving money to the UK

Samuel Pitt of OFX (Episode 8) shares his advice on planning ahead rather than trying to predict exchange rates.

•       You will hear why weekend transfers can cost you, and how forward contracts and limit orders work.

•       Samuel also explains why getting your account details right first time matters so much if funds ever need to be recalled.

6. Expat tax

Neil Ryder (Episode 186) shares his simple framework for thinking about every tax decision in terms of today, tomorrow and next week.

I also cover the one tax that applies wherever you live abroad: the 2% Stamp Duty Land Tax surcharge for non-UK residents.

7. Prove you are who you say you are without flying back

Gerard Davis (Episode 329) explains why every lender and law firm seems to have its own approach to verifying ID.

I then share the story of certifying documents in Hong Kong for our first HMO refinance, including a surprisingly generous solicitor, a rejected certificate and a well-timed email to my broker.

My advice is to ask a solicitor how they handle ID and signatures before you instruct them.

Key takeaways

•       Being overseas does not have to stop you buying UK property without viewing it yourself first.

•       Do as much as you can from the listing photos  before paying for a video walkthrough.

•       When you invest from abroad, put as much effort into checking your people as you do into checking the property.

•       Get mortgage ready before you start making offers, and keep a clear paper trail for your deposit.

•       Plan your currency transfers around your own timing rather than a guess about where rates are heading.

•       Understand your tax position, and especially your tax residency, before you buy.

•       Ask solicitors how they verify ID before you instruct them.

Free mortgage-ready checklist

You can get our free PDF checklist of everything you need to be mortgage ready by joining our community: [LINK: Join our community]

You will also receive our weekly newsletter, which has completely different content from the podcast.

•       Episode 7 with Helen Godbold-Eade

•       Episode 8 with Samuel Pitt

•       Episodes 15 and 16 on expat mortgages with Simon Allen

•       Episode 49 with Patrick Sullivan

•       Episode 181 with Suzi Carter

•       Episode 186 with Neil Ryder

•       Episode 301 with Tony Walker

•       Episode 329 with Gerard Davis

Disclaimer
The content of this podcast is for general information and education only and should not be taken as financial, legal, tax or mortgage advice.

Please speak to a qualified professional about your own circumstances before making any investment decision.

#340

This week's shorter Monday Mini-Sode is a UK Property News Update.
We cover:

• the latest rents and house prices, 
• a record month for asking price cuts, 
• a brief look at last week’s Budget, 
• and two stories on the Renters' Rights Act, six months in.

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In today's show:

Rents and house prices

Average UK private rent rose 3.8% to £1,406 a month in the 12 months to September 2026 (provisional).

Average rents: England £1,466 (up 4.0%), Wales £848 (up 4.1%) and Scotland £1,011 (up 0.7%).

Northern Ireland: £879 (up 1.7%) in the 12 months to July 2026.

In England, rent growth was highest in the North West (5.7%) and lowest in London and the South East (both 3.5%).

Average UK house price rose 0.9% to £273,000 in the 12 months to August 2026 (provisional), down from 1.2% in the 12 months to July.

Average house prices: England £294,000 (up 0.4%), Wales £216,000 (up 3.1%) and Scotland £198,000 (up 2.9%).

London prices fell 2.2%, driven by falls in the price of flats, which make up about half of London sales.

Source: Office for National Statistics, Private rent and house prices, UK: October 2026.

Asking price cuts

Sellers cut asking prices on more than 3,000 properties a day on average in September, the highest monthly total for 15 years (Rightmove).

34% of listed homes had a price reduction, close to the recent peak of 36% in September 2023.

The average reduction was nearly 7%, about £21,000 on a typically valued home.

Homes with a price reduction typically took 119 days to find a buyer, compared with 39 days for homes listed at one price.

Zoopla: the number of homes for sale was up 5% in September compared with a year earlier, while sales agreed fell 9%.

Source: BBC News, Home sellers cut asking prices on 3,000 properties a day: https://www.bbc.co.uk/news/articles/c84g13z6xx4eo

The Budget and landlords

The 2026 Budget added a further 2 percentage point rise in income tax on property income, on top of the 2 points announced in the 2025 Budget.

From April 2027, the rates on property income will be 24% (basic), 44% (higher) and 49% (additional), according to Landbay.

The rise applies to landlords who hold property in their personal names in England, Wales and Northern Ireland, not to limited companies.

Together estimated the measure could raise around £575 million a year in tax.

Source: Property Reporter, "Another disincentive to invest": property industry reacts to 2026 Budget, 28 October 2026.

This is general information, not tax advice; speak to a qualified tax adviser about your own situation.

Are landlords leaving?

27% of landlords are reducing their portfolios or have done so in the past year, and 65% of those cite the Renters' Rights Act as the main reason (Goodlord, survey of more than 3,000 agents, landlords and tenants).

50% of letting agents report fewer properties available, and 45% report more tenant enquiries.

Landlord pessimism fell from 78% in 2025 to 69%, but stands at 81% among landlords with six or more properties.

Pegasus Insights found 22% of landlords sold rental properties in the 12 months to June 2026, against 38% who had said they would.

Sources: Property Reporter on Goodlord's State of the Lettings Industry report; Leaders, Renters' Rights Act: A review of the first six months, 22 October 2026.

Tenants and the Renters' Rights Act

51% of letting agents are more cautious when recommending applicants than a year ago.

26% of landlords are more likely to reject applicants they would previously have accepted, and 31% would prefer to leave a property vacant while waiting for a lower-risk applicant.

33% of landlords are more cautious about tenants with limited or poor credit histories, previous rental difficulties or County Court Judgments.

77% of tenants say they feel secure in their tenancy, and the share who are optimistic about renting rose from 20% to 37%.

Leaders reports that the one-month limit on rent in advance has hit international students in particular.

Sources: Property Reporter, One in four landlords more likely to reject tenants following Renters' Rights Act, 23 October 2026; Leaders, 22 October 2026.

#339

A seller paid their estate agent a 2% fee to get the best possible price for their property.

They lost out on £100,000 because the branch manager had taken a kickback from another buyer.

Damian King was working in that office, and he was paid a couple of grand to keep quiet.

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Damian King's Book:
Morally Corrupt: Confessions of an Ex Estate Agent

Inside the Brown Envelope Culture of Estate Agency

Damian became a trainee negotiator at 17, and a developer handed him his first envelope of cash soon after.

He explains why it can be easy for an ordinary agent to accept a “drink” from a developer or investor, and why he believes it still happens today.

You’ll also hear about the unofficial “hands-off” policy at one agency, where some properties were shown at their worst to steer them towards a favoured buyer.

Choosing an Estate Agent When You Sell UK Property

If you flip UK property or sell a buy-to-let, Damian’s advice on choosing an agent is worth hearing.

He explains why overpricing can mean you never reach true market value, and why an agent who drops their fee instantly may not negotiate hard for you.

How Estate Agents Judge Buyers

Damian describes the “ghost property” test he used to separate serious buyers from time-wasters, or “wafts” as they were known in his office.

He then sets out how to show an agent you’re serious, and why he relies on word of mouth rather than online reviews.

Key Takeaways

1.     Find agents by word of mouth; online reviews can be gamed.

2.     Bad press can be pushed down Google, so search beyond the first page.

3.     An agent who drops their fee instantly may not negotiate hard for you either.

4.     A good agent proves their worth after the sale is agreed, not before.

5.     Overpricing a property can mean you never achieve its true market value.

6.     Show you’re serious: know the area, your price range and exact requirements.

7.     Do your own due diligence and arrive better prepared than the agent.

About Damian King

Damian left school at 15, worked as a labourer, and became a trainee negotiator at 17.

He went on to sell prestige London property before becoming a developer himself.

He now lives on a 300-acre off-grid ranch in the mountains of northern Spain.

His book, Morally Corrupt: Confessions of an Ex Estate Agent, is available here: [BOOK LINK]

#338

Once a month, auction specialist Jay Howard from Hammered Auctions joins us to report from the front line of UK property auctions.

Jay reports that an auctioneer recently told him  that it feels as if we are getting close to a crash

Jay, an auction trader and former auction manager, takes that with a pinch of salt and explains why.

Then the conversation turns to a Thunderbirds-style house with a rocket beside the swimming pool and a railway underground, and the question of whether anyone will buy it.

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We discuss:

What the UK Property Auction Room Is Saying

Jay opens with a conversation he had with an auctioneer the night before a sale.

According to that auctioneer, a lot of buyers were still waiting until the very last moment to register to bid, and it was shaping up to be a tough day.

A second auctioneer told Jay a couple of weeks earlier that the market feels close to a crash.

Jay points out that she would have been in her early teens in 2008, so she has not worked through a property crash as an adult.

Is the UK Property Market Crashing, or Just Adjusting?

Jay does not think there is a crash, and he goes further, saying he thinks crashes are a thing of the past.

To him, a crash means people handing back keys in their droves, values falling nationally, banks not wanting to lend and owners slipping into negative equity.

What he is seeing instead is a slow, sluggish market, which he describes as a market adjustment.

You also hear his view on the idea of a silent crash, which he does not subscribe to.

He shares a recent sale where the client agreed it was a good price for this market, while both felt it might have fetched around £10k more six months earlier.

Jay also looks back at COVID, when furlough and higher savings increased buying power and pushed prices up rather than down.

Why Lending Rules Make Mass Negative Equity Less Likely

Jay's reasoning rests on the rules now in place around lending, loan to values and affordability checks.

In his view, these make it very difficult for a market correction to push large numbers of owners into negative equity at once.

He accepts that some people will still find themselves in trouble, just not on the scale seen in 2008.

What Is and Isn't Selling at Property Auctions

At recent auctions, Jay has seen far less activity around what he calls long play opportunities, such as land, garages and vacant commercial property.

Light industrial units, workshops and offices are still doing well, while vacant high street and secondary shops are struggling.

The Thunderbirds-Style House Going to Auction

The BBC has reported on a house in Tilehurst, Berkshire, that is reminiscent of the home in the 1960s TV series Thunderbirds.

It has a rocket beside the swimming pool, an extensive network of tunnels and underground rooms, and a hand-built underground railway.

At the time of recording it was due to go to auction with Edisons, with a guide price of £300,000 to £325,000.

Jay compares it with the Mole Man of Hackney, a property Auction House London was instructed to sell roughly six months to a year before he joined.

Why Quirky Properties Go to Auction

Jay explains that a house like this goes to auction not because anything is wrong with it, but because it is so hard to value.

How do you put a price on a rocket ship, a swimming pool in the British weather or a network of tunnels?

He explains why a property this unusual needs the attention an auction brings rather than a spot in an estate agent's window.

Will it sell, and for how much?

Jay gives his prediction, and explains why what the market will pay and what a trader will pay are two very different things.

Key Takeaways

A sluggish market and a crash are not the same thing, according to Jay.

Today's lending, loan to value and affordability rules are, in his view, the main reason mass negative equity is less likely than in 2008.

Recent auction rooms show less appetite for long plays such as land and vacant commercial property, while light industrial units remain in demand.

Hard-to-value properties often suit auction better than a traditional estate agent.

A trader prices a property to the margin they need, which can be very different from what the market will pay.

# 337

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The UK has an increasingly ageing population, and research by the Homeowners Alliance points to a large and growing demand for bungalows, yet hardly any are built anymore.

In this episode, I talk to Jo Child, whom I met in Coventry on my recent UK property tour, about the three bungalows she has renovated with her brother, who is a builder.

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We discuss:

Why choose bungalows as a property strategy?

Jo started with a bungalow because a small, single-storey project felt like a manageable first renovation.

Filtering for bungalows on Rightmove narrowed what would otherwise have been a very wide search area between Leicester and Coventry.

Many bungalows on the market need modernising, while fully renovated ones ready to move into are in short supply.

Accessibility features in a bungalow renovation

Jo's first buyer used a wheelchair and ripped out much of the new renovation, including the carpets, to suit her needs.

On her third project, Jo widened the door frames, set sockets, switches and door handles at an accessible height, and fitted hard flooring throughout.

She also kept floors level, fitted a walk-in shower instead of a bath, and reinforced the bathroom walls so grab rails can be added later.

The style was kept neutral, modern and light to appeal to buyers of all ages.

Checking demand and finding the deal

Jo checked demand by looking at how many bungalows were for sale on Rightmove, how quickly they sold, and by talking to local agents.

She found her first bungalow on a street with lots of other bungalows, after a modern method auction sale with Pattinson had fallen through.

Before offering, she asked the auction house why the earlier sales had collapsed, and it turned out to be the buyer's circumstances rather than the property.

Jo also shares a stamp duty lesson that cost her on a later project.

Choosing an estate agent and pricing to sell

Jo found three agents through local Facebook groups and chose the one she felt would offer the best service, not the highest valuation.

Because she had bought at a good price, she could price the bungalow to sell, and it went for over the asking price within a few days.

Working with family and finding builders

Working with her brother brought trust and quality, along with the occasional sibling argument.

For investors without builders in the family, Jo recommends local Facebook groups, where people are quick to say who they rate and who to avoid.

What's next for Jo

After three renovations alongside a full-time job and two children, Jo has built up equity and is now looking at title splitting and commercial property for more regular income.

Key takeaways

·       Fewer bungalows are being built while demand grows, and a focused niche can make your property search easier.

·       If you are flipping, choose an estate agent based on their marketing plan, not the highest valuation.

·       Whatever your strategy, buying at a good price is the best way to reduce risk and avoid pressure to sell low.

#336

For the first time in 336 episodes, Expat Property Story is running a listener survey.

The aim is to understand the main challenges you face when building, or thinking about building, a UK property portfolio from overseas.

Whether you haven't bought yet, own one property, or have ten and are thinking about slowing down, your answers will help shape future episodes.

Take our two-minute survey

The survey is mostly multiple choice, with just two open questions, and takes two or three minutes to complete.

Listeners based in the UK are just as welcome to take part as those overseas.

The findings will be shared in a future episode.

Take our 2 min Survey

How the podcast began

The podcast launched in February 2022, when we already owned five student HMOs but still felt like novices.

Season one looked back at how we bought those HMOs, alongside interviews with UK property experts.

In season two, episodes 35 to 53, I set myself the challenge of buying a UK property at auction from Hong Kong within four months, and secured a block of flats in Derbyshire with two weeks to spare.

Since then, guests have mostly been chosen out of curiosity, and the survey is a step towards a more systematic approach built around what listeners need.

Take our 2 min Survey

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#335
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A text arrives at 5pm Hong Kong time with a batch of discounted UK properties, at least 25 other buyers in the race, and a condition that contracts must be exchanged within six hours.

That leaves less than an hour to analyse the deal.

In this solo episode, I walk through how to analyse a UK buy-to-let deal from overseas, from the wider area down to the street, the property and the numbers.

At the end, I reveal what happened on that evening in November 2022.

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We discuss:
Building your own deal analyser

Before analysing any deal, it helps to know your goals, circumstances, target return on capital employed (ROCE), time available and appetite for risk.

A deal analyser can be built in Excel, or with the help of AI, around your own criteria.

More rows do not automatically make a better analyser, so aim for a first pass you can run in about ten minutes.

Here is an illustrative example with made-up round numbers, to help if the audio was hard to follow.

These figures are for illustration only and are not a real deal.

Purchase costs

·       Purchase price: £100,000

·       Deposit (25%): £25,000, so the mortgage is £75,000

·       Stamp duty, including the extra 2% for overseas buyers: £7,000 (check current rates)

·       Solicitor: £1,500

·       Mortgage broker: £500

·       Survey: £500

·       Sourcing fee: £2,000

·       Refurb: £5,000

·       Capital employed (all the money you put in): £41,500

Annual income and costs

·       Rent: £9,000 (£750 a month)

·       Management fee (10%): −£900

·       Buildings insurance: −£300

·       Maintenance allowance (5%): −£450

·       Voids allowance (5%): −£450

·       Mortgage interest (£75,000 × 5%): −£3,750

·       Net annual income: £3,150

Return on capital employed

·       ROCE = net annual income ÷ capital employed = £3,150 ÷ £41,500 = 7.6%

You may also want rows for tax on your income and for stress testing a best, average and worst case, especially for short-term lets.

Analysing the area

The three key drivers of capital growth are population, employment and infrastructure, such as transport links and regeneration projects.

Former guest James Sproule describes "pretty cities" such as Cambridge, Bath, York, Harrogate and Edinburgh as a good bet for capital growth.

Dr Paul Morland's advice is to avoid areas with a declining population, which you can check with the Office for National Statistics (ONS).

How to check rental demand

Using Property Engine, divide the number of let agreed properties in a postcode by the total of available and let agreed properties.

For example, if a postcode has 20 properties available to rent and 30 let agreed, demand is 30 ÷ 50 = 60%.

The same formula works for sales: divide properties sold subject to contract by all properties for sale, including those sold subject to contract.

For example, 25 sold subject to contract out of 65 in total gives 38%.

Former guest Jonathan Rowland won't go near anything under 40%, while others use 50%.

Analysing the street and comparables

EnglishHousePrices.com shows sold prices in a postcode from Land Registry data, giving you an idea of the street's ceiling price.

Lenders are often reluctant to value a property above that ceiling.

The ideal comparable is next door, the same size, sold recently and in the same condition, and Property Engine makes checking condition through photos quick.

Analysing the property itself

Check your figures with two or three local estate agents, and ask what price would achieve a really quick sale.

Check the EPC for the rating, size and any non-standard construction, but treat it as a starting point rather than a bible.

Google the address, check the local planning portal, and use a VPN if a council website blocks overseas browsers.

Location-driven or deal-driven?

Sticking to one area makes it easier to build a team, but a deal-driven approach can find bargains faster and adds some diversity to a portfolio.

A big discount is always the best way to mitigate risk.

Key takeaways

·       Build a deal analyser around your own goals and target ROCE, and keep the first pass simple.

·       Move from the area to the street to the property, checking your figures at each stage.

·       Measure demand with a simple percentage before you buy.

·       A trusted network of brokers, managers and partners lets you analyse quickly and safely.

Resources mentioned

Property Engine (use the code expat for a discount), EnglishHousePrices.com, Rightmove, Zoopla, the EPC register, Google Earth, Land Registry, HomeTrack, EIG, Dougal.co.uk, Refurb Calculator and ExpressVPN.

Episode 326 on stamp duty, Episode 301 with Tony Walker on estimating refurb costs remotely, and Episode 77 to 79 on the November 2022 deal.

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Once a month, Simon Misiewicz from Optimise Accountants joins us to tackle a UK property tax topic — with one eye always on those of us based overseas.

This month we’re looking at what to consider before seeking advice on your UK property investments when you live abroad.

If you own UK property and live overseas, the right tax advice depends on more than the property itself.

In this month's tax minisode, Simon Misiewicz of Optimise Accountants explains why UK-only advice may not be enough for expat landlords.

Your country of residence, tax status, income and investment structure can all shape the advice you need.

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Do you need a UK property tax specialist?

Simon suggests it depends on your situation.

If you are a basic rate taxpayer with one or two properties, he argues that a specialist property tax accountant may not be good value for money.

He sees more value if you are a higher rate taxpayer or invest through a limited company.

Why where you live changes the tax advice you need

Hong Kong only taxes Hong Kong-sourced income, so UK rental income is not taxed there.

The United States taxes its citizens on worldwide income, wherever they live.

Simon gives the example of a UK repair that is a tax-allowable cost in the UK but treated differently in the US, where depreciation applies instead.

Spain also taxes its residents on worldwide income.

UK tax already paid can be deducted on the Spanish return, but Spain does not recognise the UK's Private Residence Relief.

That means selling your former UK home after becoming Spanish tax resident could lead to a much larger tax bill in Spain.

Key takeaways

·       Brief your accountant on your whole tax position, not just your UK property.

·       Check whether a UK-only adviser understands the tax rules where you live.

·       If you are taxed in the US, consider a dual-qualified US and UK adviser.

·       Good UK tax advice can become costly in another country if the two are not joined up.

Coming up next month

Simon returns to cover the cross-border tax rules that can catch expats out, from tax treaties and inheritance planning to UK pension and ISA benefits.

Disclaimer

This episode is for general information only and is not tax or financial advice.

Tax rules vary by country and personal circumstances, so please take professional advice before acting.