Buying a property in the UK as a foreigner

As a foreigner you can buy property in the UK, even if you do not live in the UK.

That said, buying property in the UK as a foreigner is easier if you are a cash buyer – i.e. do not need to apply for a mortgage or additional borrowing as it may be difficult to apply for such a mortgage.

Therefore, if you are looking to buy a property, it is important that you have a full understanding of the UK property market and have access to funds. I am able to provide my professional service to help you from start to finish.

It is also important to remember that, while the pound exchange rate is currently unstable due to Brexit, property prices in the UK are still comparatively high, depending on the area.

However, if you can afford to buy a property outright, yields from rental income can be high, while property prices tend to rise.

It is not yet known quite how Brexit (the UK’s exit from the EU) will affect overseas buyers of UK property, or house prices in general, and we are also aware that the UK Government has plans to introduce an additional tax for foreigners buying property in the UK.
Presently to buy a property in the UK, you have to consider the following;
Your budget price range – How much you can afford to pay.
Property location – Where are you looking to buy as prices can be significantly high in London area compare to other parts of UK
Proof of Identify and Financial Income – This is very important for the property transaction to be successful and will include the following; Name(s) and address(es) of buyer(s), Nationality and residential status, Occupation and nature of employment (Employed or self employed), Employer’s name and address, Length of time in current employment, Income details (usually three years).
Property transaction taxes – This is called Stamp duty land tax (England and Northern Ireland).  For 2018/2019 rates for buy to let and second property which is most likely to be in the case of a foreign buyer £40k – £125K is 3% rate, £125K – £250K is 5% rate, £250k – £925K is 8% rate, etc.
Property purchase completion – A Solicitor or licensed conveyancer is required to process and complete all legal requirement for the house purchase. A conveyancing fee and disbursement is paid by the buyer. Solicitor may ask the buyer to deposit a sum of money at the start of the process to cover for the disbursement (Stamp duty land tax, property registration fees, searches etc) as they arise.
Property Insurance and Council Tax – Annual property insurance and council tax are required by law.
For more information and for my service in actualising your UK property purchase, do not hesitate to contact me.
By
Dennis Bebo TA DenEco Consultancy

How to be Debt Free

Majority of us have debts which range in various degree, size and complexity. The most important thing about debt is how it is managed and the effect it has on our general wellbeing. This short article is about the most effective and affordable way to manage your debt and thereby being debt free in no time.

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REVIEW YOUR DEBT

The starting point is to have a comprehensive review of your total debt in a simple format that provide an overview of all your creditors and the amounts you owe. The total amount of debt and interest paid on each of the debts is very important to place priority to the sequence and affordable amount to payable. The best option is to have a debt payment plan bases on affordability and priority with categories such as non-negotiable, large amount, high interest, negotiable, small amount, low interest etc.

 

REVIEW YOUR INCOME AND EXPENDITURE

It is very important to review your income and expenditure with the aim of increasing your disposable income. There are several ways of doing that which will be a topic on its own. Our focus here is to maximise income and minimise expenditures as much as possible to have the much needed disposable income to manage debt effectively.

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TALK TO YOUR CREDITOR

Always let your creditor know as soon as possible if you are struggling or aware of a situation that will affect you making payment. Using your payment plan call all your creditors to negotiate an affordable amount and frequency of payment you can maintain. Most creditors will work with you to set an affordable minimum payment plan as long as possible.

 

REGULAR REVIEW OF PAYMENT PLAN

Once you have been able to set affordable payment plan with all your creditors, it is even more important to maintain and review your payment plan regularly to aim at making affordable adjustment where necessary to clear off your debt as soon as possible. Also don’t forget to seek financial help and advice either free or paid.

Please commend and let me know if you need further advice on the above,  Property investment, Energy and more

Written by

Dennis Bebo MSC, BSC, DEA, CeMAP

3 Major Nigeria Economic Paradox: A systematic success in failure.

As a Nigerian residing in the UK over 10 years, born, grew up and had my university education in Nigeria plus have economic and working experience and knowledge in both Nigeria and the UK believe strongly that the economic situation in Nigeria is a paradox created by a systematic success in the act of supporting or benefiting from  a failed system directly or indirectly. I will try and use this short article to highlight 3 major Nigeria Economic Paradox that is of common and general knowledge which must be address to achieve sustainable economic development in Nigeria.

  1. Self allocation, review and audit of salary, allowance and pension

It is beyond comprehension why the Nigeria system of government in every level allows or gives those in leadership position the power to self allocate, review and audit their salary, allowance and pension with no independent accountability procedures or measures. This has resulted in local, state and federal  politicians, legislators and executives to systematically in every opportunity self allocate, review and audit their salary, allowance and pension upwardly, falsely and unjustifiably. The result is a paradox of government where the civil service which is the functional aspect of government that suppose to manage and account for public service and public funds has been deliberately made dysfunctional by elected government leaders for selfish interest. The economy as a result is greatly affected negatively.

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2. Conflict of interest in contract allocation, project funding, job recruitment

It has become common and acceptable for both appointed and elected government leaders to give contract, fund projects or give jobs to themselves, their family members, friends and business partners with little or no concern for competency and accountability. The result is inefficiency,  looting and embezzlement of public funds which impacts on the economy negatively.

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3. Lack of supply in the midst of abundance

With the abundance of oil and gas, river, land and people in Nigeria; the lack of petroleum products, electricity, cooking gas, drinking water, food products and employment is one of the most unexplainable paradox in Nigeria. There is abundance raw material, resources and people for Nigeria to be one of the most successful, self sufficient and sustainable economy in the world but yet is among the poorest nations in the world.

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The solution of the 3 major paradox highlighted above is a collective responsibility of the leaders and citizens of Nigeria to use all legitimate resources and powers to promote, support and establish a system that works for all not the elite few that has successfully made a once great economy giant of African and a world potential great nation to its worst economic state ever.

Written By Dennis Bebo; Environmental and Energy consultant – DenEco Services TA www.DenEco.co.uk

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2016 “Year of the underdogs”

As we come to the end of 2016, we will ever remember this year as the year of the underdogs marked by the failure of the so call experts, incumbent governments and elites to get anything right or succeed in convincing the general public in their prediction and politics.

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Here are the 3 most remarkable events that will be remembered for generation to come and will change the future as we know it today.

  1. May 2016 – Leicester City  win English Premier League trophy

Leicester City’s 2016 Premier League triumph was one of the biggest shocks in sporting history. They were able to come from a betting odd of 5000 to 1 in the beginning of last season to win, surprising even themselves. They were relatively unknown, the underdogs that no team they played or anyone that knows football took serious until it was too late. They had the believe when no one did, the system that everyone taught was luck and the determination, energy and resilience that was beyond understanding. They were able to come up with an unpredictability that enable them to win with 10 points ahead of teams that are way ahead in finance, structure, systems etc.

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2. June 2016 – Brexit: British Public Voted to leave the EU

Brexit was another event that will ever be remembered as it was a public revolt against the establishment. The underdogs going toe to toe with the high and mighty. The U.K. voted to leave the European Union generated a sense of shock after opinion polls suggested voters would reject a Brexit.

Stock markets in London and Europe sold off sharply as they opened, with British bank shutterstock_440352301shares taking a particular hit. At one point, the pound hit its lowest level since the 1980s.

British Prime Minister David Cameron announced he will step down Friday morning, saying the negotiations for withdrawal from the EU should be carried out by a new leader. His replacement Teresa May was expected to be selected by October.

“The will of the people to leave the EU must be respected,” British Prime Minister David Cameron said in a statement Friday. “We must now prepare for a negotiation with the European Union.”

This will definitely shape the future of the UK, Europe and the world at large politically, socially and economically.

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3. November 2016 – Donald Trump wins US Election

In the beginning of Trump campaign no one took him serious, we all taught it was a media promotion move to promote his business interest. Donald Trump’s transition from primary flame-thrower to general-election standard bearer was marked by controversy. He knew what no one knew or taught will never work, how to use present himself as the underdog and use the underdogs to defeat the establishment. This he did by using the very issues that regular politicians will never dream of using such as racism, feminism, protectionism, religion etc

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Video of Major events of 2016

As we enter into 2017 and beyond, the 3 above events in 2016 will forever change the world but lets us to forget that the common factor is that; “Never underestimate yourself talk of anyone else because doing so is to your own detriment“.

 

You can also enjoy the success of being an underdog by saving money, energy and the environment with DenEco.co.uk

By Dennis Bebo

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3 easy ways to save money for the things you need or want

There are lots of things that we need to do to enable us  achieve our dreams of being successful and fulfilled in life. There is a different from what you want and what you need and it takes wisdom and understanding to differentiate the two and when to go from one to the other. A need is a requirement for survival, e.g. breathable air, food, shelter etc. A want is a desire. It may be the desire for a need (e.g. a choking person generally wants to be able to breath) or for something not needed for survival, such as chocolate or a new car.

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Below are the 3 easy ways to save for what you need or want

  1. Reduce

There are various things you have to reduce such as time, waste, energy etc that will save you money and cost you less. It is easy to start from the basic and small things you can mostly control and quantify like food, clothes, energy and then with time it will grow and multiply to significant savings to will enable you meet your every needs and essential wants.

Save money on UK home and business energy with DenEco.co.uk

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2.  Reuse

There are things that  need using again, whether for its original purpose or to fulfil a different function. It is in doing so that you can get the worth of that thing. Reuse helps save time, money, energy, and resources. In broader economic terms, it can make quality products available to people and organizations with limited means, while generating savings and opportunities that contribute to the economy in a sustainable way.

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3. Recycle

To save for what you need or want you can recycle the things you have. Recycling is the process of converting old/waste materials into reusable materials and objects. It is an alternative to “conventional” waste disposal that can save material and help lower greenhouse gas emissions. Recycling can prevent the waste of potentially useful materials and reduce the consumption of fresh raw materials, thereby reducing: energy usage, air pollution and water pollution.

To start saving for you needs and wants go green with DenEco Services
Helping you save money and the environment on energy, heating & eco solutions
www.deneco.co.uk

 

The New Global Economic Reality

The global economic reality has been playing over the last decade under the watch of economic and political institutions, leaders  and experts with almost all getting it wrong and being a victim of their own superficial intellectual prowess.

Over the years we have seen global economic melt downs, political uncertainty, poverty surge, increase civil unrest, mass migrations and alarming rate of unemployment in most countries. In all of these the very few that control the means of productions, wealth and in leadership position both economically and politically are better off and untouchable. This has lead to the economic and political elites to directly or indirectly ignore, neglect and insensitive to the plight of the majority working class and thereby prioritised and protect their collective interest. All the working class get is their collective interest reduce to mere numbers, indexes and promises that does not translate to reality on ground rather a subjective representation of the wealth and growth of the very elites.

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In all of these we find ourselves in a situation were economic experts and politicians cannot be trusted and as such the very foundation of all economic institutions and national economies is threatened with uncertainty, exploitation and corruption.

Protestors hold signs behind Fuld as he takes his seat to testify at a House Oversight and Government Reform Committee hearing on the Lehman Brothers bankruptcy in Washington

To provide a solution which seems to be ever becoming difficult as the years go by, we must first look back to how we got here. As an environmentalist, energy consultant and financial specialist with little economic background, I am not an economic or political expert but from my knowledge of global economy and events believe that the aggressive pursue and quest for globalisation and international dominance economically and politically which eventually lead to the gradual erosion of national interest and sovereignty is the root cause of the situation we find ourselves today.

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In the heart of the process of achieving globalisation and international dominance or recognition leaders of economic and political entities resulted in the use of any means necessary to achieve its aim. Unregulated greed, insensitivity, intolerance and corruption became the order of the day under the guise of free economy, free market, free trade creating an uncontrolled economic bubble, credit economy and political opportunist which eventually resulted in economic collapse, credit crunch, civil unrest, conflict, wars and terrorism.

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The new global economic reality is therefore one that will revert the wheel of globalisation and international relations and foster protectionism, nationalism and national sovereignty as a priority. The success of this new global reality will depend on individuals and nations to strike a balance  in addressing and protecting domestic economic realities with maintaining and promoting international relationships that is base on mutual respect and benefits for all interest groups. This is definitely going to be almost an impossible undertaking but today’s reality that will require lots of hard work and time especially to bridge the gap between rich and poor, revert the ever increase revolution of the working class that are the core victims of globalisation and international politics and to create an economy that benefits the majority, not the privilege few.

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All this will come down to individuals and nations getting the balance between production and consumption of food, energy and services in a way that works and benefit the majority of people. This is were we have to go back to the basic principles of demand and supply, production and consumption, goods and services, not forgetting the common denominator which is the people and the environment (land, air and water).

Written by Dennis Bebo TA DenEco.co.uk

Staying safe around gas appliances

Gas appliances are very important in heating, cooking and lighting but needs to be used in a safe manner to prevent unsafe and dangerous occurrence. The common used gas appliance in the UK are boilers, cookers and gas fires.

EPC BB10 1PT electric meter.JPGFour Steps you can take to protect your home or building from gas related hazards

  1. Fit an audible carbon monoxide alarm

carbon monoxide is a highly poisonous gas. It is difficult to detect because it has no colour, taste or smell. It is a byproduct of incomplete burning of fuels like gas, coal, wood and charcoal indoor due to lack of oxygen required for complete combustion.

Breathing in carbon monoxide can kill you. Even in less serious cases, it can lead to long-term health problems. Some of the symptoms of carbon monoxide poisoning are: Feeling short of breath, Mild nausea, confusion, feeling extremely tired, mild headaches, abdominal pains, sore throat and a dry cough.

An audible carbon monoxide alarm works like a smoke alarm: you can fit one to your ceiling and it will go off if it detects carbon monoxide. This can be a life safer – they normally cost between £20 and £45

2. Have your gas appliances – Boiler, fire, heater and cooker checked regularly by a Gas safe registered engineer

If you think a gas appliance might not be working properly, stop using it straightaway and get it checked by a qualified gas safe engineer

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3. Don’t block ventilation

To stay safe always ensure adequate ventilation is maintained and do not block ventilation specially when using gas appliances. In the event of gas leak or carbon monoxide poisoning open doors and windows to let air circulate.

Also learn to spot the signs of carbon monoxide poisoning and leak

4. What to do if you think you’ve got a gas leak

  • Put out any naked flames including cigarettes
  • Don’t switch any electrical appliances on or off including light switches
  • Open doors and windows to let air circulate
  • Turn off any gas appliance you think might be causing the leak
  • Keep people away from the area
  • Turn off your gas meter if it is safe to do so

If you smell gas or you need to report a gas explosion or fire in the UK – call the National Gas Emergency Services helpline straightaway free on 080011999.

For free advice on Property purchase, energy savings and more visit www.deneco.co.uk

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