By Adenike Fagbemi
Baron & Cabot, a UK property investment company has urged Nigerians, especially those keen in investing real estates to take advantage of the many incentives provided by the United Kingdom government for foreigners wanting to invest in real estates.
Recall the UK property investment company recently launched its new base in Kenya and Nigeria to help African investors invest in property within the UK in a simple and effective way.
Mark Pearson, Founder, Baron & Cabot who disclosed this in an exclusive interview in Lagos said owning a property in the UK will also keep their investment safe from the fluctuating value of the Naira against the Pound Sterling and other currencies.
According to him, the UK is greatly considered to be one of the lowest risk investments in the world, with consistent long-term returns factored in by continuous growth within the country.
“You know, we’ve got clients who built property portfolios in Nigeria, made money in Naira, but then when they converted about $1 what they’ve made they would have made more money just by putting their money into properties in the UK.
“UK has its advantages in that for Nigerians specifically as well in that you get tax breaks, as in Nigeria. So because of the relationship between the UK and Nigeria, all Nigerians get the same tax incentives that the British do, which means that the first one to 12 and a half 1000 pounds, you make you don’t pay tax on which means the first one or two properties, you know, rent after your costs. You don’t you don’t really have any tax to pay.
Speaking further, Pearson said the property firm has built a market leading research strategy for the investor to simply just choose what would be suitable for them
“The investor is also granted a step-by-step guide on sourcing the right property to purchase in the UK. This gives the investor the power and confidence to ask the right questions for profitable property investment.”
Pearson On what sets Baron & Cabot aside from other property firms, Pearson explained that the services of his company goes beyond just selling choice properties in the UK to Nigerians and other African investors, “We facilitate affordable mortgage for owning properties, and also provide legal frameworks to our potential clients for them to make informed decision concerning property acquisition in the UK.
According to him, Baron & Cabot platform gives Africans an opportunity to invest in property with ease and without limitations, stressing that it offers 360 degree service in the industry.
“We have worked with investors across the world and impacted many from their first to fifty first properties. This expansion creates a great opportunity for African investors. We have over 150 inquiries a day, and about three to four million pounds monthly,” he added.
James Walsh, Head of Sales, Baron & Cabot Research, James Walsh said the company will greatly impact property investment and sourcing in the UK because of its understanding of the market.
“For instance, you don’t have to have been in the University or have a bank account in England. We can get you a mortgage. The UK is voted the number one most transparent country in the world for real estate. So that’s because there’s a massive amount of due diligence that goes in before a client comes in and buys anything.
“We invest more in due diligence, making sure that property is safe and investable. We’re also one of the few companies that actually has data analytics. So we have every property transaction since 97, the square footage of every single property in England. We know the occupancy rate of every single area of England.
“We’ve got the data to be able to show to the client as well. We then obviously helped with a mortgage and with a mortgage all the deeds are in the buyer’s name. They’re not in the mortgage company’s name. You own the property from day one, right?