Service for British expats wishing to hold UK property
Investec Bank (Channel Islands) has launched a Residential Investment Finance (Resfin) service.
Resfin has been designed to provide investors with long-term capital growth and a revenue stream derived from rental income. It is aimed at British expatriates who want to keep one foot on the UK property ladder and overseas investors wishing to buy into a strong and stable economy.
Resfin will combine the lending resource and structuring skills of the bank with the property management expertise of its extensive contact base to provide a one-stop facility to source, rent, manage and dispose of residential property in prime London locations.
London-based property agents Savills are forecasting this year's prices to rise by 5% in general, with prime properties potentially yielding more. Resfin will trade in apartments and houses from £250,000 to in excess of £5m.
The service is available for those wishing to invest upwards of £100,000 with the bank providing loan facilities for the balance.
Resfin will also provide advice and multi-currency mortgage facilities structured to an individual's circumstances. It will ensure that the investment is self-financing and provides the possibility of releasing equity to create a portfolio of central London properties. Clients can also build up a portfolio of properties within Resfin.
Meanwhile, Investec is looking at upgrading its website to offer online transactions. Mort Mirghavameddin, general manager of bank and trust at Guernsey-based Investec, said: 'We are currently in talks with system providers so clients can get statements online as well as purchase stocks and bonds from the same account.'
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From 6 April 2019