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Buy-to-let is dead," say lessors, as they begin to buy businesses instead.
Instead of investing in conventional housing, they are turning to alternative sources such as stores, eateries and office space. "We bring many investor into our rent bargain because of the changes in buying. You are less likely to be offering only interest-based mortgage loans and often only lending for the duration of an established tenancy agreement, which may be too brief to pay back the entire loan.
"It' s an iliquid market, so the creditors want to see how you repay the principal during the term of the loan," he said. As a rule, they allow a pure interest rate at the beginning, after which the principal must also be paid back. Check the conditions in advance beforehand and arranging any financing if you need to rent to buy the property on which you have your eyes.
Mortgage rates also tended to be floating, with a spread above the base rate or Libor.
Buy legal Slovenia
You can buy real estate in Slovenia on the base of your earnings in your home state. Typically 50% - 70 is the maximal loan at value and mortgage loans are available only on a payback facility. When you buy from a broker, you have to give him a percent of the sale value.
On the Slovenian side, the agency works on instructions from the vendor and the acquirer of the property. Average fee for an agency is 4% + DDV (20% VAT) and is divided evenly between buyers and sellers. In addition to the brokerage fee, there are charges for the translations of agreements and documentation (partly by a sworn translator), as well as rights (depending on what is included in the brokerage fee).
Even if you want impartial counselling, it must be included in the costs. In Slovenia surveys are not carried out frequently - but you can use this service, a poll is not costly and many foreign purchasers like the convenience of having it carried out. As soon as you have found the property in Slovenia you want to buy and your bid is approved, there are some things you need to do before the sale can be completed and they are below:
Real estate purchasers can purchase their real estate in the area where they want to buy their real estate. A down payment of 10% is usually necessary to protect the property. They should make sure that you are satisfied with the agreement and seek local unbiased counsel. In Slovenia it is not usual to conduct a formal property appraisal, but most overseas real estate developers do so.
Subsequently, an enrolment request for your interest will be filed with the land registry and an agreement will be reached for an interview during which you can take ownership of the property from the vendor. In Slovenia, the real estate purchase procedure serves to provide protection for buyers and sellers and can be concluded from beginning to end within about a months.
With a good real property broker you will be guided through the entire procedure so that all your juridical affairs are handled smooth and the sales proceeds with a minimal amount of effort.