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Hi
I want to buy property on leasehold and it is on Linthorpe road middlesbrough. The reason of buying it is that I want to run a business over there. So I want you to assist me with my queries such as how can I buy the property on leasehold and secondly how can I transfer money for business in uk.
 

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Hi
I want to buy property on leasehold and it is on Linthorpe road middlesbrough. The reason of buying it is that I want to run a business over there. So I want you to assist me with my queries such as how can I buy the property on leasehold and secondly how can I transfer money for business in uk.
There are a number of things to remember if proposing to buy Leasehold.

Leasehold means you will only ever own the Building and NOT the Land it stands on.
Leases can vary in length, anything under 80 years remaining will make it very difficult if not impossible to Mortgage.
If you wish to run a Business, it is important the acitivity you plan is allowed within the terms of the Lease, otherwise you could be in Breach and the Freeholder will have every Right to terminate the Lease.
Not only do Leasehold Agreements need reading VERY carefully( it is essential a Lawyer gives advice), if running a business you must ensure the Local Authority do not have Restrictions for the Area.

Transferring money is best done by a Bank, i.e. your Bank in Pakistan to an account in the UK as "Money Laundering Rules" must be observed.
 

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Hi
I want to buy property on leasehold and it is on Linthorpe road middlesbrough. The reason of buying it is that I want to run a business over there. So I want you to assist me with my queries such as how can I buy the property on leasehold and secondly how can I transfer money for business in uk.
Hi,
I have similar question, as I intend to a property in UK for Buy-To-Let. And I would like to ask whether individual mortgage or business mortgage is better. Any suggestion? Thanks.
 

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Hi,
I have similar question, as I intend to a property in UK for Buy-To-Let. And I would like to ask whether individual mortgage or business mortgage is better. Any suggestion? Thanks.
If you propose to buy a LEASEHOLD property for Buy to Let any Lender you find is highly likely to want a significant Deposit. The Lease will need to have at least 80 years remaining and free of any overbearing Conditions. Needless to say, from a Business stand point the Lender will want guarantee their Funding is not at risk.

Unless you are intending to live in the property, personal Mortgage would be practically impossible to find.
 

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If you propose to buy a LEASEHOLD property for Buy to Let any Lender you find is highly likely to want a significant Deposit. The Lease will need to have at least 80 years remaining and free of any overbearing Conditions. Needless to say, from a Business stand point the Lender will want guarantee their Funding is not at risk.

Unless you are intending to live in the property, personal Mortgage would be practically impossible to find.
Thank you for your reply. Thus, you suggests Business Mortgage is the ONLY way for BTL. Right?
Any recommended bank(s) for Business Mortgage? Thanks.
 

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Thank you for your reply. Thus, you suggests Business Mortgage is the ONLY way for BTL. Right?
Any recommended bank(s) for Business Mortgage? Thanks.
Yes, most unlikely any Lender will entertain as a Personal Loan. London and Country are a lender who comes to mind.
 
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