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Should you only be able to buy property if your a UK citizen

Discussion in 'Personal' started by oldsomeman, Feb 17, 2016.

  1. oldsomeman

    oldsomeman Star commenter

    I was enjoying watching the marigold hotel folk on tv recently
    I was struck how in India you can not buy property in India unless you are an Indian citizen.only rent.
    I just wondered it that would be a good point to have in our laws. Might stop the vast buying up of properties by foreign owners especially in London.and i believe spreading over the country as non UK citizens dump their wealth legally in to the UK
    Today i have researched through all the registered rented properties in Waltham Forest..so far some 35,000 and rising.....a huge number are owned by one or two landlords and many my a variety of names.I have know way of knowing if they are UK citizens of course....but its not surprising that folks cant buy their own home but that's a different issue. i would like to know though if many of the 'European names' are indeed like my neighbour next door EU folk who are settling and buying.
     
  2. coffeekid

    coffeekid Star commenter

    I'd like there to be some sort of law against buying second/holiday homes that sit empty for most of the year. My father in-law lives in a really pretty place called Cromarty in the Black Isle in the Highlands. It has too many holiday properties and the town suffers because of it.
    It's not "foreigners" that are buying them though, it's people from all over the UK.
     
    InkyP likes this.
  3. oldsomeman

    oldsomeman Star commenter

    Last time I was I Mull and arren I heard a lot of complaints as i talked to locals( get me listening to locals) They were complaining how the Glasgow and Edinburgh folk had bought up a lot of property and pushed up the prices.
    Strangely, I also found a lot of English folk up there running business'...You would have thought the local folk might staff the hospital.yet most again ex English and now adopted Scots.
     
  4. Flere-Imsaho

    Flere-Imsaho Star commenter

    I thought any English people had been driven out of Scotland by all the anti-English venom to be found here.
    :confused:
     
    coffeekid likes this.
  5. burajda

    burajda Star commenter

    Should British people be allowed to buy property abroad? Spain, France, Florida, etc. 2 million of them have.
     
    Burndenpark, coffeekid and sabrinakat like this.
  6. oldsomeman

    oldsomeman Star commenter

    Its a good question Burajda.but i did ask in relation to India where it seems you cant unless your a citizen.
    Maybe those countries need to make a similar rule?
    For ourselves i was thinking in relation to vast amounts of Russian, Chinese and Arab money being poured into the country.not to buy to settle but to speculate and make cash.

    Actually I also feel they shouldn't be allowed to own UK industries and businesses outright...as in Brazil where you have to have a Brazilian head of company and china where the state retains control of half of any business owned by foreigners. However that another issue. .
     
  7. InkyP

    InkyP Star commenter

    I don't mind as long as they live in the property and are not just buying as an investment to stand empty.
     
    monicabilongame, coffeekid and wanet like this.
  8. peakster

    peakster Star commenter

    So what about all the Brits who have bought properties in Europe then.
     
  9. FritzGrade

    FritzGrade Senior commenter

    Is the OP proposition limited to individuals, indiiduals and companies ,residential property, individual residential properties? The question is more complex than it appears.
     
  10. burajda

    burajda Star commenter

    India? You didn't mention India in the thread title, but of course foreigners should be able to buy here and invest here, but only when we have reciprocal agreements and ensure they pay a fair amount of local and national tax and make sure that the market is not rigged to discriminate against British buyers and investors . Similarly, Foreigners should also be able to invest in businesses and industries here as we should be able to invest abroad.
    India is a protectionist state with a nationalist leaning government, it doesn't like the UK-US-EU free market style economics and wants agreements on its own terms. I believe one can invest in property there with an Indian partner, but must say I'm not sure.
     
  11. Burndenpark

    Burndenpark Star commenter

    If it troubles you so much, you could look into taking up Indian citizenship couldn't you?
    You've not really thought this through have you?
    What happens to all those companies with assets here- such as Nissan, Kraft (Cadbury), Hienz, Mars, Ford etc for which the UK is a minor, yet important part of their overall programme? Will they abandon their works and workers here or relocate- humm I wonder?
    And what about our companies with overseas interests- do you expect there won't be tit-for-tat retaliations?
     
  12. coffeekid

    coffeekid Star commenter

    I think it's expected you at least read the first post. Where India is definitely mentioned.
    :- )
     
    Alf58 and HelenREMfan like this.
  13. Duke of York

    Duke of York Star commenter

    Mind your language please. There might be children reading this.
     
  14. HelenREMfan

    HelenREMfan Star commenter

    I knew there were other good reasons we had MrREMfan become a citizen.......alas we can't afford to buy anywhere people might wish to live
    Younger daughter cannot afford to buy anything in London with at least £80K as a deposit and a probably mortgage allowed of £210K.
    I agree with you @oldsomeman and while we are on this sort of topic....where on earth is it correct that housing benefit of £3K a month be paid for a Somalian family here - and not working _ since 2008 (yes yes I know it was the DM but I have a great fear it is correct) ?
     
  15. Scintillant

    Scintillant Star commenter

    It's not correct.
     

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