Hi All,
This is my first post, so kindly excuse if i am not following proper guidelines.
I am 33 year old currently staying in London for the last two years on a Tier 2 visa. I have a monthly liability of paying an EMI for our flat in Mumbai (this property is on my wifes name as she also moved in with me to London i am paying the EMI on her behalf as she is not currently working).
As i am paying a very high rent in London i was thinking to just buying out a property out here,hence wanted to know the possibility of selling my flat in Mumbai(India) to buy a flat in London(UK).
Even though my flat in mumbai is appreciating at a good rate but i guess my rent out here is just getting wasted. Has anyone done this kind of a transaction before ?
What are the legalities in case of such a scenario what should i need to be aware of?. What are the tax liabilities ?
Any advices/directions would be higly appreciated
Regards,
Tahir
This is my first post, so kindly excuse if i am not following proper guidelines.
I am 33 year old currently staying in London for the last two years on a Tier 2 visa. I have a monthly liability of paying an EMI for our flat in Mumbai (this property is on my wifes name as she also moved in with me to London i am paying the EMI on her behalf as she is not currently working).
As i am paying a very high rent in London i was thinking to just buying out a property out here,hence wanted to know the possibility of selling my flat in Mumbai(India) to buy a flat in London(UK).
Even though my flat in mumbai is appreciating at a good rate but i guess my rent out here is just getting wasted. Has anyone done this kind of a transaction before ?
What are the legalities in case of such a scenario what should i need to be aware of?. What are the tax liabilities ?
Any advices/directions would be higly appreciated
Regards,
Tahir