In recent years, Nigerians have become increasingly skeptical of businesses they can invest their money due to the prevalence of scams. As such, it can be difficult to find reliable and secure investments. However, there is one option that can provide a secure and profitable investment: UK real estate.
Baron & Cabot, a UK property investment firm, is encouraging Nigerians to consider investing in UK real estate. This form of investment comes with a wealth of information and data available online, allowing investors to make informed decisions. It also comes with a set of legal principles in place to protect investors from any potential losses. These principles assure that investors’ money is safe and secure.
In addition to the security of the investment, UK real estate is also a reliable way to build wealth. Investing in real estate has long been a popular form of investment, and it can provide a steady stream of income with online data, legal protection, and a steady income.
Over the past three years, this firm has been expanding its base to include both Kenya and Nigeria. By guiding clients from Nigeria, the company has also enabled them to invest in properties in the UK.
The founder of the firm, Mark Pearson, has been vocal about the transparency of the UK real estate market. He has praised the market for being one of the most transparent in the world, allowing Nigerian clients to make educated decisions about their investments.
Not only does this enable Nigerian clients to invest in UK properties with a high degree of confidence, but it also allows them to diversify their investments. With the UK market being so transparent, clients can make sure their investments are safe and secure. By investing in UK properties, Nigerian clients can have peace of mind knowing that their investments are protected.
In comparison to other investments, the ED noted that the great thing about UK real estate investment is its high level of regulation and the UK real estate market is widely regarded as the most transparent and highly regulated in the world, ensuring that investors can access all the necessary data and properties.
“The UK real estate market is widely regarded as the most transparent and highly regulated in the world, ensuring that investors can access all the necessary data and properties. Then the solicitors are regulated by the government and so the government checks all the solicitors and then us.
“Finally, the solicitors are ensured which means that if they made a mistake and the client lost any money, the client can sue and get their money back. and therefore that is insured, aside from that, the insurance company is also overlooking these processes because they don’t want to have to pay for any mistake by the solicitors so the whole chain of complaint which is conducted to protect all clients.”
He also mentioned that Nigerians can buy UK properties without being in the UK as protection and legal consent are assumed in the process adding that Nigerians can get started or know more about the UK property investment process and practice of converting their cash to dollars.
“Nigerians can start getting involved in buying UK Properties. Normally the process is that we have restructuring meetings whereby we educate the client over one or two different meetings on how to protect themselves in the UK, how they can invest in the UK, and how Nigerians can get mortgages from UK banks at a very low rate.
“All these are part of the process of explaining to the client and then specific data and cash flows will be shared with the client and including ways and means by which the client can cross-check the work we have shared with them. Government resources online in which they can check our work in terms of moving cash to dollars there are very different ways including the forex company that we are partnering with, who is regulated in both Nigeria and in England,” Pearson added.
Also, speaking to clear the doubt of some skeptical approach of Nigerians about investing in UK property, he noted, “The great thing about UK real estate investment is that it’s highly regulated. It’s the most transparent real estate market in the world. What this means is that all the data and the property are available. Every transaction is conducted through a solicitor, we have a solicitor in Nigeria that we’re trained in the UK.
“We have them in Lagos, so you can go and see them if you want to use them or you can use the database in England, not only that the solicit check our work, we do our duty as agents on every single property, then the solicit check our work and they do there own duty diligently for the client, then the solicitor is regulated by the government. The government checks all the solicitors and then finally, the solicitors are ensured, which means that if they made a mistake and the client lost any money, the client can sue and get their money back.”
While Baron and Cabot’s company has been serving the Nigerian market by guiding clients from Nigeria to owning properties in the UK, the Director disclosed how his company has successfully managed to gain the trust of Nigerians over the years despite the economic oscillation.
“We gain trust within Nigeria because we took the time to work with clients in the country even when it is very complex for Nigerians to buy in England and to get mortgages. Over the last five years, we were able to make the process straightforward because we were honest with the whole process and clients have made a lot of money.
“Nigerians historically have a great connection with the UK and have witnessed over the years, the strengthening of the UK pound, proxy market, and unfortunate weakening of the Naira. This means that most Nigerians are aware that investing in the UK is one of the better ways to risk investing portfolios.”
Also considering past cases of xenophobia around the world, and how it has affected the market, Pearson maintained that xenophobia has made some Nigerians not find it so easy to own properties in a foreign land or have full ownership of the properties, however, he said the cases have decreased dramatically in the Uk like any other country in the world.
“Statistics have shown a decrease in Xenophobia in the UK, like any country in the world, education is important to avert xenophobia, and mile progression within the communities is reduced through education and ongoing understanding of cultural differences.
“Xenophobia is an unfortunate part of life globally, one of the great parts of UK property/UK investment is that there are no restrictions or differences for a client investing in the country in regards to wherever they are in the world. In some cases and with Nigeria, due to the previous relationship with Britain, Nigerian clients actually get the before-tax breaks and tax deductions that a person living in England would receive.
“The process of investment, the process of mortgage and ownership are the same for a client based in Nigeria, New Zealand, and others are exactly the same as a client based in England.”
He also explained that investing in UK real estate could be a way out of poverty for both an average client and entrepreneur in Nigeria. Considering this investment method, he predicted the top benefits and its sustainability in the years to come.
“The main benefit for UK property investment whether you are a Nigerian or anywhere else in the world is the protection mechanism put in place to first of all protect your investment and give full clarity on the risks and the benefits involved. As earlier mentioned, the UK is voted to be the number one most transparent real estate market in the world. This means that not only can you make a very good return but they are considered the most transparent and safest.
“Not only that, one of the major things about Uk property is consistency. Go back 100yrs or 50yrs, 20-30 years. You will find over every 3 or 5yrs of consistent growth in property prices and the huge supply of property in England. Is very difficult to build property in England, which means that property prices continue to grow along with that, there is increasing wealth and salaries among the tenants and purchasing is driving up property values in the UK. There is much less fluctuation in the Uk market than in the global, meaning that people can invest their money in the long term, building massive passive *incurable in a lower-risk investment time.
“We never predicted that Nigeria will be such a fast-growing market. Our main market historically, we’ve Europe, Asia, and small South Africa. However, we follow where the client comes from and we have a search of interested people from Nigeria contacting our company and by word of mouth through our very first client. This led us to start a seminar in Nigeria and advertising within the country and press releases through newspapers and TV outlets.”
“We mainly created the service process that was being demanded out of the country due to the depreciation of the Naira. We have not targeted the country due to this practice and to educate ourselves about the Nigerian economy, and political and cultural parts of conducting business with the country. I have to say that Nigeria has been one of the most incredible stories for us as a company and I believe in the people of Nigeria in what we manage to achieve for them. So much so that our football team plays football in Nigeria away from football shows.”
Meanwhile, he stated the company’s targeted audience and how the organization intends to reach out to people at the grassroots noting that Nigerians wait to have multi-million in their account before they can engage in this business.
“Our organization’s target audience tends to be young families or families with children, sliding older and potentially with the eye off either retirement or indeed children university course and the rescuing the family from the devaluation of the currency. We target clients through advertisements online, through speaking to news outlets, and by word of mouth which is one of the biggest practices in our business. We also work with various cooperatives around the country and *migrate visits to conduct seminars within the country including one of the seminars we have at the end of February in Lagos.
“Some people are surprised at how little an investor will need to buy into the UK property market and it’s a belief that it is restricted to multi-millionaires. What we found is quite the opposite while we do have a small number of the elite in Nigeria and globally who will invest through our confidence.”
Pearson also emphasized that investing in the UK real estate market is becoming an increasingly popular option for Nigerians due to the growth expectations in the UK economy and the attractive mortgage rates available.
“Investors can start with as little as £50,000 and the average investment is around £82,000. An investment of this size can cover up to 70% of the average property price, which ranges from £200 to £3,000. Investors need to keep some money in savings and the remainder in investing to benefit from the growth opportunities available in the UK market. Additionally, the current political climate in Nigeria is causing many people to seek out safer investment options and the UK is seen as a secure option.”
Also addressing the question of the return profit, he said, “The UK property investment is a great option for investors looking to maximize their returns. On average, investors can expect a 10-14% return on their investment each year, as well as a 5-7% yield from rental income. Additionally, leveraging a mortgage can allow investors to multiply their returns, and with the market expecting to see significant growth shortly, returns are likely to increase even further.”
Baron & Cabot have come a long way in their journey as a company, making life easier for Nigerian investors in the UK. The firm has established processes and relationships that allow Nigerian investors to purchase property in the UK with relative ease. Going forward, the company is bringing in more technology and processes to enhance the experience of buying property in the UK. This includes the use of machine learning and AI to give clients predictions on their investments, as well as an app to keep them informed about their investments. With these enhancements, Baron & Cabot are striving to make the process of buying property in the UK as seamless as possible for their Nigerian clients.