Our property solicitors in London assist local and foreign investors who are interested in purchasing various types of real estate in London or throughout the UK.
| Quick Facts | |
|---|---|
| Can foreigners buy property in London? | Yes |
Types of residential properties in London | – apartments, – terraced houses, – semi-detached and detached houses, – mansions, – cottages |
Real estate agent use | Commonly yes |
| Real estate agent fees in the UK | Between 0.9% and 3.6% of the property value |
| Land ownership for foreign nationals in London | Yes. Conditions may apply. |
| Deed registration | Mandatory |
| The London agency dealing with property matters | The HM Land Registry |
| Provisional agreement | Can be used. Our London lawyers can give you more details. |
| Initial deposit | 10-15% |
| Property due diligence | Highly advisable for all purchases |
| Mandatory representation by a UK lawyer | Not mandatory, however, highly advisable in all cases |
| Property purchase taxes and other costs | Stamp duty tax on properties over £250,000. Other taxes can include notary and conveyancing fees. |
| Reasons to buy property in London | – high rental demand, – a very sound investment option, – high capital appreciation |
| Assistance for individual buyers | Checking the property title, help with drafting and/or reviewing the purchase agreement, other solutions as needed. |
| Assistance for corporate buyers | Specialised assistance in commercial and residential investment and development. Legal advice and representation from our real estate lawyers in the UK. |
Table of Contents
Can I buy a property in the UK as a foreign national?
There are no nationality restrictions on property purchases in the UK. Moreover, you do not have to be a UK resident to be able to buy a property.
What are the key steps for property purchase in the UK?
If you want to buy an apartment in London, the following steps are essential:
- Determine your budget: property prices in London can be high, so the first step is to see what mortgage you can receive, based on your financial situation;
- Search for the property: most individuals who buy a house in London will need to view several properties before they decide on one that is right for them;
- Make the offer: this is a step during which you can request the assistance of a lawyer in London, such as one of our real estate attorneys; we will help you make an offer that will be accepted;
- Start the purchase process: once the offer is accepted, our team will help you with the conveyancing process when you buy an apartment in London, as well as with booking a house survey when you purchase a house;
- Register the new ownership: this is done by the conveyancer with the Land Registry. You will also pay the stamp duty at this time (see below for details).
What can your conveyancing solicitor help me with?
We list some of our main services below:
- Residential: assistance for individuals who are looking to buy or sell a property; we are keen on working with first-time buyers and are able to guide them throughout the entire process;
- Commercial: complete legal assistance for local and foreign investors involved in real estate projects, office buildings leasing or acquisitions, investments in restaurants and other types of properties;
- Lease extension: assistance for clients who are interested in extending their lease, who need a new lease, or those who are interested in the right to manage issues;
- Others: we also advise clients on shared ownership schemes or tenancy in common.
We invite you to watch a short video about the property purchase process in the UK:
What are the general taxes associated with property purchases in London?
Several costs should be taken into account, in addition to the actual price of the property. These include:
- Home survey fees;
- Costs for additional due diligence verifications;
- The agreed conveyancing fees;
- Mortgage fees, as applicable. These are important in the case of residents and citizens who can take out a mortgage. Mortgages may also be offered to non-residents; however, the options are limited in this case.
Our conveyancing solicitors also exemplify the applicable stamp duty land tax rates:
- If you buy a house for £250,000, you pay 0% stamp duty tax on the first £125,000, 2% on the following £125,000, and 5% on the final £45,000 of the amount.
The stamp duty tax rate is imposed by the UK Government, and it depends on:
- When the property was bought;
- The cost of the property;
- If the buyer can apply for a relief of an exemption from this tax (generally applicable to first-time buyers, but also in other cases).
Additional rates are paid by individuals who own more than one residential property. Other taxes can apply.
Can you help me sell a property in the UK?
Yes. Our property solicitors in London assist both buyers and sellers. If you want to sell your house or another type of property located in London or in another part of the UK, we can help with:
- Checking how much mortgage you owe (if this is the case);
- Property valuation (to ensure a correct price estimate for your home);
- Making the price offer, negotiating the price, and accepting it;
- Contract drafting and vetting;
- The transfer of ownership (also known as the “completion” of the process).
Moreover, we can help homeowners sort out issues related to selling a rented property. In addition to the steps listed above, this involves:
- Checking if any additional taxes are due (such as the capital gains tax);
- Giving a proper notice to the tenants.
Do you offer legal assistance to tenants in the UK?
Upon request, our team can offer answers to questions concerning:
- Fixed-term tenancy agreements;
- Short-term tenancy;
- Your obligations pertaining to repairs, insurance, rent payment, and others.
When should I contact your conveyancing solicitor in London?
In most cases, seeking specialist conveyancing solutions is recommended from the very beginning of the transaction. This way, the lawyer or conveyancer can handle the process from its initial stages, can recommend a property due diligence, and will be able to draw up any required documents.
Contact our property solicitors in London for more information about our services.
