Buyers Guide
Advice on buying UK Property
You have found a property you wish to purchase in the United Kingdom UK what next?
Buying Property in United Kingdom - Costs of Purchasing UK Property
UK Buyer's Guide explains the legal fees, legal procedures, purchase taxes and mortgage procedure.
Below are some brief points in purchasing property in the UK.
The process of transferring UK property ownership from one person to another is called conveyancing.
You can choose between a solicitor or a licensed conveyancer to do this for you.
If using a UK solicitor, make sure that they are experienced in the field of conveyancing as not all UK solicitors do this work.
If using a licensed conveyancer make sure they are licensed by the Council of Licensed Conveyancers (in England and Wales only.)
Before you make your decision, it is advisable to find out the likely costs of the conveyancing.
Make sure you contact more than one solicitor or licensed conveyancer, as the fees will vary.
Check if the fee is fixed or if it depends on the amount of work involved. Check to see if the figure includes stamp duty, search fees, land registration fees, other expenses, VAT, and get a breakdown of these costs.
Also, find out what charges will be sought if the sale doesn't progress to the contracts being exchanged.
From having your offer accepted, it can take up to 7 weeks to exchange contracts on UK, a member of the European Union, real estate.
From exchange it can take up to another 4 weeks to completion. This is not an exact time scale but a guideline. Should there be any problems this process could take longer.
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These guidelines are meant for guidance only and describe a straightforward purchase scenario. However this information is not meant to replace proper legal advice, which we always insist you take.
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