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FAQs for buyers

Aside from the actual selling price, you will need to allow paying for stamp duty to the HMRC (UK tax authority), sales agent fees, survey costs and conveyance fees (legal, usually provided by a solicitor).

The stamp duty land tax is calculated according to the purchase price of a UK property.

Tax band Tax rate Stamp duty
Up to £125,000 0% 3%
£125,001 - £250,000 2% 5%
£250,001 - £925,000 5% 8%

Our find out how much stamp duty you will pay, try using our handy Stamp duty calculator

Our opening hours allow our sales agents to be present for scheduled viewings and if we have the keys to the property, the vendor needn’t attend every one.

The vendor’s agent will require a “Mortgage in Principle” document and proof of your deposit funds. Cash buyers need to provide proof of funds.

Surveys can be carried out according to the level of detailed information required. Period properties will need a Home Buyer Report or even a Full Structural Survey, these are more expensive but do provide in-depth information about any repairs or maintenance works that might need carrying it. A valuation survey will be required if you are taking a loan to buy the property.

New homes should come with a 10 year warranty, but it’s still wise to commission a snagging survey which looks for minor faults that can be corrected by the developer. We can help with this service should you require it.

Once the sale is agreed, your solicitor will undertake the necessary checks and the survey will be carried out. Depending on the size and age of the property you are buying it can take several weeks to get to a point where you are ready to exchange contracts. Investors can elect to do this remotely via their solicitor and your estate agent should be in regular contact with your solicitor to ensure the sale is progressing as quickly and efficiently as possible.

Investors in particular may require help with the furnishing and preparation of their property if buying for investment rental purposes. As well as our buying service, we also have extensive experience in letting, managing and furnishing London properties operating across London from sixteen branches and from international offices in China, Hong Kong, India, Malaysia and Singapore.

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Sales success in India

Overseas trips to visit our clients are a regular part of the diary for myself and fellow Benham & Reeves directors Anita Mehra and Vidhur Mehra. This autumn has seen a particularly busy schedule, so far involving visits to Mumbai, Bangalore and Nairobi. Anita and I will also be visiting Singapore, Kuala Lumpur and Hong Kong in November.

Recent property investment events in India

I have just returned from India, where together with our Mumbai staff and a team from Berkeley Homes we hosted a property networking event with a financial data consultancy in Bangalore. We then hosted a further event in Mumbai with Porsche India. Across these two events we met 107 attendees and received a lot of interest from Indian investors interested in hearing first hand, more about the potential of the London property market. We were then joined by our Managing Director, Anita Mehra, for the World Property Investment Show where we exhibited jointly with Berkeley Homes and were delighted to win the award for Best Real Estate Agent.The show was a great success with some of our clients coming out to show their support too. So what was the feedback we received about London property investment? Interest in the London property market is in its early stages but clearly growing and this positive attitude was evident as we discussed the current market. Following our visit, a number of investors have already booked trips to London to view residential developments with our new homes team. Most Indian buyers are investing for the long-term and favour particular areas of London, so the Brexit situation is of little concern so the outlook for them is a positive one.

Kenyan investors

Our Finance Director Vidhur Mehra, is as I write, in Nairobi, Kenya, alongside a team from Berkeley Homes. Together, they are meeting with potential investors who have responded well to our marketing efforts and are showing particular interest in areas being regenerated on the fringes of central London. Increasingly, these new neighbourhoods offer good-value in a shift away from prime central London.

Investors property talks November – DON’T MISS!

With so many new property developments now transforming the London skyline,investors need to know where to find value and growth potential. If you are considering purchasing a property in London, myself and Anita Mehra will be visiting Singapore (8th – 13th November), Kuala Lumpur (13th – 19th November) and Hong Kong (20th - 25th November) and we would be delighted to discuss current investment opportunities with you, as well as sharing our insights into the London property market. To book a one-to-one session with either of us, book your appointment here.

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