Where is the best place to buy a house in the UK and how much does it cost to buy a house in the UK?

The cost of buying a house in the UK actually depends.

The specific area and location, but also depends on the specific project, generally when buying a house in the UK, pay a deposit first, the deposit usually ranges from 2000 to 5000 pounds, and the deposit is non-refundable; After signing the contract, a 10% down payment is paid, followed by a 5%-10% repayment, and finally a final payment at the time of delivery, so the cost of buying a house in the UK depends on the price of different projects. For details, you can ask JLL Jones Lang LaSalle.

The cost of buying a house in the UK refers to the cost of the house or other expenses other than the house price, I have consulted JLL consultants before, and I learned that in addition to the house payment, you may also need to pay stamp duty, property registration fees and other property-related expenses, but these do not worry, JLL Jones Lang LaSalle will help.

Nowadays, more and more Chinese are going to buy houses in the UK, and for those who are buying a house in the UK for the first time, they do not know some strategies for buying a house in the UK. So, let me share with you how to buy a house in the UK, as well as the strategy for buying a house in the UK, you can understand.

1. How to buy a house in the UK.

Chinese buying a house in the UK need to appoint their own lawyer, and the buyer's lawyer will liaise with the developer's lawyer on all relevant purchase procedures. The buyer's lawyer is responsible for the investigation of the property, ensuring the legality of the property rights, as well as the sale and purchase contract or lease contract; If a loan is required, the buyer's lawyer will be responsible for contacting the buyer's designated bank and completing the mortgage process.

2. Buying a house in the UK.

1. Determine the total budget for the purchase of a house.

It's the same as when we buy a house in China, you have to determine your own budget. Buying a home in the UK requires a down of 5% of the total price of the house, and the more you pay, the lower the mortgage rate will be. In addition to the deposit, there are also attorney fees, stamp duty, investigation fees, transportation expenses, etc.

2. Search for a suitable house.

After determining your budget, you need to start looking for the right one that fits your budget, and it is very important to find the right one, especially the choice of location, environment, and transportation.

3. Negotiation.

When you are sure that you want to buy this house, you can negotiate the price. You can go through a professional consultant to understand** and whether you can negotiate**.

4. Sign the contract and purchase insurance.

The lawyer will investigate the house, and if there is no problem, you can bend the simple sales contract and pay the balance according to the time agreed by both parties. When buying a house in the UK, you must have home purchase insurance, which includes two types of insurance: the building and the contents of the house, which have a certain amount of protection for the house.

Article summary: The above is how to buy a house in the UK and the relevant content of the UK buying strategy shared by Xiaobusheng editor, I hope it can help you. If you also want to buy a house in the UK, you can buy a house smoothly by mastering the above strategies first.

Here's how to buy a house in the UK:

1.Budget planning.

Buying a house in the UK first requires the bank to determine its own loan amount, calculate the funds available for the purchase of the property, reserve room for miscellaneous expenses, and consider one-time fees and property holding costs.

2.Pick a property.

Be sure to clarify the purpose of buying a house in the UK, sort out your needs (location, interior and exterior configuration of the residence, check-in time, etc.), and find a professional UK property consultant to search for suitable properties.

3.Pay a deposit.

The buyer** and entrust the real estate agent to negotiate**, ** is accepted, the reservation is signed and the deposit is paid, and the transaction is preliminarily reached.

4.A lawyer intervenes.

After signing the purchase order, a lawyer needs to intervene (dealing with the transaction and financial aspects, investigating legal issues such as the legality of the purchase of the property). When buying a house in the UK, UK law requires a lawyer. A professional real estate agent will also recommend a reliable lawyer for long-term cooperation.

5.Sign the contract and make a down payment.

Within 21 days from the date of receipt of the seller's solicitor contract, the buyer's solicitor exchanges the contract, both parties sign it, and the down payment is made, and the transaction to buy a house in the UK is officially established.

6.Loan application.

Loan applications are submitted 3-6 months before the completion of the property in the UK, and if the buyer meets the lender's requirements, the bank will provide the loan details to the buyer and the buyer's lawyer. If you need a loan to buy a house in the UK, it is advisable to plan as early as possible to prevent the loan from falling out at the time of delivery.

7.Home inspection and delivery.

2 weeks before the final completion of the property, the owner who has obtained the keys to the house can go to the home inspection to inspect the facilities. At the same time, the seller's lawyer provides a certificate of completion, the bank disburses the loan according to the approved loan amount, and the buyer pays the balance. When buying a house in the UK, you must pay attention to all aspects of acceptance.

8.Tax Transfer.

Stamp duty is paid through a lawyer, who then applies for land ownership registration for the buyer; After the registration is completed, the land registration department issues a land certificate confirming that the registrant is the owner of the property. Buying a house in the UK is almost complete.

As the first step in the life of immigrants in the UK, most Chinese immigrants will choose to buy a house in the UK, and there is a big difference between the policies related to real estate market penalties in China and the UK. Let's take a look at how overseas investors can buy a house in the UK.

1.The first is to negotiate the house price. The buyer bids for the selected property, and after repeated negotiations with the seller, the buyer and seller finalize the final transaction**;

2.The second is housing appraisal and appraisal. The appraiser will make a detailed report summary of the building structure, current condition and safety factor of the house;

3.The third is to verify the registration file of the house ownership. The buyer's lawyer checks with the National Property Registry to see if the registration file of the ownership of the house is genuine;

4.Fourth, sign the contract. If there are no major problems with the registration file of the house and the actual background information of the property, the buyer's and seller's lawyers will start drafting the contract for the sale and purchase of the property, and the terms and conditions of the contract are in accordance with the regulations.

Once the contract is signed, the property transaction will be protected by law. Usually the buyer will pay the seller 5-10% of the price as a deposit at this stage;

5.Fifth, the completion of real estate transactions. For the vast majority of private treaty transactions, it usually takes 1 month from the signing of the contract to the completion of the final transaction, i.e. the payment of the house.

During this time, buyers generally prepare for a new home; The bank will also use this time to transfer the loan applied by the buyer to the buyer's lawyer, and eventually go through the seller's lawyer and enter the seller's account. The name of the purchaser will then be recorded in the National Property Registry's registration file.

Precautions. The biggest difference between buying a house in the UK and buying a home in China is that buying a house in the UK requires an individual buyer to hire a UK property lawyer. The lawyer is mainly responsible for drafting the purchase contract; tax issues related to the purchase of a home; Assist in the transfer of ownership of the property.

Ensuring the security of the purchase money; Guarantee the legal and orderly purchase of property in the UK.