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Buying a property in London with Benham & Reeves
Everyone at Benham and Reeves is dedicated to making the process of buying property in London as smooth and as hassle-free as possible. From experienced investors to property newbies, all buyers can benefit from our expertise and local knowledge which we make available to them from the first enquiry to completion of purchase.
Whenever and wherever you decide to buy, our intuitive blend of traditional local knowledge and sixty years’ experience will instantly be at your disposal. On our website, you’ll find our easy to use property search, our buying guide and an extensive list of area guides to be invaluable resources that will save you time when looking for your London property purchase.
Our long-standing relationships with notable UK property developers ensure that we can point you towards all the best properties that London has to offer in a variety of desirable locations. With branches across the Capital we are able to bring to you many buying opportunities – some of which will not have reached the market yet.
Overseas investors need not feel disadvantaged as our international offices in China, Hong Kong SAR, India, Indonesia, Malaysia, Middle East, Pakistan, Qatar, Singapore, South Africa, Thailand and Turkey provide the same level of one-to-one service. Tri-lingual, locally employed staff keep clients firmly in the loop as they and guide them towards some of the most profitable investment targets in prime central London and the suburbs.
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.
| Property Value | Thresholds | SDLT Rate |
|---|---|---|
| Under £125,000 | From £0 to £125,000 | 0% |
| The next £125,000 | From £125,001 – £250,000 | 2% |
| The next £675,000 | From £250,001 – £925,000 | 5% |
| The next £575,000 | From £925,001 – £1,500,000 | 10% |
| The remaining amount | Above £1,500,000 | 12% |
| Company Purchase | Above £500,000 for non-natural persons where the property is not intended to be rented |
15% |
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 21 branches and from international offices in China, Hong Kong SAR, India, Indonesia, Malaysia, Middle East, Pakistan, Qatar, Singapore, South Africa, Thailand and Turkey.
Why choose Benham & Reeves for lettings and sales?
Housing market update – cash buyers snapping up London property
- Sales market update
- 25.08.23
- Benham and Reeves
London is a truly global city, an international hub for business, education and culture. And this, in part, explains why the London property market remains resilient despite interest rate rises and cost-of-living issues. Many investors are cash buyers – over half the buyers investing in Zone 1 properties
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