Buying FAQ

No. As long as you are over 18 years old, you can buy a house in the UK regardless of nationality and visa.

Yes, you can. Not required if buying property in cash. The purchase funds can be transferred directly from the domestic or other overseas accounts to the lawyer designated by the buyer, who will run all the house purchase procedures. If it is a mortgage loan, you need to open an account in the UK. (China's overseas remittance limit is USD 50,000 per person per year)

Yes, you can. However, you need to consult a specialist lender directly

The UK property market is a legally sound market, and all purchase procedures are handled by lawyers on both sides. Except for the deposit (£ 2000-£ 10000), which must be handed directly to the developer, all other funds must be transferred directly from the buyer's bank to the designated lawyer's account for the house. When the buyer and seller determine the exchange contract, Account transferred from the buyer's lawyer to the seller's attorney. Subsequently, after completing the entire transaction process, the buyer's lawyer will register with the National Land Agency on your behalf, and you can check the registration results online.

Proof of Identity: Provide a color-scanned copy of the personal information page of your passport or both sides of your ID card.

Proof of Address: Submit a proof of address from the last three months, such as domestic or foreign long-term residential addresses with your full name for receiving correspondence. Acceptable documents include recent water, electricity, gas, or bank statements from the past three months to one year.

Source of funds: Additional documents like stocks, wealth management income, wages, dividends, or house sales contracts may be required depending on personal financial status.

This is not necessary. But in the UK, all lawyers must comply with legal requirements to ensure that their clients do not buy or invest in real estate through the profits derived from illegal money laundering crimes, so they must understand their clients and ensure the legal status of private buyers. The lawyer will also ask about the source of the property to buy the real estate. If necessary, the buyer needs to show a proof of source of funds, which includes but is not limited to the following categories:

‍A) Proof of salary income (provide at least one material): working deposit (wages, bonuses); payroll or bonus payments; employer letter; if you are self-employed, please provide company audited bank slip
b) Stock investment or investment portfolio (provide at least one kind of material): Certified investment or deposit certificate, contract and investment account cash certificate; bank slip can show investment amount; accountant letter
c) Property for sale (provide at least one material): Certified contract; Certificate of intermediary letter; Lawyer letter

Due Diligence: The lawyers will conduct due diligence on your behalf, communicate with the seller's lawyers and local government departments, find as much information about the property as possible and potentially adverse factors, and also ask questions to the other lawyer. The lawyer will ask local governments and other legal departments about potential disadvantages, such as whether nearby developments will change the natural environment or infrastructure such as roads in the area where the property is located, and whether it will cause noise pollution. This kind of information retrieval can ensure the normal supply of natural gas, water and electricity, and confirm that the property has the corresponding planning permission.

Legal documents: The lawyer will review the contract drawn up by the opposing lawyer and make necessary modifications to protect the interests of the client.

Consumption details: After getting the results of the survey and inquiry, the lawyer will issue an email explaining the real estate and the main points of the contract, and submit the contract to you for signature. The report contains all the details of the real estate and the lawyer's summary of the survey results. (The results of this investigation will affect the decision-making of the lending institution) d) Consumption details: The lawyer will also issue a payment detail list, which will list the expenditure items and the costs of each item, generally including the down payment, lawyer's fees, local land survey fees, stamp tax, etc.

Yes, there are two types of taxes that must be paid in the UK:
a) When buying a house: SDLT is required when registering a house
b) When holding a property: If you are a self-occupied person, you need to pay a Council Tax. The municipal tax is based on the area you live in, and charges range from £ 1100- £ 3000 per year, and students are exempt. In the case of rental, the municipal tax is paid by the tenant.

Stamp Duty Land Tax (SDLT): SDLT, also known as stamp duty, is a tax paid on property or land purchases in England, Wales, and Northern Ireland. The current SDLT thresholds and rates are as follows:

• Up to £250,000: 0% (No SDLT payable)
• £250,001 to £925,000: 5%
• £925,001 to £1.5 million: 10%
• Above £1.5 million: 12%

Special Rates:

• First-Time Buyers: No SDLT is payable on properties up to £425,000. For properties priced between £425,001 and £625,000, a 5% rate applies to the amount above £425,000.
• Additional Properties: If you already own a property and are purchasing an additional one, an extra 3% SDLT is applied to each band.
• Non-UK Residents: An additional 2% surcharge applies if you have spent fewer than 183 days in the UK in the 12 months preceding your purchase​ (GOV.UK)​​ 

The stamp duty must be paid to HMRC within 14 days of completing the purchase transaction, typically handled by your solicitor or conveyancer. For more detailed information, please read the UK Stamp Tax Policy.

Attorney fee: Based on the total house price, approximately between £ 1500- £ 3000, excluding 20% VAT
Miscellaneous fees: including house survey fee, house registration fee, etc., about £ 1000 (the Law Society will provide detailed payment details)
* Buying a new home in the UK does not require any agency fees

Service Charge: Based on the supporting facilities, service standards and geographical location of the project. Charges are calculated on an annual basis per square foot.
Ground Rent: Depending on the unit, generally £ 350- £ 800 per year

Crown Home Buying and Letting is a full-service agency that can assist you with lettings and management services. Find out more information about our landlord guides by visiting our landlord guides.

When selling a property in the UK, you can resell it in person or entrust an agent to find a buyer, but this transaction process needs to be completed by a designated lawyer for both the buyer and the seller. The costs to consider when selling a property are: agency fees (1.5% -2.5% of the total price of the property), lawyers' fees (depending on the sold price, usually £1500 - £4000), capital gain tax Only for the value-added income obtained from the sale of investment and renting houses, it is usually 18% of the net profit. If you sell your own home, you do not need to pay capital gains tax.

When buying a new house in the UK, you can contact the developer directly, or you can find a qualified propety agency to assist you in buying a house.

The services provided by the angency include: recommending developments, arranging house inspections, negotiating prices (for the largest discount), providing assistance throughout the purchase process, recommending lawyers and loan banks, inspecting houses, and configuring furniture and other after-sales services. The developer's service is limited to the purchase of the house, and any problems after the delivery of the house are not their responsibilities. As for agency, they will not charge any fees from the buyer, and the final price will not be different depending on which agency you choose.