Are you thinking of buying?
Steps for Buyers:
- Arrange your mortgage. How much can you afford? It may be more than you think! Speak to a Financial Advisor, Why not ask our independent consultant for some free advice?
- Check out the area - we can advise you about transport, schools, proposed developments etc.
- Make a checklist of what you are looking for in a property when viewing - the more information that you give to us, the better we can help you find what you want.
New for 2007: The Government will be complying with EU Legislation to introduce The Energy Performance Certificate. This will need to show how energy efficient your home is for example if the property has loft insulation or if there is double glazing. - Make your offer to purchase, which is always subject to contract, thereby giving your solicitor and surveyor time to advise you.
- Find a good efficient solicitor. We have solicitors that we can recommend - your home purchase is too important to be left to ‘cut price firms’.
- Your lender will arrange a valuation and you can also have your own survey.
- Your solicitor deals with the conveyancing process and will advise you of any problems to do with leases, covenants, searches, etc, and thoroughly check everything for you.
- We will keep in regular touch with you during the whole transaction.
- Exchange of contracts then takes place - at this point you are committed to the purchase.
- Completion date is the day you can move in! We will have your keys ready for you in the afternoon.
Stamp Duty Land Tax
Stamp Duty is the tax you pay when buying a property. This is additional to your solicitor’s fees, mortgage arrangement fee and surveyor’s fee.
| Residential property - purchase price | Rate of stamp duty |
|---|---|
| Up to £125,000 | 0% |
| £125,001 - £250,000 | 1% |
| £251,000 - £500,000 | 3% |
| £500,001 or more | 4% |
Any questions that you have regarding the buying process please do not hesitate to call us on 020 8653 3000 or email us at sales@park-regent.co.uk