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Buying Process
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These are some of the key stages in acquiring a property in London and the approximate costs related to them.
*This information is to be treated as a guideline only. Actual costs will be determined by each service provider.
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Process
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Necessity Rating
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Approximate Fees
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Approximate Time
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Pre-Qualification of Mortgage
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Recommended
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£200-£400
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1-2 Weeks
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Appoint a
Solicitor/Conveyancer
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Recommended
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£500-£1500
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1 Week
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Property Search
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Necessary
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-
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2-3 Months
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Survey of chosen property
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Optional/Recommended
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£350-£700
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1 Week
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Make an Offer
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Necessary
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Inform Mortgage Lender of
Agreed Purchase
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Necessary
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Inform Solicitor of Agreed
Purchase
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Necessary
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Solicitor conducts all
required searches
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Necessary
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Exchange of Contracts
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Necessary
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Stamp Duty
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Necessary
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See Chart Below
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Receive Keys
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Residential Property Stamp Duty Land Tax (SDLT) - Threshold and Rates
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Purchase price/lease premium or transfer value
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SDLT rate
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Up to £125,000
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Zero
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Over £125,000 to £250,000
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1%
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Over £250,000 to £500,000
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3%
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Over £500,000
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4%
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+44(0) 20 8458 0850