Tel.:+7(495)646-888-3

SONER realty offers a full range of services in the UK property market. We provide help and assistance in the sale, purchase and lease of commercial, city and country property throughout the UK. Partnerships with financial, project and construction companies can provide credit services for the buyer and restoration cervices of an object.

 

The algorithm of purchasing a real estate in  in  Great Britain

 

Criteria for selecting the property are numerous. We will try to identify the key of them, but the first and foremost the choice of object depends on your goals:
 for personal permanent or temporary residence,
 as a kind of long-term or short-term liquid investments,
 for subsequent sale,
 for rental purpose.

Purpose defines all other selection criterion:

111.jpgLocation
Undoubtedly, the most liquid real estate is concentrated in and around London. London is divided into nine zones. The first and second zones are forming the center of the City. The most prestigious and expensive areas of the center are Belgravia, Mayfair, Knightsbridge and Chelsea. At the same time London – is a city of contrasts. On the outskirts of this metropolis there are areas with an almost rustic way of life, where you can easily get comfortable private house in a clean area within walking distance of the London subway station. In London there are areas with traditionally high demand for rental apartments – thereу you should buy a property for rental purpose. The southern areas of London are the least welfare.

House types
Property in England is usually divided into the following categories:
Apartments (flat) - apartment in a tower block,
Terraced House - the walls of your house are the common with the adjacent buildings to the right and left,
Semi-detached House - a house divided for two families (one common wall)
Detached House - detached house.

Ownership
Under English law, real estate can be owned under «freehold» or «leasehold». Buying a house freehold, property, together with the land where the house stands, you are responsible for maintaining both a plot and a house in good condition. Leasehold involves transferring to you the exclusive rights of the facility ownership for a specified period of time, which can range from 1 year to 999 years. In this case you will pay an annual ground fee to the owner of the land allotment (landlord) - "land rent", which is usually amount 200 - 300 pounds per year. This payment is not, in any way, the market value of the land, but merely is a reflection of the fact that property stands on the plot owned by the landlord. In recent years, property management is transferring to the special companies. These companies provide maintenance of utilities and monitor objects located in the joint use of tenants (stairs, elevators, gardens, etc.). Managers of the company collects from the tenants pay for utilities. This fee varies depending on various factors. In central London the cost of public services can reach 2,500 - 10,000 pounds per year, depending on the flats’ area, building depreciation. Buying property on the basis of leasehold, pay attention to the lease term remains. Remember that by its end you will reach a settlement with the owner of land on the new basis, the owner may require you to pay for lease prolongation or even refuse you in prolongation. At the same time not be afraid of this category. Thus, it is absolutely normal for apartments in apartment buildings. And for private homes, it can be advantageous for the duration of the lease term of 100 years or more.

Area / number of rooms
Housing in the UK is estimated, as a rule, by the number of bedrooms. The value specified for an apartment / house is based on the number of bedrooms, and very rarely by per square meter. Typically, in addition to any bedroom apartment there is a living / dining / kitchen, which is also often referred to as room for breakfast. thereby, for example, 3-bedroom apartment can be called a four-room. Also it is important the number of bathrooms, particularly when you choose a house.

Transport
When buying a home it is worth to pay attention to its transport accessibility. Public transport in Britain is developed very well. Furthermore, for example, in London, it is the public transport, more than a personal car that is the main and most convenient transport facility. Thereupon, the proximity of the subway station or the railway is in a great importance. It is particularly important to consider this factor, if you are to purchase an apartment for the rent.  

58.jpgSchools
If you get housing for yourself or for your children you should take care of its proximity to schools and other educational facilities. For example, the best schools for children are concentrated in North London and if you have children of school age, we recommend you to consider this area as a priority. In any case, if you seek the qualified support, our experts will appreciate the area’s infrastructure where the selected object is. In addition to these criteria, you should take into account a number of nuances: the date of the house construction, the presence of parks and gardens nearby, especially layout features and a permit to conduct repair work, etc. In the UK there are hundreds of real estate agencies, including large, having a network across the country, and small, who have one - two offices. Agencies, which have already existed for several hundred years and, by contrast, emerged several years ago. How could you find your property? Based on its objectives and financial capabilities, you should determine where, in which county of the United Kingdom you want to find the object.
Does the possession of property the right to British citizenship?
No. Real estate ownership in the UK by itself does not give to owners any right to permanent residency in the country; the owners also do not have any privileges in terms of immigration laws.
Real estate as an investment
Investment in UK property is the safe and liquid investments that generate income from the rental, as well as from the subsequent sale. Low-interest mortgage and the beneficial current exchange rate of the pound also make the investment more attractive.

Real estate as an investment
Investment in UK property is the safe and liquid investments that generate income from the rental, as well as from the subsequent sale. Low-interest mortgage and the beneficial current exchange rate of the pound also make the investment more attractive.
Why the UK?
British real estate always carries a price. United Kingdom is located on the islands, which leads to an acute shortage of land. Also population is growing, housing is not enough and, accordingly, prices constantly are rising. In part, the scheduling 2012 Olympic Games in London also contribute to this fact. Even the economic crisis has made the acquisition of real estate in this country more profitable: the pound has fallen against the euro, that is why the alternative price of objects in the euro is now much more attractive. The value of the UK  real estate forms the 60 % of the Great Britain value. Researchers at the British government department of National Statistics (Office of National Statistics) in its annual report estimated that all financial and nonfinancial assets worth 6.5 trillion UK pounds sterling and 60 per cent of this amount relates to the property. Total for the year 2006 the cost the country grew by more than 5 percent (326 billion pounds).Residential real estate becomes more expensive more quickly, its market value over the past ten years, during the Labour government is in power has increased from 1.42 to 3.91 trillion pounds. Since 1948, when Great Britain was worth 551 billion pounds, the kingdom became more expensive in 11,7 times. Growth in housing prices on average were higher than the general. So, if in 1948 a house in London could be bought for 3000 pounds, now in the same area it costs about half a million pounds.
Housing in the UK will rise in price by 40 percent in the next five years - said in published in August 2007, research organization National Housing Federation (NHM). The average price of homes, thus will exceed 300,000 pounds. In London, house prices will be even higher.
The process of buying housing in the UK
Following standard procedures for processing real estate transactions in the UK. This scheme does not include involvement of a mortgage loan. Once you identify and select the property that you want to buy, you make an offer to buy this property. Depending on market conditions, your proposal may be based both on the full market value, exhibited by a realtor, and at a lesser price, you would be willing to pay for a desired property. As soon as the question of cost is accepted in principal between the parties the transaction is in hands of solicitors.

 

66.jpg

The process of buying housing in the UK
Following standard procedures for processing real estate transactions in the UK. This scheme does not include involvement of a mortgage loan. Once you identify and select the property that you want to buy, you make an offer to buy this property. Depending on market conditions, your proposal may be based both on the full market value, exhibited by a realtor, and at a lesser price, you would be willing to pay for a desired property. As soon as the question of cost is accepted in principal between the parties the transaction is in hands of solicitors.

11.jpgRe-registration
All the names of property owners recorded in HM Land Registry. Registration Tax (stamp duty - stamp duty) between 1% and 4% should be paid to TR1 in Inland Revenue (tax authority of the UK), after which your documents will be stamped, indicating that the tax revenues on real estate transactions were paid. Stamped documents are send to the Land Registry for registration. The value of stamp duty depends on the value of real estate:
• if the value of the property less than £ 175,000 - stamp duty is not payable
• 1% - when property values 175.001 - 250,000 pounds
• 3% - when property values 250.001 - 500,000 pounds
• 4% - when property value of £ 500.001 and more.
The tax is charged as a percentage of property value, but not the value of its contents and additional objects, acquired along with it. An additional fee of from 60 to 500 pounds to be paid at registration, its value again depends on the value of real estate.


London45.jpg