UK Buyer Guide
The UK real estate market is one of the most transparent real estate markets in terms of regulation, real estate and property laws. These factors have increased the attractiveness of ownership by all investors around the world for investment, living and housing purposes during annual vacations. The main types of ownership in the British residential real estate market are divided into two types: freehold, freehold and fixed-term ownership, called Leasehold, and we will review the difference between these two types of ownership. As we have already mentioned that the first type is called Freehold, where this type allows the buyer to own the property and is entitled to disposition of the sale and rent and accommodation in it and enable others to stay in it .. a permanent property uncontested by anyone. The second type is called Leasehold, in which the buyer does not own the property and is not entitled to dispose of it completely. However, he has the right to dispose of it and to stay in it and to enable others to stay there within a specified period of time. And 999 years. Although Leasehold is similar to a lease, it is very difficult to terminate this contract in order to preserve the right of both parties. To clarify the difference between the two types, the Freehold is short purchase of the eye of the property so that ownership is transferred completely to the new buyer, while the Leasehold is just buy the right to live in the property and use it within a specific time period property ownership after the end of the period to the original seller.
Facts and figures about the British residential real estate market:
The annual average for residential property prices has risen 7% annually since
1980 to 2015.
In 2015, the average price of a home in Britain was 279,000
In 1988, the residential real estate sector achieved the highest rise of 25.6%, the highest since 1980.
The residential real estate sector recorded the worst decline in 2009, reaching 7.6%, the highest since 1980.
During the year 2006, the British property achieved the highest percentage of real estate transactions in terms of number of units with the number of units traded 1.67 million units.
During the year 2009 the British property has fallen in the real estate transactions in terms of the number of units as the number of units
Traded 850 thousand housing units.
During the year 2015, real estate transactions in terms of number of units amounted to 1.23 million housing units.
The number of new properties developed in 2015 has increased by 152,440 units.
Total housing units in the UK reached 28.1 million units by 2014.
Investment incentives in the British real estate market:
The UK real estate market is one of the most transparent real estate markets in the world in terms of availability of historical real estate information and systems
And acquisition laws.
Provides many consulting houses for all professions related to real estate investment, such as real estate management companies, real estate investment management and leasing,
Legal and financial examination companies for real estate investments, and tax service companies.
Offers the right financing offers and competitive interest rates to finance investment in the UK real estate sector for all investors from around the world.
Easy to get out The British real estate market is one of the most active real estate markets in terms of liquidity and the volume of real estate transactions, which is one of the important attractions for the domestic investor and foreign.
The decline in the pound sterling after the British exit from the European Union.
The UK government offers several types of financial support for ownership, which contributes to increasing demand for property.
Steps to buy properties under development in the British residential real estate market:
The decision to buy a property outside your country is not a simple decision so do not hesitate to visit the city and the region to be bought or invested. Browse our site where you will find many projects in the most important British cities, and you
A field visit to the sites of these projects to know all the details and components of the project and the region and services nearby, and choose the most appropriate project.
After selecting the most suitable project, you should start applying for mortgage offers if you want to buy through finance.
Reserve the property by paying £ 1,000 to £ 5,000 to ensure that the unit price is not changed and that all the details of the unit are written
Purchased in the booking receipt, and received a copy of the purchase contract to be reviewed.
Set your solicitor (Solicitor) to follow the procedure for completing your purchase.
Review the purchase contract carefully with your attorney and make sure you know all your rights, duties and payment plan.
The payment of the first installment, which is usually 5-10% of the value of the property and the signing of the final purchase contract including the payment plan.
Steps to buy existing properties in the British residential real estate market:
Invitation to Treat The owner of the property is intended to negotiate the price and exchange detailed information about the property, and the informal offer can be withdrawn at any moment other than the formal offer. Contract and complete the purchase.
To appoint a Surveyor to evaluate the property financially and constructively.
Review all legal matters and final details of the purchase with the lawyer and review the resident report to make a final offer Offical Offer Here the lawyer often asks the buyer to transfer the amount between £ 10,000-1,000 to the legal office as a guarantee of the seriousness of the offer.
The solicitor submits the formal offer and, upon acceptance by the seller, the transfer of ownership and the payment of the completed consignment shall be initiated.
When converting the value of the property, we recommend that it be carried out through a live exchange company When converting the value of the property, we recommend that it be done through a money exchange company where the exchange rate is always less than the exchange rate in banks, which allows him to save up to 1% of the value of the property.
Determining the purpose of buying the property whether for investment or for family use.
For investment purchase purchases must be made in major capitals or cities and in locations very close to the Civic Service Center.
Be sure to visit the country and city you want to buy yourself and try to spend two nights with a minimum.
Be sure to buy from the developer directly or from the real estate marketing company approved by the developer only.
Request a copy of the marketing contract between the developer and the marketing company that includes the name of the project you wish to purchase.
Find the developer's history and previous work.
Ask random sample data from the company's marketed clients and communicate with them to see their experience. See the license of the marketed company and whether it is among its purposes real estate marketing activity.
Before signing the contract, ask your lawyer to confirm the following:
Ensure the commercial developer's license and construction permit and that the land document in the name of the developer and the release of the mortgage or any financial obligations or legal proceedings.
Make sure to include in the contract all the details of the unit you want to purchase such as the name of the project,
Project title, net and total unit area, the role where the unit is located, scheme
The construction of the unit in addition to whether the unit has a special car position or not.
The addition of an explicit clause in the contract that the developer owes financially and legally in case of delay in delivery of the project or the project can not be completed.
Adding an item that allows the buyer to recover his full money in the event of delay in the delivery of the project.
The addition of an item allows the buyer to receive a monthly delay fine paid by the developer in case of delay in delivery of the project.
The lawyer will give you a detailed explanation of all your current and future rights and obligations regarding the property you wish to own.