Why to invest in London?
Currently the London property market is extremely dynamic and purposeful, and is certainly one of Europe’s cities most attractive to investors. London is one of the most important global financial centres, an extraordinary cultural crossroads, a place to live and work, characterized by a high quality of life.
The simplicity and efficiency of the legal system, attract investors, aware of having clear rules and a very slender bureaucracy.
The strong market liquidity allows you to invest and disinvest very quickly in the real estate market. London is a major centre of attraction for a growing number of worldwide investors.
All the city, works for the future, the goal is to become a leader in alternative energy with consequent climate improvements, enhance the already efficient transport and accommodate the professionals around the world by building new accommodations avant-garde and respecting the green areas represent 30% of the surface area of the city.
Buy House in London
Buy a property in London, whether for investment or for personal use, needs a careful work, we aim to guide you, following with you all steps up to purchase.
The first phase of the work involves the search for suitable property; being London a sprawling city, we will advise you on the most interesting areas according to your needs. Identified the best area for you, we will send you detailed tabs of available properties that meet the characteristics required.
Found the suitable property, the practice provides for the formalization of a written offer and sent to the seller. In addition to the price offered for the purchase of the House, should be specified, any provisions or requirements. If the offer is accepted, the seller’s representative will issue a document called “Memorandum of Sale ” which summarizes all the details of the purchase.
Next step is to instruct a lawyer, said Solicitor who will do all the checks on the property and on the “Lease” agreement, if the property is Leasehold law.
This check requires normally about 4 weeks, then the “Solicitor” will send the buyer a document said, Report that contains all the terms of the contract as well as a declaration that the building has no anomalies.
The next stage is “the exchange”, i.e. the exchange of contracts providing for payment by the buyer of a deposit equal to 10% of the purchase price which will be deducted from the seller’s Attorney at the conclusion of the sale.
On Completion, i.e. the deed, is the final phase of real estate purchase, which will certify the passage of home ownership. Your Solicitor will require you to pay the difference of the purchase price and the taxes.
Taxation in London
When buying a property, in addition to the purchase price, It should be considered the sales taxation. The most significant is the so-called “Stamp Duty” calculated as a percentage of the price of the property and on the basis of the price range.
In the table below, the rates currently in force
Besides the stamp duty, thing to consider is the land tax, a flat rate depending on the value of the property
Districts of London
Kensington and Chelsea
The Royal Borough of Kensington and Chelsea is one of the most densely populated in the United Kingdom. The borough is to the west of the City of Westminster and to the east of Hammersmith & Fulham. It contains major museums, embassies and department stores such as Harrods, Peter Jones and Harvey Nichols as well as many of the most expensive residential districts in London and possibly even the world.
The borough includes the areas of Brompton, Chelsea, Earls Court, Holland Park, Kensington and Notting Hill.
Hammersmith and Fulham
The London Borough of Hammersmith and Fulham is located in West London and forms part of Inner London. Many international corporations have offices in the borough.
The borough includes the areas of Brook Green, College Park, East Acton, Fulham, Hammersmith, Old Oak Common, Parson Green, Shepherd’s Bush and West Kensington.
The City of Westminster is a London borough occupying much of the central area of Greater London, including most of the West End. It is located to the west of the City of London, directly to the east of the Royal Borough of Kensington and its southern boundary is the river Thames. Aside from a number of large parks and open space, the population density of the district is high. Many sites commonly associated with London are located in the borough, including Buckingham Palace, the Houses of Parlament and 10 Downing Street.
The most popular shopping areas are Oxford Street, Regent Street, Piccadilly and Bond Street.
The borough includes the areas of Bayswater, Belgravia, Covent Garden, Fitzrovia, Hyde Park, Knightsbridge, Maida Vale, Mayfair, Marylebone, Paddington, Pimlico, St. John’s Wood, Soho and Victoria.
The London Borough of Camden forms part of Inner London. The southern reaches of Camden form part of Central London.
The borough was created in 1965 from the former area of the metropolitan boroughs of Hampstead, Holborn and St. Pancras, which had formed part of the former County of London.
The London Borough of Islington is located in Inner London. It was formed in 1965 by merging the former metropolitan boroughs of Islington and Finsbury. The borough contains two Westminster parliamentary constituencies: Islington North and Islington South & Finsbury.
The borough includes the areas of Angel, Archway, Ashburton Grove, Barnsbury, Finsbury, Highbury, Holloway, Islington, King’s Cross and Tufnell Park.
The London Borough of Hackney is located in North East London and north of the City of London. It is currently part of the East subregion, but was included in the North subregion from 2008 to 2011. Hackney is bordered by 5 London boroughs including its sister borough Islington the west, Haringey to the north, Waltham Forest to the northeast, Tower Hamlets to the East and the City of London and Broadgate to the southwest. Also in the southwest are Hoxton and Shoreditch, the heart of the London arts scene and home to many clubs, bars, shops and restaurants.
Greenwich is a district of South East London, located in the Royal Borough of Greenwich around 5.5 miles east southeast of Charing Cross. Greenwich is notable for its maritime history and for giving its name to the Greenwich Meridian (0° longitude). The town became the site of a royal palace, the Palace of Placentia from the 15th century, and was the birthplace of many future monarchs including Henry VIII and Elizabeth I.
The London Borough of Richmond upon Thames in southwest London forms part of Outer London and is the only London borough on both sides of the River Thames. It was created in 1965 when three smaller council areas amalgamated under the London Government Act 1963. Three districts of the area are within the London postal district. The borough is home to the National Physical Laboratory and attractions such as Hampton Court Palace, Twickenham Stadium and the WWT London Wetlands Centre, which draw domestic and international tourism.
The borough includes the areas of Barnes, Hampton, Hampton Hill, Mortlake, Richmond, Strawberry Hill, Twickenham and Whitton.