Buying a house in UK

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Mybalkan
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Buying a house in UK

Postby Mybalkan » Thu Apr 05, 2007 1:15 pm

Hello
Friends of mine will be looking to buy a house in Cambridgeshire next spring.
They were wondering if the Agents in UK do as Bulgarian ones - charging commission fee to both parties, i.e seller and buyer. Also what is the normal commission rate in UK?
Thanks in advance
Best regards to all

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fatso
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Postby fatso » Thu Apr 05, 2007 1:20 pm

Hi Mybalkan

The seller pays commission only in the UK and it can vary from .5% - 2%.

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Postby Mybalkan » Thu Apr 05, 2007 1:30 pm

Thanks Mike
BR
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Postby Milka » Thu Apr 05, 2007 2:01 pm

Hi Miro,

The following may also be useful (summarised from a couple of sources on the www.)

Mortgage arrangement fee (per mortgage) £300-£400
Survey - typical house insepction and report £350
Solicitor Fees - £950
Stamp Duty - Up to £120,000 - nil, £120,001 to £250,000 - 1%, £250,001 to £500,000 - 3%, More than £500,000 - 4%

Stamp duty changed in the recent budget. I'll update this for the new figures shortly (unless someone gets here first!)

M
Last edited by Milka on Thu Apr 05, 2007 2:09 pm, edited 1 time in total.

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Postby oddball » Thu Apr 05, 2007 2:05 pm


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Postby Mybalkan » Fri Apr 06, 2007 10:33 am

Hello!
Thank you very much.
It looks like my friends should sell first several houses in BG
Once again - thanks and best regards
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Postby theweeton » Fri Apr 06, 2007 11:49 am

you may try this link it lists all the recent U.K. property sale prices in the area you are looking at but you do need a street name or postcode, its free but you may need to register if you use it lots. http://www.ourproperty.co.uk/

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Postby houseman » Fri Apr 06, 2007 12:00 pm

Very useful stuff, but - Milks, you are way out with your mortgage application fees: these have been rising at an astronomical rate in recent months and you'll be lucky to get anything worth having under £500. I have just been through the process and my best deal cost £599, while others worth considering were up to £1200!!!

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Postby neets60 » Fri Apr 06, 2007 12:32 pm

Doesn't end with the mortgage though does it, has anyone mentioned the different tax bands, depending on the house, the area the cost will vary a lot, but the same thing applies we all pay loads of property tax every year to our local councils. So the spending doesn't end with the mortgage. Anyone got any ideas of tax band costs in Cambridge?
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Postby theweeton » Fri Apr 06, 2007 1:42 pm

I will ask the obvious question that seems to appear with every property post so why not this one, is "your friend" buying it as an investment, holiday, live and work or retirement home.
If you are looking to invest may I suggest that Blackpool is the English Sunny Beach and there wont be much of a culture shock if your friend is bulgarian all the property is tired and in need of bringing into the 20 century at least.

Liverpool and Newcastle are similar to Borgas and Vana both being seaports that have undergone a certain amount of regeneration a good place to work or start a buisness but there may be a language problem even other brits cannot understand what is being said in the pubs.

For retirement may I suggest Devon and Cornwall the infrastructure is similar to that of the southern baltic coast and although the pace may speed up it should be comfortable enough.


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