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 England Real Estate has seen steady appreciation as the value of land and residences in England continues to go up. This has also led to a mushrooming of various builders and developers in England along with an increased number of real estate agents.
In Real Estate transactions in England the purchaser is not required to pay any real estate fees apart from the Government Stamp Duty Land Tax (SLDT), which is based on a sliding scale between 1 and 4%. In addition, typically, the sales commission ranges between 2% and 3% and is paid to the real estate agent by the Vendor (seller). In addition to the agent's fee, there is typically a lawyer's conveyancing fee, which is also generally for the Vendor's account. Both of those fees are subject to UK Government Value Added Tax (VAT), which is currently 17.5%.
In England, mortgages are also available to foreign buyers, subject to status. If financing is available and the property is vacant, the purchase can proceed rapidly and be completed within a few weeks. Generally, it is common to allow one month to Exchange of Contracts (when the purchase becomes legally binding) and a further month for Completion (the day of taking possession).
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