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The process of searching for the right property includes several important and basic steps for those wishing to invest. Here, we have summarized the first points that must be identified and studied to start the search for the right property.

• Determining the reason or need for buying a property is the most important step in the way of research, as the main reason for buying a property abroad must be determined, and the most common reasons are buying a house for holidays and vacations, for studying or investment and returns. This step includes determining the type of property you need, taking into consideration the area of ​​the residential unit, the number of rooms, and any similar specifications and standards.
• The second step, which also controls the search for the right property, is determining the purchase budget. Therefore, real estate prices in the market in general must be known and compared with the purchasing power, and the financing authorities should be consulted if needed.
• The third step is to know the location the property, as the one who wants to buy must choose the area and visit it to learn more about the lifestyle and services surrounding the project, such as transportation, health centers, and the level of education centers if he so desires.
• We reach the fourth step, which is choosing the best property for the investor. Well-known Real Estate agencies must be consulted to examine the characteristics of the offered projects and the available units in terms of having a car parking area, a garden, a balcony, heating and air conditioning, etc.

In addition to what we have mentioned, we must take into consideration, the economic situation, security and political factors of the country and the region in which he wishes to buy, and the possibility of easy exit when wanting to resell the property.

After completing the search for the site and developer and selecting the appropriate project and property, these basic routine steps are followed to complete the property purchase process in the United Kingdom and it begins with:

• Determining the method of financing, and in this case a certified surveyor is sent to present his report to the financing authority and submit a purchase offer after approval that includes the price of the property and the detailed conditions of the project and the particular property. Meanwhile it is being done
• Appointing a trusted solicitor to represent the buyer in the purchase process, explain to the buyer all the details and conditions of the developer, follow up the construction process and ensure compliance with the agreed terms. To be after
• Ensure that the two parties agree to the conditions mentioned in the contracts, the approval of the financing authority (in the event of a need for financing) and the attorney’s approval of the terms. This stage is called the exchange of official contracts, where the developer is obligated to seize the property and hand it over at the agreed time, and the buyer is also obligated to pay the agreed amounts on time.

It is very important for the buyer to be fully aware of all the expenses and taxes that he will bear when purchasing the property and after receiving it from the developer. The property is registered, taxes and costs are paid, with the need to consult a lawyer regarding the will and inheritance

It is known that there are many tax systems when buying or selling a property in a large number of countries around the world, as is the case in the United Kingdom, where it relies on the tax system to support the strength of its economy and significantly improve the rates and figures of the economic deficit in its budget. The tax system includes several taxes and fees related to real estate, the most important of which are:

• Stamp Duty Land Tax “SDLT” which is a one-time progressive tax based on the property price and whether the buyer owns other properties or he is first time buyer.
• Income tax in the case of renting and using the property, and it rises with the increase in the annual income of the investor.

• Council Tax is the annual municipality tax, which depends on the area and location of the property, and is paid by the tenant in the event of renting the housing unit.
• Capital Gain Tax which is calculated in the event of resale of the property on the profit from the sale process.
• Inheritance Tax, is one of the most important of those taxes which makes the inheritors of UK real estate to pay sums of money estimated by the tax authority in their favor.
• Service & Estate Charges where the owners pays for the main owners’ union fees in the residential complex and it’s applicable on the flats/apartments in most of the cases.
• Ground Rent which is a rental value fees payable to the government and varies between projects and sites.
• Land Registry Fee which is paid on registering the property on completion and it varies according to the property value.
• Bank Account Opening Fees and funders’ related expenses.
• Solicitor’s cost, attorney’s fees, which vary from one lawyer to another.
• Surveillance Charges for checking the property and its validity on, which are necessary and recommended, but not mandatory.

It is worth noting that these fees and others depend on the type of property, its location and area, the period of ownership, the reason for purchasing it and other factors that make the tax system somehow complicated, so the lawyer and tax advisor must be consulted.

Stamp Duty Land Tax is a tax paid by the buyer to the British government for a home or land over £ 125,000 or a second home or land over £ 40,000 in England and Northern Ireland. In Scotland, the equivalent tax is called Land and Building Transaction Tax (LBTT). In Wales, the equivalent tax is called the Land Transaction Tax (LTT).

This tax has undergone many changes, the most recent of which was in 2020 and was called the Stamp Duty Holiday, as it entered into immediate effect on July 8, 2020 and expired on March 31, 2021, which was renewed until June 30, 2021. Counselor Rishi Sunak announced the introduction of a transfer fee holiday Property in his summer statement as part of the economic response to the COVID-19 pandemic. The fee changes aim to support the housing sector during the crisis.

A’ayan Real Estate Consultancy Dpt. team will help you make the calculation for buying a specific property in UK and will give the right advice based on the terms and needs that the buyer sets and the conditions of the available propertie

It is very important to appoint your own lawyer when buying or selling a property in the United Kingdom to verify all the related aspects, the most important of which are: ensuring the developer’s license, the building permit and the land document where the licenses must be valid and the land is free from foreclosure or any financial or judicial obligations.

The lawyer protects the buyer and checks the details of the contract, which must include unit details such as the name and location of the project, the area of the unit, its number and location in the project, the building plan and the features associated with it, such as a balcony or car park.

One of the advantages of appointing a trusted private lawyer is that the buyer guarantees his right in the event of a delay in the delivery of the project or failure to complete it by indicting the developer financially and legally, and the possibility of fully recovering the buyer’s money if this is mentioned in the basic contract.

Buying a property abroad is an important and difficult decision, as the search process must be based on full awareness of the desired region, knowledge of the language, the value of the country’s monetary currency, the rate of real estate prices, expected returns, knowledge of taxes, fees and all costs when buying a specific property in a specific area. Therefore, those wishing to buy should consult trusted local real estate agencies, search for well-known real estate platforms, visit the desired area and live in it, consult funding banks and mortgage brokers, visit the sites of favorite projects and study all the details related to the project, services, units and surroundings.

Everyone has his priorities and goals when investing in the real estate field, so if you have made your decision to invest in real estate, you need to make sure that the property achieves good returns and is on the right track according to what is planned. Here we provide some helpful priorities for you to guide you in achieving the optimum return on your investment.

• The purpose of your investment 
  • The first thing you should know when buying your property is to know the purpose of your investment, whether you want the property as a second residence for you and your family or for investment purposes. In any case, investors will have to be careful to choose properties with distinctive locations, which are being developed by well-known developers who have a great precedent for business. In addition to the above, a market study should be carried out through the analysis of supply and demand in case the buyer’s purpose is investment.
• The location of the property
  • Many individuals want to invest in sites that allow them easy access to the places they frequent, such as markets, workplaces, and schools, through the availability of various and fast means of transportation. Other individuals prefer to invest in (new) emerging sites where all basic services such as transportation have not been completed and are somewhat remote from the main facilities at present, but they have great growth rates for their prices due to the population growth that gradually extends to these sites, attracting investors’ capital to reap the expected profits in the future.
• Purchase budget
  • One of the most important factors that you must take into account is that you choose the right property for the amount you want to invest. Our real estate guide will help you to get acquainted with the many properties with different specifications. Real estate varies in size, location, and stage of development. You can buy ready-to-rent property in a privileged location in the center of the capital, or choose a property under construction outside the capital, with easy access to it. All of these options are characterized by different specifications and also different expectations of investment returns.
• Laws
  • You will have to be aware of the laws of the country in which you wish to invest and enter its real estate market and the taxes that fall on you, in addition to your need to appoint a lawyer who is familiar with the internal and external details to help you manage the financial and legal affairs of your property and the procedures to be taken to avoid any fines or falling into difficult situations especially when it comes to taxes. A’ayan Real Estate Consultancy Dpt. team will help you choose the best legal advisors to verify the safety of the property you want to buy.

There are three types of ownership in the United Kingdom and are known as:

• Freehold, which means that the owner owns the property with the land on which it is built, and has the right to dispose of the property freely within the conditions of the planning department in the municipal council. It is considered to be the best and most valuable type of property to own in the UK.
• Leasehold, which means that the owner owns what is inside the property, which is most often an apartment in a building or apartment complex and not a house and is governed by a specified number of years to own which can be renewed later on.

Commonhold, which was introduced in 2004, whereby there is a company called “Joint Stock Company” that owns the building “free ownership” and is responsible for maintaining the common parts of it and the owner of each apartment in this building is a shareholder member of the company and is bound by specific conditions – It is often the same as the terms of the sale of a “lease agreement”.