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The UK property market is still booming – particularly with international investors looking for a safe investment location for long term growth and attractive rental yields. The stages of buying a house in the UK can be daunting for those who are not in the know. Whether you’re looking for homes for sale in Mayfair or Knightsbridge, to buy an apartment in central London, or simply buying property in the London or further afield as a foreign investor, Polarius’ guide to UK property buying is crafted for you.
Foreign investors in the UK are subject to a 2% Stamp Duty surcharge on top of standard rates, pushing total upfront costs to 5% or more. However, refunds may apply if UK residency is confirmed within 12 months. (UK Government guidelines.)
1. Select Your Property
Begin by working with an international property buying agent like Polarius to explore prime listings in Mayfair, Knightsbridge, Chelsea, and other central London areas. Off-market luxury property and exclusive opportunities are often accessed via expert agents.
2. Submit an Offer
You make a formal offer to the seller or developer via Polarius as your acting estate agent. The offer can be accepted or rejected, but no contract is signed at this stage. Offers are legally non-binding.
3. Instruct Solicitors & Begin Legal Checks
Once your offer is accepted “subject to contract”, you appoint a solicitor who begins due diligence, including title searches, reviewing the contract, and arranging surveys. Your solicitor also requests the property information pack and negotiates contract terms. Solicitor fees can range from around £1500 to several thousand depending on the property and conveyancing firm which you choose to use.
4. Exchange of Contracts
Once all legal checks, searches, and negotiations are complete — and both buyer and seller are fully satisfied — the exchange of signed contracts takes place. At this point, the agreement becomes legally binding.
A deposit (typically 10%) may be paid at exchange; however, this is often on completion. From this moment, both parties are committed to the sale and withdrawal can result in legal and financial penalties
5. Completion
Completion usually happens 7-28 days after exchange (or as agreed). On completion day, the remaining balance is paid, ownership transfers via HM Land Registry, and you receive the keys.
6. Off-Plan Property Payment Plans
For off-plan property in the UK, payment plans are common (e.g., 60/40 or 70/30). You pay a percentage upfront, with the balance on completion—helping cash flow and giving a chance for capital growth before handover.
Notes on the Process
Stamp Duty Land Tax (SDLT): What Buyers Need to Know
Whether you're a UK resident or an international investor, you'll likely need to pay Stamp Duty Land Tax (SDLT) when purchasing property in England or Northern Ireland. Rates vary based on the property price, buyer status, and residency.
| Portion of Property Price | Standard SDLT Rate |
|---|---|
| Up to £250,000 | 0% |
| £250,001 to £925,000 | 5% |
| £925,001 to £1.5 million | 10% |
| Over £1.5 million | 12% |
Additional Property Surcharge:
If you're buying a second home or a buy-to-let, a 3% surcharge is added to each band.
| Band | Standard Rate | + 2% Non-Resident | + 3% Second Home | Max Possible |
|---|---|---|---|---|
| Up to £250,000 | 0% | 2% | 5% | 5% |
| £250,001 to £925,000 | 5% | 7% | 10% | 10% |
| £925,001 to £1.5 million | 10% | 12% | 15% | 15% |
| Over £1.5 million | 12% | 14% | 17% | 17% |
Roughly 84% of UK property transactions are completed within 3 to 4 months from offer acceptance to completion, with only about 12% taking five months. For those UK property hunters who are buying a house or apartment outright with cash, the process can often go quicker. You will, however, still need to prove the source of funds to comply with UK anti-money laundering laws. This applies to both domestic and overseas buyers. A solicitor will carry out standard legal checks (conveyancing), even in a cash purchase.
The UK property process is unique in being legally binding only at the exchange of contractsgiving both parties time to complete due diligence. However, once solicitors are instructed,transactions usually progress quickly and securely.
Unlike many European countries, the UK does not require a notary, as licensed solicitors handle the full legal process, often at significantly lower cost than notarial fees abroad. Buyers complete all legal checks and surveys before exchange, up until which point you can withdraw your offer under the UK’s “buyer beware” principle.
Yes, international buyers looking to buy a property in London or elsewhere in the UK are free to purchase property in the UK with no restrictions. Whether buying as an individual or through a company, the process is accessible and well-established for overseas investors.
Key considerations:
Does purchasing property in the UK grant a visa, residency, or citizenship?
No, owning property in the UK does not provide immigration rights.
The UK does not offer a real estate-based investor visa. However, high-net-worth individuals may qualify for alternative visa routes that can lead to permanent residency and, ultimately, British citizenship.
Key visa options include:
Residency & Citizenship Pathway:
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