Step 1 – Know Your Budget
Before starting your property search, it’s essential to establish your budget and understand your financial situation. Review your income, expenses, and available savings to determine how much you can afford.
You should also consider whether you want to apply for a mortgage from a UK lender. While some lenders offer special products for overseas buyers or expats, obtaining a mortgage as a non-UK resident follows a different process. It’s highly recommended to consult a mortgage advisor or broker early on. Some banks offering expat mortgages include HSBC, Barclays, NatWest, and Skipton International.
Step 2 – Find the Right Property
Once you know your budget, begin your property search. Generally, resale (also known as second-hand) properties tend to be more affordable than newly built or off-plan properties but may be less modern and energy-efficient. In London, purchasing a new-build home follows slightly different steps than buying a resale property, although the core process remains similar.
At this stage, you can either work with an agent or contact the developer directly to explore your options and submit an offer.
Step 3 – Make an Offer
Once you’ve found a suitable property, you can make a formal offer to the seller or developer. Keep in mind that no party is legally bound to proceed until contracts are exchanged. After your offer is accepted, you can move forward with the legal and financial steps.
Step 4 – Appoint a Solicitor
After securing the property and possibly reserving it, you’ll need a solicitor to manage the legal side of the transaction. Make sure to work with a UK-based solicitor experienced in handling purchases for overseas buyers. In the case of new-build properties, developers often provide recommended legal services, which is common practice. Be sure to discuss all key details with your solicitor — including remote purchase options or mortgage assistance if needed.
Step 5 – Conveyancing
This is the stage where both buyer and seller agree on the terms of the sale. You will be asked to provide proof of identity and address as part of the UK’s Anti-Money Laundering regulations. Once that’s done, your solicitor will begin the conveyancing process, which refers to the legal transfer of property ownership. This applies to both new and existing homes.
Step 6 – Exchange of Contracts
After all checks are completed, contracts are exchanged between both parties. At this point, the deal becomes legally binding, and withdrawing from the transaction can incur financial penalties. You’ll also be expected to pay a deposit — usually at least 10% of the purchase price. The completion date is also agreed upon during this stage.
Step 7 – Completion
Completion occurs when the remaining funds are transferred to the seller. At this stage, you’ll pay Stamp Duty Land Tax (SDLT) and register the property in your name with the UK Land Registry. You’ll then officially own your new home.
💡 Please note: The exact steps may vary slightly depending on whether you’re buying a resale or new-build property and your country of residence. For a smooth and secure purchase, it’s always best to work with a UK-based real estate professional who understands the needs of international buyers.