Frequently Asked Questions
- Why do clients pay an initial fee?
- When does the client pay the final fee?
- Who participates in the purchase process?
- What do landlords generally ask to rent their property?
- How to calculate the monthly rent from the price per week?
- What is a freehold?
- What is a leasehold?
- What is the stamp duty?
- What is the purchase / rental process in the UK ?
- What is the purchase process in France ?
Why do the clients pay an initial fee?
The initial fee is mainly payable for the property purchase service. It is mainly an engagement fee between the client and us.
When does the client pay the final fee?
The final fee is a percentage of the property purchase price. It is only payable when the purchase process has been completed, and all the paperwork has been validated.
Who participates in the purchase process?
The main participants in the purchase process are: the client, the property finder, the solicitor, the mortgage broker, the surveyor, the builder (if it is a property that needs works).
Depending on the complexity of the project some more stakeholders may be involved in the process.
What do landlords generally ask to rent their property?
Usually landlords ask the future tenant to provide: a work contract, a reference letter from their previous landlord, a deposit, a guarantor.
For non-British citizens they may ask for a few months' rent in advance.
How to calculate the monthly rent from the price per week?
Monthly rent price = (Price per week X 52) / 12
What is a freehold?
A Freehold title is a title of ownership where the land and all properties attached to this land are fully owned for an undertermined duration.
What is a leasehold?
A Leasehold title is a title of ownership granted by a lessee to occupy a property or land for a certain period of time.
The length of the lease and the rental price of the land are stated in the lease agreement.
This title of ownership can be transferred to another leaseholder through the sale of the estate. However at the end of the lease, the property returns to the landlord.
What is the stamp duty?
The stamp duty is the UK government tax applied to real estate transactions.
The amount paid is a percentage of the property price. The rate depends on the nature of the property (residential, mix usage, disadvantage area) and on the nature of the buyer (individual or corporate).
The stamp duty rate on residential property varies from 1% for properties of over £125,000 to 15% for properties over £2,000,000 bought by corporate bodies.
What is the purchase / rental process the UK?
Please consult our brochure to know what the purchase / rental process is in the UK.
What is the purchase in France ?
Please consult our brochure to know what the purchase process is in France.
