A sum of the most common questions&answer. Please write us if you don’t find what are you looking for or request more infos.
We will help you to solve your doubts!

Why do you say that it is convenient to ask for your services?

Spending time in London as a tourist is not cheap at all. You just have to consider how much time you actually need to find on your own a property in town; first of all it is necessary to go to different real estate agencies, then to read all the economical press releases, and again to go touring and visiting different houses. Well, we have Clients that were able to complete a buying in just a couple of days thanks to our help.

Are you a real estate agency?

Definitely not. UK real estate agencies are chosen and paid by the vendor, so it is perfectly understandable that they try to help their Client. On the other hand we are on the buyers’ side and we play our role on their behalf, first of all by trying to find the ‘perfect property’ to them.

Is it really possible to find a bargain in London?

Nowadays yes, first of all it is to be considered the favourable Euro/Pound change in this particular stillness of the UK market, paralyzed by the difficulty of obtaining a loan. By comparing the London prices to the ones of Milan and Rome, it is clear that London is not that expensive, especially if the Client is keen on looking for a house in emerging neighbourhoods.

It is truly worth investing in London?

Yes, first of all it is necessary to consider that in the last 15 years the increase in value of properties in London has been the greatest compared to other capitals in Europe and it redoubled in just six years. The rental earning increase is really convenient, especially because when there are difficulties in buying, the renting market grows. London is costantly developing and is estimated that 80,000 new houses are going to be built in the next few years. It is also estimated that around 150,000 new wokers are going to find an employment in new offices and shopping centres and 100 thousand milions pounds are going to be invested (according to NLAA - New London Architecture Association).

It is true that the property of a house in the UK is not forever?

It actually depends on which basis the buying is going to be done. If it is concerning a FreeHold, it is going to be bought other than the property also the property of the ground where the estate stands and the freehold lasts forever. While if it is bought a Leasehold, the ground remains in the hands of the Landlord (often the Crown or the English Church) that gives the building to the buyer for a certain period of time (usually it is around 99 years or more) on payment of an annual fee. However it is to be reminded that, according to UK law, in each moment after 2 years from the purchase the “lease” can be renewed, also on payment. Practically speaking the posession is guaranteed and transferable at every moment.

Is a notary in charge to guarantee that the purchase is correctly completed?

No. In the UK it is not involved a notary and the transaction is managed by the solicitors of the counterparts (Vendor’s and Purchaser’s Solicitors), that have a direct responsibility in concluding the transaction in the best way. There can be found three main steps of the purchase.
Draft of agreement: at this stage both parts can withdraw from the contract, without being bound to pay an indemnity.
Exchange of contracts: at this stage are decided the terms and conditions of the transaction and it is given a deposit (usually it is around the 10%) that is not refunded in case of withdrawal.
Delivery: at this stage the posession of the house is formally transferred to the buyer through the delivery of the keys.
The solicitor fully assists the client at each stage.

What does the Law provide about taxation?

When the buying is completed, the stamp & duty tax is paid, whose amount depends on the value of the buying itself. (1% to £250,000; 3% to £500,000 and 4% when the price is higher).
If the buyer is an English company, the revenues are rated on a fixed measure, up to 21% of the net profit.

Can I always count on the same person during the transaction?

This is precisely the N3Discover’s philosophy. The Client meets a consultant in Italy that is going to follow through the all purchase, although other persons are of course involved. Our aim is to be considered always prompt to meet the client’s needs and on his/her side thanks to a great managing support.