In depth · Property
Buying property in London: how it works
A practical guide to how buying a home in London works, from the offer to completion, and the taxes and rules that apply in England. It is general information, not legal or financial advice.
Updated October 2026
From offer to completion
In England, offers are made through the estate agent and are “subject to contract”: neither side is bound until contracts are exchanged. Your solicitor or licensed conveyancer carries out searches and checks the title, while you arrange a survey and finance. At exchange you pay a deposit, usually around 10%, and the sale becomes binding; completion, when you pay the balance and receive the keys, follows on an agreed date.
Stamp Duty Land Tax
Stamp Duty Land Tax is payable on most property purchases in England, at rates that rise with the price. Surcharges apply to buyers of additional homes and to buyers who are not resident in the UK. Rates and reliefs change, so check the current figures on GOV.UK or with your solicitor.
Freehold and leasehold
Houses are usually sold freehold, while most flats in London are leasehold: you own the flat for a fixed number of years and pay ground rent and service charges to the freeholder. Check the length of the lease and the charges carefully, as short leases can affect value and mortgages.
Buying from abroad
Foreign buyers can purchase property in England. Expect strict anti-money-laundering checks on your identity and source of funds, and the non-resident Stamp Duty surcharge. Take advice from a solicitor and a tax adviser in both countries before you buy.
Where people buy
Prime central London includes Mayfair, Marylebone, St James’s and Westminster, as well as Belgravia, Knightsbridge, Chelsea and Kensington. See our neighbourhood guides; we do not publish price estimates.
Questions and answers
Can foreigners buy property in London?
Yes. Non-UK residents pay a Stamp Duty surcharge, and should take advice from a solicitor and a tax adviser.
When is a property purchase binding in England?
Only at exchange of contracts; before that, either side can withdraw.
What is leasehold?
Ownership for a fixed term of years, common for flats, with ground rent and service charges paid to the freeholder.
Mortgage and stamp duty calculators
Rough numbers before you talk to a broker or solicitor: an estimate of the monthly repayment, and the Stamp Duty Land Tax due on a home in England. Everything is worked out in your browser; nothing you type is sent anywhere.
General information only, not legal, tax or financial advice. Check GOV.UK and take advice from a qualified solicitor.