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Buying a home for the first time can be expensive. Make sure you have an idea of the different costs and find out ways you could make buying a home possible and less daunting.

Advice for first time buyers in the UK

Get help through home ownership schemes in the UK

There are a number of schemes aimed at helping first time buyers. 'Low-cost home ownership schemes - a guide' outlines the schemes currently available.

Affordable home ownership, You may want to think about buying a home with other family members, friends or a partner. Buying with others can be a solution to coming up with the deposit and sharing costs. It's important to carefully think about what might happen if circumstances change and one of you wants to sell their share of the property. You should get legal advice and draw up an agreement as to how property will be divided in case of death, or if one of you decides to give up their share in the property.

Finding the right mortgage for you in the UK

Most mortgage lenders require a deposit of at least five to ten per cent of the value of the property you wish to buy. As the price of property increases, the deposit can become expensive. You may want to consider asking family or friends for financial help. There are many types of mortgages available and some are targeted specifically at first time buyers. Read the guide to mortgages from the link below to find out how the mortgage system works and where to get financial advice on mortgages.

Buying a home for the first time in the UK

High property prices have made it difficult for many people to afford to buy a home. This may be a particular challenge for you if you are a first time buyer, as you will have many one-off initial costs including:

A deposit.
Stamp Duty Land Tax.
Surveyors' fees.
Lenders fees and charges.
Land Registry fees
Removals/or moving in charges

If you are thinking of buying a house for the first time, make sure that you have planned for all the costs that you will face. 'Planning on buying a home' will explain the main costs that you are likely to have to pay.

Affordable home ownership schemes in the UK- a guide

If you live in England and can't afford to buy a flat or house, you may get financial help to buy a home. There are two types of 'HomeBuy' schemes to help people buy newly built homes (in London, HomeBuy is known as 'First Steps'):

'equity loan' - you get a loan towards the home's purchase price that has no fees for five years.
'shared ownership' - you buy a share of your home and pay rent on the remaining share.

You will need to take out a mortgage to pay for your share of the home's purchase price.

HomeBuy schemes are a first step to fully owning your home. When you can afford it, you can pay more money, eg through savings or your mortgage, to own your home outright.

You can read more about how the different HomeBuy schemes work in 'equity loan - how it works' and 'shared ownership - how it works'.

Equity loans in the UK - how they work

If you are a first-time buyer who can't afford to buy a home, you may be able to get help through an 'equity loan' scheme - FirstBuy (from summer 2011) or HomeBuy Direct - to purchase a new build home. Find out how the equity loan scheme works.

Equity loans in the UK - who can get help?

Equity loans are available on certain newly built homes on specific housing developments across England.

Find a HomeBuy agent in the UK.

The loans are provided through 'HomeBuy agents', who will decide if you can buy a home this way. HomeBuy agents are housing associations that have been authorised to run schemes for people who have difficulty buying a home.

You can only buy a home through an equity loan scheme if:

Your household earns £60,000 a year or less.
You can't otherwise afford to buy a home in your area.

A household is the number of people who are buying the home. For example, a household might be you alone or you and your partner.

Equity loans are open to:

People who rent council or housing association properties.
First-time buyers (you are a first-time buyer if you haven't owned a home before).

How do equity loans work in the UK?

With an equity loan, you buy your home with at least 70 per cent of the cost met by a mortgage and savings (deposit).

The remaining cost of the home is paid for by the government and the house builder through an equity loan.

The loan is called an equity loan because its value changes based on how much your home is worth. This means the amount you owe will rise and fall with the value of your home.

The home's title will be in your name, which means you can sell your home at any time.

The government and the house builder will then get the same share of your home's price when you sell it.

Example of a purchase with an equity loan scheme	Cost	Percentage
Purchase price of new home	£200,000
Your mortgage and cash deposit	£140,000	70 per cent
Equity Loan	£60,000	30 per cent

If this home sold for £210,000, you would get £147,000 (70 per cent) and pay back £63,000 on the loan (30 per cent). You would need to pay off your mortgage with your share of the money.

You can read 'Paying back the equity loan' to find out how the sale price of your home is agreed.

If you don't sell your home, you have to pay back the equity loan after 25 years. You can use the link below to find out how the value of the equity loan is worked out if you don't sell your home.

Equity loan fees in the UK

You won't be charged any fees for the first five years of owning your home.

In the sixth year, you will be charged a fee of 1.75 per cent of the loan's value. Every year after this, the fee will increase. The amount it increases by is worked out by using the Retail Price Index (RPI) plus 1 per cent. The RPI is a way of measuring inflation. Inflation is how much the things we buy increase in cost each year.

For example, if the RPI was 5 per cent, the 1.75 per cent fee would increase by 6 per cent to 1.86 per cent. The table below shows how this can increase your fees.

Year	Equity Loan	Fee rate	Yearly fee	Monthly fee
5	£60,000	0 per cent	£0	£0
6	£60,000	1.75 per cent	£1,050	£88
7	£60,000	1.86 per cent	£1,116	£93

Fees don't count towards paying back the equity loan.

The National HomeBuy agent collects fees for equity loans. It will contact you before the fees start to set up monthly payments with your bank. It will also send you a statement about your loan each year.

Paying back the equity loans early - staircasing in the UK

If you pay back all or part of the equity loan early, you will pay less in fees and get more money when you sell your home. This is known as staircasing.

If you want to pay back the equity loan early, you will need to contact the National HomeBuy agent. You can read 'Paying back the equity loan' to find out what costs are involved.

How to apply for an equity loan in the UK

If you'd like to buy a home with an equity loan, contact the HomeBuy agent in the area where you want to live. Each HomeBuy agent has an application form for the scheme, which you will need to complete.

(Shared ownership how it works see below)

Shared Ownership for Older People in the UK

If you are aged 55 or over, you can get help from another HomeBuy scheme called 'Older Peoples' Shared Ownership'.

It works in the same way as the shared ownership scheme, but you can only buy up to 75 per cent of your home.

Once you own 75 per cent of the home, you won't have to pay rent on the remaining share.

Affordable home ownership for people with disabilities in the UK

If you have a long-term disability, 'Home Ownership for People with Long Term Disabilities' (HOLD) can help you buy any home that is for sale on a shared ownership basis.

You can only apply for HOLD if the homes in the other HomeBuy schemes don't meet your needs, eg you need a ground floor property.

HOLD is a shared-ownership scheme: you buy a share of your home and pay rent on the remaining share. You can read 'shared ownership - how it works' to find out more.

Contact the HomeBuy agent in your area if you want to apply for HOLD.

HomeBuy agents in the UK

HomeBuy schemes are run by local HomeBuy agents, who have details of all the homes for sale through each scheme.

HomeBuy agents are housing associations that have been authorised to run schemes for people who have difficulty buying a home.

If you want to buy a HomeBuy property, you will need to apply to the HomeBuy agent for the area where you want to live.

Who can apply for the HomeBuy schemes in the UK?

HomeBuy schemes are only open to households that earn £60,000 a year or less. A household is the number of people who are buying the home. For example, a household might be:

You alone.
You and your partner.
You and a friend.

HomeBuy schemes are open to:

People who rent council or housing association properties (see other schemes for tenants below).
First-time buyers (you are a first-time buyer if you haven't owned a home before).

You can also get help through the HomeBuy schemes if you used to own a home, but can't afford to buy one now.

Shared ownership in the UK - how it works

If you want to buy a home but can't quite afford to, the shared ownership scheme can help. With the scheme, you buy a share of the home and pay rent on the remaining share. Find out how shared ownership works and if you qualify.

Shared ownership in the UK - who can get help?

To apply for a shared ownership home, contact the HomeBuy agent in the area where you want to live.

The shared ownership scheme covers certain newly built homes across England.

The scheme is provided through 'HomeBuy agents', who will decide if you can buy a home this way. HomeBuy agents are housing associations that have been authorised to run schemes for people who have difficulty buying a home.

You can only buy a home through shared ownership if:

Your household earns £60,000 a year or less.
You can't otherwise afford to buy a home in your area.

A household is the number of people who are buying the home. For example, a household might be you alone or you and your partner.

Shared ownership is open to:

People who rent council or housing association properties.
First-time buyers (you are a first-time buyer if you haven't owned a home before).

You can also get help through shared ownership if you used to own a home, but can't afford to buy one now.

How does shared ownership work in the UK?

The shared ownership scheme can help you buy a home if you can't afford to buy one on the open market.

Through the scheme you pay for a share of between 25 per cent and 75 per cent of the home's value.

The housing association owns the remaining share of the value of your home. You will then pay rent on the landlord's share. The rent is up to 3 per cent of the share's value.

Shared ownership properties are always leasehold homes. This means you own them for a fixed period of time, usually 99 years.

When you buy your home, you become the owner of the lease. The housing association will grant you a lease for the fixed period, which also sets out your rights and responsibilities, and those of the landlord.

Shared ownership costs example

Example of shared ownership	Cost	Share of home
Property purchase price	£100,000
Your share of the value	£50,000	50 per cent
Housing association share	£50,000	50 per cent

The table below shows how much this could cost you per month in mortgage payments and rent.

Example of shared ownership costs	Monthly cost
Mortgage payments at 6 per cent interest over 25 years	£322
Rent at 3 per cent of £50,000 (£1,500 over 12 months)	£125
Total monthly payment	£447

You may also pay a service charge if your home is a flat.

Your rights and responsibilities in the UK

As the owner of the lease, you have rights and responsibilities just like any other owner.

This usually means you're responsible for repairs inside the property while the housing association takes care of the outside (eg the roof if you own a flat).

To cover the costs for any outside work that might be necessary, you pay a service charge each year. This could be charged on a monthly basis.

Buying more shares in your shared ownership home in the UK

After you've bought your first share, you can usually buy more shares until you own the whole value of the property. This is known as staircasing.

You can buy more shares in your home any time after you become the owner. To do this, you'll have to write to your housing association. For example, you may own 50 per cent and want to buy another 25 per cent.

The cost of your new share will depend on how much your home is worth when you want to buy the share. If property prices in your area have gone up, you will pay more than for your first share. If your home has dropped in value, your new share will be cheaper.

The housing association will get the property valued and let you know the cost of the new share. You'll have to pay the valuer's fee.

Usually you'll have three months to arrange a mortgage and complete buying the new share. Your lease document will have full details on how to buy new shares.

Selling your shared ownership home in the UK

You can sell your home at any time, but you must tell the housing association in writing.

If you own a share of your home, the housing association has the right to find a buyer for it.

If you own 100 per cent of your home, you can sell it yourself. When you put your home up for sale, the housing association has the right to buy the property back first. This is known as the 'right of first refusal'. The housing association has this right for 21 years after you fully own the home.

How to apply for the shared ownership scheme in the UK

If you'd like to buy a home through the shared ownership scheme, contact the HomeBuy agent in the area where you want to live. Each HomeBuy agent has an application form for the scheme, which you will need to complete.

Affordable home ownership schemes for council and housing association homes in the UK

If you are a council or housing association tenant, there are three schemes to help you buy your home at a discount:

'Right to Buy' gives some council tenants the right to buy their rented home.
'Right to Acquire' gives some housing association tenants the right to buy their rented home.
'Social HomeBuy' gives some tenants the chance to buy a share of their council or housing association home.

These schemes are run by your landlord, eg your council or housing association. You can read more to find out if you can buy your home through one of these schemes.

Buying your council home in the UK - the Right to Buy scheme

You may be able to buy the home you rent from your council at a discount under the Right to Buy scheme. Find out if you can buy your home through the scheme and what discount you could get.

Who can apply for Right to Buy in the UK?

If you want to buy your home through Right to Buy, you need to complete an application form and send it to your landlord.

The Right to Buy scheme helps social tenants in England and Wales buy their council home at a discount.

The scheme is open to people who are secure tenants (usually someone who has been a council tenant for more than 12 months).

You can apply for Right to Buy if you've been a council or public sector tenant for five years (it doesn't have to be five years in a row). You are a public sector tenant if you have lived in properties provided by a housing association, the armed services or a public body like an NHS trust.

You can make a 'joint application' to buy your home through Right to Buy with someone who shares the tenancy with you or with members of your family. They must have lived with you for the past 12 months.

Preserved Right to Buy in the UK

'Preserved Right to Buy' applies to some tenants who wouldn't normally qualify for Right to Buy. For example, if you are a tenant of a housing association, you don't usually have the Right to Buy.

Preserved Right to Buy works in a similar way to Right to Buy (you use the same form to apply through your landlord).

You may have the Preserved Right to Buy if the council sold your home to another landlord, eg a housing association, while you were renting it. Your landlord can tell you if you have the Preserved Right to Buy.

Who can't buy under Right to Buy in the UK?

You can't buy through the scheme if:

The property isn't your main home.
The property isn't self-contained (has a shared kitchen or bathroom).
There is a court order saying you must leave your home.
You are an 'undischarged bankrupt'.
You are being declared bankrupt.
You owe money to creditors.

Some properties won't be sold through Right to Buy, eg if your home is suitable for housing the elderly. See the link 'Exceptions to Right to Buy - why a property won't be sold' for more information.

Exceptions to Right to Buy in the UK

Right to Buy helps many people to buy their home, but not all properties can be sold in this way. For example, your landlord can refuse to sell your home if it would make a suitable home for the elderly. Find out which homes can't be bought through the scheme.

Types of properties that won't be sold through Right to Buy in the UK

There are some types of properties that your landlord can refuse to sell through the Right to Buy scheme.

Usually they are homes that are provided for the elderly or for people in a specific job, eg some police houses.

These properties are known as 'exceptions' to the Right to Buy scheme.

Your landlord will decide if your home can be sold through Right to Buy when you apply for the scheme.

Your landlord must explain why you can't buy your home through Right to Buy. You can only appeal against your landlord's decision if your application has been turned down because your home is suitable for the elderly.

You can't appeal if your application has been turned down for any other reason.

Homes that are suitable for the elderly in the UK

Your landlord doesn't have to sell a property through Right to Buy that:

Is 'particularly suitable' for elderly people.
Was let to you for use by a person aged 60 or over.

Your landlord can decide your property is 'particularly suitable' for the elderly if it has:

Easy access, eg a lift if it's not on the ground floor.
All rooms on one level.
No more than two bedrooms.
Enough heating for at least a living room and one bedroom.
Easy access to shops and public transport.

Appealing against your landlord's decision in the UK

You should appeal to the Residential Property Tribunal Service in England or the Welsh Assembly. You have to appeal within 56 days of your Right to Buy application being refused.

How demolition affects Right to Buy in the UK

Your landlord can turn down your Right to Buy application if they have sent you a notice that they are planning to demolish (knock down) your home.

This notice is called an 'initial demolition notice' and it lasts for seven years. Although you can still apply for Right to Buy, your landlord doesn't have to sell you your home.

If your landlord later sends you a 'final demolition notice', all Right to Buy applications end.

If you started your Right to Buy application before a demolition notice is served, you have three months to claim compensation. This is for any money you may have spent on legal fees etc so you could buy your home.

Other exceptions to Right to Buy in the UK

A landlord can also turn down your application to buy your home if it:

Offers sheltered housing for the elderly or for people with disabilities (sheltered housing means there is usually a warden and a common room).
Is owned by a charity that doesn't get money from public funds.
Is rented to you so you can be near your job, eg you work for the fire service.
Is rented to you so you can study full time at university, eg to be a nurse.
Is rented to you as a temporary home, eg for less than three months.
Is in the grounds of a public building like a school.
Is on land that has been bought for development.
Is let as part of a business, eg a farm or shop.
Has been let from a private landlord.

You landlord will tell you if you can buy your home through Right to Buy.

Rural restrictions and Right to Buy in the UK

If you live in the countryside, your landlord may set rules (restrictions) on who you can sell your home to later. These rules may affect your Right to Buy application if your home is in:

A national park.
An area of outstanding natural beauty.
An area the government says is rural for Right to Buy.

For example, you may have to sell your home to someone who has lived or worked in the area for more than three years. This may mean you have difficulty getting a mortgage to buy your home.

Your landlord will tell you if there are any rural restrictions on your home when you apply for the Right to Buy scheme.

'Defective dwellings' and Right to Buy in the UK

By law, a property that needs lots of work or is badly built can be classed as a 'defective dwelling'. Your landlord must tell you if your home is a defective dwelling when you apply to buy it through Right to Buy.

If you buy a defective dwelling, it can be difficult to sell your home later. This is because anyone thinking of buying your home might have problems getting a mortgage.

You should also get a survey of your home so you know what work needs to be done and that the price of your property is right.

Appealing if refused the 'Right to Buy' in the UK

If your Right to Buy application is turned down by your landlord because the property is suitable for the elderly, you might be able to appeal to the Residential Property Tribunal.

Right to Buy discounts in the UK

If you qualify for Right to Buy, you can get a discount on the market value of your home when you buy it. Your home's market value is the price it would fetch if it was sold.

The discount is based on:

How long you have been a tenant.
Where you live.
The type of property you're buying (a flat or a house).

If you have previously had a discount to help you buy a council home, this may be taken off your Right to Buy discount.

Mortgages and others costs of buying through Right to Buy in the UK

Unless you can buy your home with cash, you'll need to borrow money through a mortgage.

Make sure you will have enough money to pay your mortgage each month and other bills like Council Tax. If you buy a flat, you'll probably also have to pay a 'service charge' towards the upkeep of the whole building and repairs. If major repairs are needed, eg a new roof, the service charge could be thousands of pounds each year.

If you don't pay your mortgage, your mortgage lender can take you to court and you could lose your home. And because you are no longer a tenant, the council doesn't have to find you another home.

Selling your Right to Buy home in the UK

If you sell your property within ten years of buying it, you must first offer it to your old landlord, eg the council, or another social landlord in the area.

Your home should be offered at the full sale price, which must be agreed between you and the landlord. If you can't agree on the price for your home, a district valuer will say how much your home is worth and set the price. You won't have to pay for their valuation.

If the landlord doesn't agree to buy your home within eight weeks, you can sell your home to anyone on the open market.

How to apply for Right to Buy in the UK

You have to go through a set process to buy your home under the Right to Buy scheme. Your landlord has an application form for the scheme, which you will need to complete. You can also download the form from the link below.

** Most Right to Buy sales go through quickly, but sometimes there can be delays or problems. **

Buying your housing association home in the UK - the Right to Acquire scheme

If you rent a property from a housing association you may be able to buy your home at a discount. The scheme is called the 'Right to Acquire'. Find out about the scheme and if you qualify for it.

Who can apply for Right to Acquire in the UK?

If you want to buy your home through Right to Acquire, you need to contact your landlord who will send you an application form.

Applying to buy your home through Right to Acquire:

The Right to Acquire scheme helps tenants in England and Wales buy their housing association home at a discount. Your housing association is known as the 'landlord' and you are the 'tenant'.

You can apply to buy your home through Right to Acquire if you've been a public sector tenant for five years.

You are a public sector tenant if you have lived in properties provided by the council, a housing association or the armed services. There are many other public sector landlords accepted for Right to Acquire.

You can make a 'joint application' for Right to Acquire with another person who shares your tenancy or up to three members of your family. They must have lived with you for the past 12 months.

The property you live in

To qualify for the Right to Acquire scheme, your property must either have been:

Built or bought by a housing association with public funds from 1 April 1997 onwards.
Transferred from a local council to a housing association after 1 April 1997.

You can only buy your home through the scheme if your landlord is a housing association or housing company registered with the Tenant Services Authority. The Tenant Services Authority regulates landlords who provide social housing.

The home you want to buy must also be a self-contained property and be your only or main home. Self-contained means you don't share parts of your property with others - such as a living room or bathroom.

Who doesn't qualify for Right to Acquire in the UK?

You can't buy your home through the Right to Acquire scheme if:

You are being made bankrupt.
A court has ordered you to leave your home.
You are a council tenant – you may be able to get discounts on buying your home through the 'Right to Buy' scheme.

Types of property that don't qualify for Right to Acquire in the UK

Not all properties can be bought under the Right to Acquire scheme. These include:

Housing provided for people aged 60 or over.
Housing provided to people who have special needs or who are physically disabled.
Housing that is provided as part of your job.
Property your landlord has published its intention to demolish within seven years.
Property your landlord has served a notice to demolish within two years.

There are other types of property that don't qualify for Right to Acquire. Your landlord will tell you if your home qualifies when you apply to buy it.

Right to Acquire discounts

Discounts range from £9,000 to £16,000 - depending where you live.

You can get a discount on the price of your property from £9,000 to £16,000. The amount of discount you will get depends on where you live.

If you have previously had a discount to help you buy a public sector home, this may be taken off your Right to Acquire discount.

How your Right to Acquire home's price is calculated in the UK

Your landlord gets an 'open market valuation' to work out the price of your home. An open market valuation is the price a property is valued at when it is sold, eg through an estate agent.

For example, if your home was valued at £100,000 and the discount for your area was £10,000, you could buy your home for £90,000.

Mortgages and other costs of buying through Right to Acquire in the UK

Unless you can buy your home with cash, you'll need to borrow money through a mortgage.

If you don't pay your mortgage, your mortgage lender can take you to court and you could lose your home. And because you are no longer a tenant, the council doesn't have to find you another home.

Selling your home in the UK

If you sell your home in the future you may have to repay some, or all, of the discount. The amount you'll have to pay back depends on how soon you want to sell your home.

Selling your housing association home in the UK

You can sell your property whenever you want, in the same way as other homeowners. Depending on when you bought your home, you may have to pay back some of your discount or offer it first to your original landlord. Find out what you'll have to pay and when.

When you need to pay back your Right to Acquire discount

If you sell your Right to Acquire home within five years of owning it, you'll have to pay back the discount that you got. You'll only have to do this if you applied to buy your home through Right to Acquire on or after 18 January 2005.

How much you have to pay to your original landlord depends on:

Any change in the value of the property (up or down) since you bought it.
The length of time you've owned the property.

Time when property sold	Amount of discount you have to pay back
Within 1 year	100%
Within 2 years	80%
Within 3 years	60%
Within 4 years	40%
Within 5 years	20%

If you decide to sell your property after five years, you won't have to pay the discount back.

Example of paying back your Right to Acquire discount in the UK

If you bought your home for £150,000 and got a £15,000 discount, your discount would be worth 10 per cent.

If you then sold your home for £160,000 in the first year, you would have to pay back £16,000 (10 per cent of £160,000).

If you sold your home for £160,000 after three years, you would have to pay back £9,600 (60 per cent of the full £16,000 discount).

Offering your Right to Acquire property back to the original landlord:

If you sell your property within ten years of owning it, you will first have to offer it to your former landlord. This is called the 'Right of First Refusal'.

Your landlord may want to offer your property to other tenants who:

If your landlord doesn't want your Right to Acquire home in the UK

If your landlord doesn't want your home, you are free to sell it on the open market.

You can use the links on direct.gov website to find out about selling a property on the open market and using an estate agent.

Using an estate agent in the UK - selling a property

If you are selling a property and want to use an estate agent, you will usually sign a contract and have to pay a fee. Find out about finding an estate agent and signing the contract.

Finding an estate agent in the UK

If you choose to use an estate agent to help you sell your property, make sure you shop around and find the right company for you. Ask family and friends for recommendations.

Trade organisations for Estate Agents in the UK

Choosing an estate agent that is registered with a trade organisation will give you an indication of the standards they will follow in their work. Trade organisations set a standard of professional behaviour, which its members have to follow.

The National Association of Estate Agents (NAEA), the Royal Institution of Chartered Surveyors (RICS) and the Guild of Professional Estate Agents are trade organisations that Estate Agents can belong to. Find out about the rules of conduct for members of these organisations.

All estate agents are bound by the Estate Agents Act 1979, whether or not they are registered with a trade organisation.

The contract and fees in the UK

When you use an estate agent to help you sell a property, you have to sign a legally binding contract. Once signed, you have to stick to the terms of the contract or you could face being taken to court.

Before you sign the contract in the UK

Before signing, read the contract carefully and make sure you understand it. Find out whether you have the right to cancel the contract and check how long it will run. It should allow a reasonable length of time to market your property and find potential buyers. Beware of contracts that tie you to an estate agent for a very long time. If you are unsure, get advice from a solicitor or your local Citizens Advice Bureau.

Check the meaning of unfamiliar terms

You may come across some unfamiliar terms in a contract. Make sure you understand what you are agreeing to. The terms 'sole agency', 'sole selling rights' and 'ready, willing and able purchaser' must be explained in writing if they are used in a contract. Make sure that you understand how much you will have to pay, when and under what circumstances.

Complaints about Estate Agents in the UK

All estate agents must belong to an approved redress scheme to deal with complaints. Redress schemes will help you if you have a complaint about an estate agent.

Property value and valuations in the UK

How much you can sell your current home for will be crucial when deciding your next move. It pays to do some research to make sure you achieve the best price in the shortest time.

So how much is my home worth in the UK?

You can get an idea of the prices in your area before you sell by visiting the Land Registry website. Here you can see what is actually happening to average prices of property in England and Wales.

You can search for the latest house prices by:

Property type and postcode.
County.
Unitary authority.

You can also find out average prices within Greater London by individual London boroughs.

Getting your property valued in the UK

However you decide to sell your home, you can get the property valued without obligation by local estate agents. It is best to get three valuations for a balanced view.

If you do want to sell through an estate agent, it may not always be best to choose the one that gave the highest valuation. You should get to know the local property market and sales prices before you make your choice. This will give you a realistic idea of how much your property could be sold for and avoid any long delays before your home is sold.

Choosing a new area to live in the UK

When you are considering moving to a new area, there are a number of things you may want to look at before making your decision. You may want to find a job in certain area or move to somewhere that has better schools or more green spaces.

Finding information before you move about the UK

You can find out a lot about a new area to help you decide whether you want to move there or not.

Local council websites in the UK

You can find out a lot about an area by visiting the local council website. Some of the information you can find out includes:

Future planning developments.
Council tax bands and charges.
Local jobs and careers information.
School admission information.
Local parks and recreation areas.
Sports facilities.
Arts and leisure events and facilities.
Facilities for young people.

House prices in the UK

To get an idea of the average house prices in England and Wales, check the House Price Index on the Land Registry website. The index gives detailed house price information going back to January 1995. You can search by postcode, area of the country, or by council. The website also enables you to look at house prices by type of property; maisonette or flat, terraced, semi-detached and detached.

Job prospects in the UK

You can use the Jobcentre Plus job and skills search to look for a job, training, career information, voluntary work and childcare provision anywhere in the UK.

Schools and childcare information in the UK

If you have children, you can find out about primary and secondary schools, childcare, nurseries, Sure Start Children's Centres and out-of-school care in an area. You can also find a school's contact details, performance results, and reports from the Office for Standards in Educations (Ofsted).

Statistics about the UK

Visit the Office for National Statistics website to look at statistics about the local area and maps on a wide range of subjects. The site also gives neighbourhood summaries that compare figures for a specific area to figures for the local council and the rest of the country. Several subjects are covered including health, crime housing and the environment.

Road transport in the UK

If you want to find out about the main road network and future road developments across England, visit the Highways Agency website. For information on the road network in Wales, visit the Welsh Assembly website. Transport Scotland is the organisation that looks after the main road network in Scotland.

The environment in the UK

You can find out about the environment of an area from the Environment Agency. The website includes information on pollution levels and whether an area is at risk of flooding.

You can also find out about the risk of flooding to an individual property, including land and gardens, using the Land Registry's online Flood Risk Indicator for a fee of £6,50 (excluding VAT). You can find out more about the Flood Risk Indicator and what information it shows you on the Land Registry website.

Moving abroad:

If you are thinking about leaving the country, you can use Directgov's section on Britons living abroad to help you plan your move.

Choosing an estate agent and making an offer in the UK

Estate agents usually act on behalf of the seller, but must also treat buyers fairly. Find out what the process is for making an offer on a property and how to make a complaint.

Working with estate agents in the UK

Using an estate agent is a common way to find a property to buy. Different estate agents specialise in different types of property, so find out if the estate agent you want to use is selling the type of property you are interested in. Estate agents enter into a contract with the seller to sell their property, and so be aware that they will be acting in their client's best interests.

Anyone selling a property must provide an Energy Performance Certificate (EPC). For more about what EPCs contain, read 'Energy Performance Certificates – what they are'. (see below)

Making an offer in the UK

Gazumping occurs when a property is sold to another buyer at a higher price after an offer has been accepted.

If you make an offer on a property, make sure that it is 'subject to contract'. This means you can pull out of the deal if there are any problems.

Under the Estate Agents Act, an estate agent is legally bound to present any offer promptly and in writing to the person selling the house, unless the seller has said in writing that there are some offers that they do not wish to receive.

A buyer's offer is not legally binding in England and Wales, even if it's accepted by the seller. This means that the agent is legally obliged to pass on any other offer received for the property up to when contracts are exchanged.

Once your offer is accepted, ask for the property to be taken off the market for the duration of the sale. This is one step you can take to try to avoid being 'gazumped'. The seller may be reluctant to do this if you haven't already sold your property.

Making a complaint in the UK

All estate agents must belong to redress schemes run by either The Property Ombudsman (TPO) or the Surveyors Ombudsman Service (SOS). Redress schemes will help you if you have a complaint about an estate agent. To find out more about how to make a complaint, read 'Estate agents – making a complaint'.

Providing an Energy Performance Certificate:

If you are selling your home, you will need to provide buyers with an Energy Performance Certificate. To find out what you need to do to get one, see 'Getting an Energy Performance Certificate'.

Getting an Energy Performance Certificate on your property in the UK

Find out how to get an Energy Performance Certificate (EPC), when you should receive one and when you should provide one. Also, find out about energy assessors who produce EPCs, and what to do if you are not happy with their work.

How to get an EPC in the UK

An EPC is required by law when a building is built, sold or put up for rent. If you are a landlord or homeowner and need to provide an EPC, you'll need to contact an accredited domestic energy assessor. They will carry out the assessment and produce the certificate.

Accreditation schemes make sure that domestic energy assessors (DEAs) have the right skills and are able to carry out the survey to agreed standards. These schemes ensure that DEAs:

Adhere to standards, codes of conduct and procedures.
Are qualified to conduct an energy assessment, produce the certificate and give advice.
Have the correct insurance.
Are part of a register.
Have had a criminal records check.
Have a complaints procedure.

Domestic energy assessors may be employed by a company (like an estate agent or energy company) or be self-employed. Always check that your domestic energy assessor belongs to an accreditation scheme.

Finding an accredited energy assessor

You can use the energy performance certificate register website to search for an accredited domestic energy assessor. This website is run by Landmark, on behalf of the government. You can also find accredited domestic energy assessors by searching online or by looking in the phone book.

How long is your EPC valid for?

EPCs are valid for ten years.

What an EPC costs in the UK

The price of an EPC is set by the market and will depend on the size and location of your property.

What to do if you are not happy with your EPC

If you are not happy, you should discuss your complaint with the domestic energy assessor who carried out your assessment. All domestic energy assessors must have a complaints process in place, so they should be able to provide you with a copy of their complaints procedure. If the complaint isn't resolved, you can take it to their accreditation scheme.

When you'll be given an EPC

By law you should receive an EPC in the following cases:

Buying a home in the UK

All sellers of homes need to ensure that they provide an EPC, free of charge to potential buyers.

Buying a newly built property in the UK

Buyers of newly built properties should receive an EPC, free of charge.

Renting a property in the UK

If you are interested in renting a property, the landlord must make an EPC available to you free of charge. However, you don't need an EPC when you are thinking of just renting a room with shared facilities rather than renting the whole property.

If you are not in one of the above categories

Even if you don't fall into the above categories, you can still apply for and receive an EPC from an energy assessor. This may be because you want to know how energy efficient your home is, and make improvements suggested by the recommendation report. Read 'Energy Performance Certificates - what they are' to find out more about what an EPC contains.

Energy Performance Certificates in the UK – what they are

Energy Performance Certificates (EPCs) give information on how to make your home more energy efficient and reduce carbon dioxide emissions. All homes bought, sold or rented require an EPC. Find out what EPCs look like and what they contain.

Example of energy efficiency rating graph for homes

Energy Performance Certificates – what they tell you

How to get an EPC:

Get an Energy Performance Certificate.

EPCs contain:

Information on your home's energy use and carbon dioxide emissions.
A recommendation report with suggestions to reduce energy use and carbon dioxide emissions.

Energy use and carbon dioxide emissions in the UK

EPCs carry ratings that compare the current energy efficiency and carbon dioxide emissions with potential figures that your home could achieve. Potential figures are calculated by estimating what the energy efficiency and carbon dioxide emissions would be if energy saving measures were put in place.

The rating measures the energy and carbon emission efficiency of your home using a grade from 'A' to 'G'. An 'A' rating is the most efficient, while 'G' is the least efficient. The average efficiency grade to date is 'D'. All homes are measured using the same calculations, so you can compare the energy efficiency of different properties.

Around 27 per cent of the UK's carbon dioxide emissions come from domestic homes. Carbon dioxide contributes to climate change. Find out more by reading 'Climate change: a quick guide'.

The recommendation report

EPCs also provide a detailed recommendation report showing what you could do to help reduce the amount of energy you use and your carbon dioxide emissions. The report lists:

Suggested improvements, like fitting loft insulation.
Possible cost savings per year, if the improvements are made.
How the recommendations would change the energy and carbon emission rating of the property.

You don't have to act on the recommendations in the recommendation report. However, if you decide to do so, it could make your property more attractive for sale or rent by making it more energy efficient.

For more information on saving energy and whether you are eligible for energy efficiency grants to make your home more energy efficient, follow the link below.

The certificate also contains:

Detailed estimates of potential energy use, carbon dioxide emissions and fuel costs.
Details of the person who carried out the EPC assessment.
Who to contact if you want to make a complaint.

Make your own recommendation report

The EPC Adviser is an online tool that shows you what you can do to make your home more energy-efficient. You just need your EPC reference number and it will calculate how much money and carbon you can save.

You'll get an instant report that you can change depending on what you would like to do to your home. For example, you might be planning to add loft insulation. So you can add that and see how much money you could save. You can try as many different combinations as you like before you view your results for total cost and energy savings.

What an EPC looks like from the UK

Information about energy efficiency and carbon emissions is summarised in two charts that show the energy and carbon dioxide emission ratings. The charts look similar to those supplied on electrical appliances, like fridges and washing machines.

Which buildings need an EPC in the UK

An EPC is required when a building is constructed, rented or sold. A building will need an EPC if it has a roof and walls and uses energy to 'condition an indoor climate'. This means it has heating, air conditioning or mechanical ventilation. For example, a garden shed would not need an EPC if it doesn't have any heating.

The building can either be a whole building or part of a building that has been designed or altered to be used separately. If a building is made up of separate units, each with its own heating system, each unit will need an EPC.

For more details of when and which types of buildings require an EPC, read 'Improving the energy efficiency of our buildings' on the Communities and Local Government website.

What happens if you are not given an EPC in the UK

If you are not given an EPC when you are entitled to it, you should contact the trading standards department of your local council. Trading standards officers have the power to issue a fixed penalty notice of £200 for domestic properties where an EPC is not provided.

If you are buying a newly built home and an EPC hasn't been provided, you should contact the building control department of your local council.

The EPC Adviser – saving money by improving your home's energy efficiency

Tax on selling property in the UK

If you are selling a property that is your main home you won't have to pay tax on it - provided you satisfy certain conditions. If you're selling a property that isn't your main home, it is likely that you will have to pay Capital Gains Tax.

Tax on the sale or disposal of your main home in the UK

You do not have to pay tax as long as:

You bought it, and incurred any expenditure on it, primarily to use it as your home rather than with a view to making a profit on its sale.
The property was your only home throughout the period you owned it (ignoring the last three years of ownership).
You did actually use it as your home all the time that you owned it and, throughout that period, you did not use it for any purpose other than as a home for yourself, your family and no more than one lodger.
The garden and area of grounds sold with it does not exceed 5,000 square metres (about one and a quarter acres) including the site of the house.

If you are married or in a civil partnership and not separated you and your spouse or civil partner can have only one such residence between you.

Even if all these conditions are not met, you may still be entitled to tax relief.

Tax relief when selling your home in the UK

Private Residence Relief is the name given to the tax relief designed to ensure that most people don't face a Capital Gains Tax bill when they sell their home.

Who qualifies for Private Residence Relief in the UK

Generally, if you have lived in your home and it has been your only home all the time that you owned it, you will not have to pay Capital Gains Tax on any money you make when you sell it because it will be covered by Private Residence Relief.

However, you may not qualify for relief on the whole property if you:

Have a garden or grounds that extend to more than 0.5 hectares (roughly the size of a football pitch).
Have extensive outbuildings.
Have used any part of it exclusively for business purposes.
Bought it primarily in order to make an early sale at a profit.

If you're selling your home and you own more than one property, or you've used part of the property for business purposes, such as using one room as an office, taking in lodgers or letting out all or part of the property for a while, you may be liable to pay Capital Gains Tax.

Whether or not you still qualify for some Private Residence Relief will depend on your exact circumstances, so if in doubt, you should contact HM Revenue & Customs (HMRC) by phone or letter for advice.

When you no longer live in the property in the UK

Even if you no longer live in your property, you can still qualify for the full amount of Private Residence Relief, provided that:

The property has been your main home from the time that you bought it.
It has otherwise fully qualified for Private Residence Relief (for example, you have not used part of the property exclusively for business purposes).
You sell it within three years of moving out or it no longer being your main home.

Working abroad in the UK

If you have been working abroad you will normally be treated as though you have lived in the UK property, and so qualify for Private Residence Relief, provided that both of the following apply to you:

You live in the property both before and after your absence.
You have no other home which qualifies for private residence relief.

This relief also applies when it is your husband, wife or civil partner who was working abroad.

You will still get Private Residence Relief for your time abroad, even if you do not return to live in the UK house, provided that the only reason you do not come back to live in your former home is that the employer requires you (or your husband, wife or civil partner) to work elsewhere.

Owning more than one home in the UK

If you live in more than one property you can tell HMRC which one you want to be treated as your main home, or 'principal residence', for Capital Gains Tax purposes. You do have to reside in, not just own, the property to nominate it as your main home.

You have to make the nomination within two years of changing the number of properties you live in, whether the change is an increase in the number of homes or a decrease.

Failing to tell HMRC which is your main home in the UK

If you don't tell HMRC which property you want to call your main home, the question of whether a home that you sell has been your main home and eligible for Private Residence Relief has to be decided on the facts. So it makes sense for you to decide and notify HMRC before the two years are up.

You don't have to keep the same house as your main home. Once you have nominated a main home you can tell HMRC at any time that a different property should be the one that qualifies for Private Residence Relief but you cannot backdate the change more than two years. You have to reside in a property as your home for it to qualify.

Married couples or civil partners owning more than one home in the UK

If you are married or in a civil partnership and have two or more homes, both you and your spouse or civil partner must notify HMRC which of your homes is your main home for Private Residence Relief purposes - and it has to be the same one. Both of you should sign a notification.

Tax on property that's not your main home in the UK

You will normally have a chargeable gain if your property is worth more than you paid for it when you sell or dispose of it. However, the first £10,100 of your total taxable gains are tax free (for the tax year 2010-11 - the budget proposes this will be £10,600 for the tax year 2011-12).

It's worth bearing in mind that:

When working out the chargeable gain you can deduct some of the costs of buying, selling and improving the property.
If you have made a loss on the property, you may be able to set that off against other chargeable gains you may have.
If you are living together you can transfer property to your husband, wife or civil partner without having to pay Capital Gains Tax.
If you give it or sell it cheaply to your children or to others, you may be liable to pay Capital Gains Tax.

What paperwork do you have to keep?

HM Revenue & Customs (HMRC) recommends that you keep the following information and documents relating to the property:

Contracts for the purchase or sale, lease or exchange of the property.
Any documentation that describes properties you acquired but did not buy yourself: for example, a gift or an inheritance.
Details of any property you have given away or put into a trust.
Copies of any valuations taken into account in your calculation of gains or losses.
Bills, invoices or other evidence of payment records such as bank statements and cheque stubs for costs you claim for the purchase, improvement or sale of the property.

It would also be sensible to keep correspondence with buyers or sellers leading up to the sale of the property.

Tax on buying property in the UK

If you buy a property in the UK over a certain purchase price you have to pay Stamp Duty Land Tax (SDLT). This is charged on all purchases of houses, flats and other land and buildings.

What is Stamp Duty Land Tax in the UK?

SDLT replaced Stamp Duty in December 2003 and is a tax on the purchase price of land and buildings. When you buy a property or take on a lease you may have to pay SDLT.

Paying SDLT in the UK

If you buy either a freehold or a leasehold property and the purchase price is more than £125,000, you pay SDLT of between one and five per cent of the whole purchase price. See the table below for more detail.

If the purchase price is £125,000 or less you don't pay any SDLT.

First-time buyers in the UK

If you are a first-time buyer the threshold for when you start to pay SDLT is £250,000. This is only if you have never owned a house or flat in the UK or anywhere else in the world. If you are buying with someone else they must never have owned property before either. This higher threshold applies to purchases made on or after 25 March 2010 and before 25 March 2012.

Purchase price of residential property	Rate of SDLT (Percentage of the purchase price)	Rate of SDLT - first time buyers (Percentage of the purchase price)
£0 - £125,000	0%	0%
£125,001 - £250,000	1%	0%
£250,001 - £500,000	3%	3%
£500,001 - £1 million	4%	4%
£1 million or more	5%	5%

You can check current rates of SDLT on the HM Revenue & Customs (HMRC) website.

SDLT Disadvantaged Areas Relief

If you buy property in an area designated by the government as 'disadvantaged' you may qualify for Disadvantaged Areas Relief. In this case the threshold for SDLT is £150,000. If you are a first-time buyer you don't need to apply as the threshold for first-time buyers is higher.

You can check the HMRC website to see if the property you are buying is in an area designated as disadvantaged.

Zero-carbon homes in the UK

A zero-carbon home can be connected to mains electricity and gas but needs to have sufficient additional renewable power to cover the average consumption of a house over a year.

In order to achieve this, the fabric of the building has to be insulated and built to very high standards and the house needs to incorporate renewable energy technologies.

The house must be 'zero-carbon' over the course of the year.

Paperwork

As the buyer of the property, you are responsible for completing the land transaction return and paying the SDLT.

However, in practice, your solicitor or licensed conveyancer will usually handle this for you and send it to HMRC on your behalf.

You should check that all the information on the form is correct and complete before signing the declaration.

Viewing a property you are thinking of buying in the UK

When viewing a property it is easy to forget to ask important questions. Use these checklists to help you prepare for visits to properties you are interested in. The lists include questions you could ask the seller and what to look out for while you are in the building.

Research the UK area and property

Try to do as much background research as you can on the property and the area. This makes it less likely that you will waste time seeing something that does not meet your needs.

An Energy Performance Certificate (EPC) will provide some information about the energy efficiency of the building, so ask the seller for a copy. Read 'Choosing a new area to live' to help you find sources of background information about an area.

Viewing the property in the UK

When you are ready to view:

Take someone else with you if you can, preferably someone with different tastes who can spot things that you miss.
Make sure you view the property during the day when you will be able to see better and spot problems.
If you really like a property, try to arrange to view it again at a different time of the day to give you a different perspective.
Try not to view too many properties in one day.
Take your time looking round the property.
Don't be afraid to ask direct and blunt questions about the property.
Don't be pressurised by the estate agent or vendor into making an offer.

Questions to ask the seller about your property in the UK

You might want to ask the seller the following questions:

What is included in the sale - land, garage, furniture, fittings, etc.
What is the cost of Council Tax and the average costs of other utility bills such as electricity, gas and water.
Why are the sellers moving.
Have there been any problems with the boiler; when was it last serviced by a Gas Safe engineer.
If there is a loft, has this been insulated - if so, how long ago.
Does the property have cavity wall insulation.
Has the property been altered in any way - if so are the relevant planning and building control consents available to inspect.
Does the house have full central heating - if so, how old is it.
Is the property in a conservation area or a listed building - this could restrict any future alterations.
Have any of the rooms been decorated recently - if so, why.
What are the neighbours like - are they noisy.
Has there ever been a dispute with the neighbours or anyone living nearby.

Inside the property in the UK – things to look out for

Look out for the following when you are inside the property:

Does the property need updating - if so, how much will this cost.
Are the rooms big enough for your needs - furniture, etc.
What are the views like.
How is the water heated - combination boiler or tank, etc.
Is there any sign of subsidence, like major cracks in the walls or the doors sticking.
Is there a smell of damp or any other sign such as the walls feeling damp, wallpaper peeling, paint bubbling, watermarks or mould.
Do the window frames have cracking paint; if you can press your finger easily into the wood it's rotten.
How much storage space is there.
Are there enough power points - how old do they look.
Does it feel like it could be your home.

UK: the location - things to think about

You should also make sure the location meets your requirements, so here are a few things to think about when choosing somewhere to live:

Nearby main roads, or pubs, clubs or restaurants as these can be noisy.
Nearby railway lines.
Overhead flight paths.
The feel of the community - does it seem friendly.
Does the house get enough natural light.
Is the property well maintained.
The age of the property.
Garden size.
The condition of nearby properties.
What is the public transport like in the area.
Are the local schools good.
Are there any known plans for development in the area.
What are the local amenities like - shops, hospitals, leisure facilities, etc.
What is the crime level like in the area.

Buying a newly built home in the UK - things to check

If you are buying a newly built home, make sure it's covered by a good warranty to cover you if there are problems with the building. Use the checklist to find out things you should look out for, and find out how well the property meets environmental standards.

Warranties for newly built homes in the UK

Make sure that the property is protected by a good warranty (guarantee) provided by a reputable company.

Most new homes are protected by the National House-Building Council (NHBC) 10-year Buildmark warranty and insurance. However some builders use other warranty providers and can give you full details of the property's warranty. Follow the link below for information on the LABC new home warranty, which is an example of another provider.

You should ensure that the final building control certificate is available if the new property is not covered by an NHBC or similar warranty.

Before you buy a newly built home in the UK

Check whether your builder is NHBC registered. You can do this by calling NHBC's helpdesk on 0844 633 1000 or searching the register on the NHBC website. If your builder is not registered with NHBC, check that you will be offered cover from another reputable company.

Check that the builder has a good reputation.

Ask to look around homes the builder has built before and talk to previous customers if possible.

Visit the site - is it tidy and well managed? This will give you information about the builder's commitment to quality.

Take time to understand the cover provided by your warranty.

After exchange

Once you have exchanged contracts:

Get the warranty documents from your solicitor and read them carefully.
Before taking possession of your home, make sure you inspect it carefully for any defects.
Wait until the home is fully completed before you move in; once you have moved in, check your new home again thoroughly.
Report any defects in writing to your builder and make sure you keep a copy.
If you are in dispute with your builder, write to the appropriate NHBC office, if registered under the scheme.
Consider getting a structural survey done, especially if your home is more than two years old.

Code for Sustainable Homes (CSH) – compulsory rating for all new homes in England

All new homes in England now have to have a compulsory rating. This rating lets you know how well your home meets environmental standards.

The code helps homebuyers get better information about the impact of their new home on the environment, and its potential running costs.

For more information on sustainable homes. (see direct.gov.uk website)

Source acknowledged Direct.Gov and reproduced in line with crown copyright rerquirements © details correct as of Aug 26th 2011 please check accuracy of these details after this date www.direct.gov.uk. The preceding information is intended as general interest information, it is not intended that you rely on any information contained within. Always consult a professional.

Estate Agents FAQ's:

I live in the area but why should I consider Best Rate Estate Agents Deals?

Your Best Rate Estate Agents Deal partner will give you a no hassle extremely competitive quote for selling your house, and with the service you would expect from a reliable trusted Estate Agent.

How does your Best rate Estate Agents Deal service differ from using an Estate Agents price comparison web site?

Well frankly we have yet to come across what we would call a true estate agent price comparison web site. If you, like us, expect to be able to compare instantly on line the selling costs charged by a range of estate agents, you will probably be disappointed. Once you disclose your contact details to the Comparison site you will be contacted by sales staff from many estate agents; you see the majority of so called price comparison sites are simply "lead providers," and your details are charged to all the estate agents. You have now become a "lead." Even now the contacting estate agent agents will likely still be extremely reluctant to provide you with their companies costs associated with selling your property, so you are no further forward. Most will explain they need to come to your house to value it in order to provide their costs! Be prepared then for lots of phone calls, and lots of visits to your home; not so straight forward is it?

At Best Rate Estate Agents Deals we believe there is a better way, we want to cut out the middleman and save you time. We have done our homework and teamed up with one estate agent partner who is absolutely committed to giving you a fantastic service, with the range of marketing exposure you would expect necessary to sell your property, all at an extremely competitive price, so that you don't have to spend days sifting through all the possibilities. It is easy as that!