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Buying a Property Frequently Asked Questions

Q: “How do I find out about new properties?”

A: For alerts to new properties coming on to the market which meets your requirements, register your details with your local Edward Mellor branch.

Also, take a look at our Hot Properties page, which is updated each week with the latest new properties and price reductions.

Q: “What is Stamp Duty?”

A: Stamp Duty is a tax payable when purchasing a property for more than £125,000. The price of the property determines what percentage of its value is payable in Stamp Duty. The rates vary based on whether you are a first-time buyer or not. (Note: due to the current changes for stamp duty and the extension until the 30th September 2021 please refer to stamp duty land tax rates on the website)

Rates if you’re buying your first home

You can claim a discount (relief) so you don’t pay any tax up to £300,000 and 5% on the portion from £300,001 to £500,000.

You’re eligible if:

  • you’re buying your first home
  • you complete your purchase on or after 22 November 2017

If the price is over £500,000, you follow the rules for people who’ve bought a home before.

Rates if you’ve bought a home before

Property or lease premium or transfer value SDLT rate
Up to £125,000 Zero
The next £125,000 (the portion from £125,001 to £250,000) 2%
The next £675,000 (the portion from £250,001 to £925,000) 5%
The next £575,000 (the portion from £925,001 to £1.5 million) 10%
The remaining amount (the portion above £1.5 million) 12%

Q: “How much can I afford to spend?”

A: To find out exactly how much mortgage lenders are prepared to lend you to buy a property, book an appointment with Edward Mellor’s Mortgage Advisor. Our team is able to compare rates from a range of mortgage lenders to find the deal that is right for you.

Q: “Once my offer is accepted, how long until I can move in?”

A: There is no definitive answer, as the duration of the sales process depends heavily on the circumstances of both parties (for example, whether there is a chain involved, whether the purchaser is buying in cash or with a mortgage etc).

Generally, the process will take 8 – 12 weeks from the offer being accepted to completion.

Q: “Has the property been surveyed?”

A: Unless our branch advises you that the vendor has undertaken a survey on the property, it is your responsibility to arrange one once your offer has been accepted.

To find out more about the types of surveys available, read our free guide.

Q: “How do I find out if a property is in a chain?”

A: For this and similar details about a property, such as how long it has been on the market, please speak to a member of our team who will be happy to give you more information.

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