London property for sale: new-build apartments, off-plan and resale homes in the UK

Off-plan

Off-plan and new-build property in the UK

Off-plan property in the UK, including most London new build apartments, is sold by developers with a structural warranty and under a consumer code. There is no VAT for the buyer on a new home: new-build and resale homes pay SDLT at the same rates, on completion.

• Warranties such as NHBC Buildmark protect against loss of deposit, or extra cost to complete, if the builder becomes insolvent before completion, then provide a two-year builder warranty period and eight years of insurance cover for defects.
• Builders registered with the New Homes Quality Board must follow the New Homes Quality Code, which requires deposits to be protected, bans high-pressure selling and gives buyers access to the New Homes Ombudsman Service.
• Version 2 of the New Homes Quality Code applies to homes reserved on or after 2 March 2026 and adds a five-year affordability schedule of expected ownership and management costs.
• Registration with the New Homes Quality Board is not mandatory, and other builders follow codes such as the Consumer Code for Home Builders.
• Under the Consumer Code for Home Builders, a reservation fee must be refunded if you withdraw within the 14-day cooling-off period, less reasonable costs disclosed in advance.

Secondary market

Resale property in the UK

In England a resale purchase is handled by a solicitor or licensed conveyancer, with no notary stage. Contracts are exchanged with a deposit, commonly 10% of the price, and the sale completes later, when the balance is paid and the transfer is registered at HM Land Registry.

• The SDLT return must be filed and the tax paid within 14 days of completion, normally by your conveyancer.
• Many London flats are leasehold, so check the ground rent and service charges.
• A draft Commonhold and Leasehold Reform Bill, published on 27 January 2026, proposes capping existing ground rents at GBP 250 a year, but it is still in pre-legislative scrutiny and not law.
• Prime resale areas such as Westminster and Kensington and Chelsea hold the largest numbers of overseas-company-owned titles in London.
• Non-residents who later sell UK residential property must report and pay any Capital Gains Tax within 60 days of completion.

Buying costs in United Kingdom

SDLT standard rates (from 1 April 2025)

0% up to GBP 125,000; 2% on GBP 125,001-250,000; 5% on GBP 250,001-925,000; 10% on GBP 925,001-1.5 million; 12% above GBP 1.5 million.

Higher rates for additional dwellings

5 percentage points on top of standard rates for transactions from 31 October 2024 (up from 3%), so 5% / 7% / 10% / 15% / 17% across the bands.

Non-resident surcharge

An extra 2 percentage points for buyers not in the UK for at least 183 days in the 12 months before purchase, since 1 April 2021. Combined with the higher rates, up to 19% on the slice above GBP 1.5 million; a refund can be claimed if the 183-day test is met within the following year.

First-time buyer relief

0% up to GBP 300,000 and 5% on GBP 300,001-500,000; no relief if the price exceeds GBP 500,000.

Company purchases

Higher rates apply to residential property of GBP 40,000 or more, and a 17% flat rate may apply to corporate purchases over GBP 500,000. ATED for 2026/27 runs from GBP 4,600 (GBP 0.5-1m) up to GBP 303,450 (over GBP 20m).

High Value Council Tax Surcharge (planned)

Planned from April 2028, not yet in force: GBP 2,500 to GBP 7,500 a year on homes in England worth GBP 2 million or more. Its design was consulted on from 19 May to 14 July 2026.

SDLT rates shown apply in England and Northern Ireland; confirm the rules for property in Scotland or Wales with your solicitor.

Residency through property in the UK

There is no residency route through property in the UK. Buying a home confers no immigration status, and the Tier 1 (Investor) visa, the former investment-based route, closed to new applicants on 17 February 2022.

For buyers who do move to the UK on another basis, the remittance basis for non-domiciled individuals was abolished from 6 April 2025 and replaced by a four-year foreign income and gains regime for new arrivals after 10 years of non-residence.