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The Silicon Review Asia

Property woes bring additional legal charges on Britons

Property woes bring additional legal charges on Britons

Laws on property make it difficult for the Britons to access land and other properties. Many buyers are tripped up by the costs of up to £5,000, which they don’t factor into their original budge and that makes it difficult for them. The buyers had to pay an extra £5,000, and 18 per cent of first-time buyers admit they were completely unaware of the valuation fees, survey fees and other amounts which have to be paid. Reports says that the buyers are spending 73 per cent more than what they have initially planned. The legal charges comprise the broker fees as well as the stamp duty. This has resulted in confusion among the buyers as many of them are unable to calculate the budget before hand. The laws which are supposed to support the inhabitants of a country is now overburdening the residents with an extra huge amount that comes out of the blue. A spokesperson for Barratt Homes said: “The results of this research clearly show buyers are struggling to understand not only how much they need to budget, but also what that budget should be covering.”  The system has already made many of them dependent on their relatives and parents if they want to buy homes. The law is expected to change sooner as it creates inconvenience to all property buyers and sellers within the country.

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