Whether a property is being purchased by a private landlord or a homebuyer, the process involved in securing bricks and mortar is often a lengthy one.

And content editor at property portal FindaProperty.com Michael O'Flynn has claimed that the procedure is "quite bureaucratic".

Commenting further, he explained that all property buyers should remember that in the UK "it's still a case of caveat emptor [let the buyer beware], so don't try and cut corners".

"Given the expense of the transactions, it's not surprising that there is a lot of paperwork,"he added.

Property tax is one bureaucratic element of the home-buying process and HM Revenue &Customs' current stamp duty rates mean there is a one per cent charge on properties bought between £175,000 and £250,000, and higher levies for more expensive homes.

However, all properties purchased for up to £175,000 fall under the stamp duty threshold and this will be the case until the end of 2009.

Written by John Weeks


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