: The draft is not legally binding. It only becomes enforceable once "exchange of contracts" occurs, at which point a completion date is fixed and the deposit is paid. Renting Out Property (Being a Landlord)
If you are buying a property specifically to rent it out, current market data suggests that while sale prices rose by roughly 6.5% in 2025, rental prices increased by over 9%. Conveyancing Process Stages and Timeline buying and renting property
Buying and renting property involves several key legal and financial stages, ranging from the initial offer to the formal exchange of contracts. Buying Property: The "Draft" Phase : The draft is not legally binding
: The draft is not legally binding. It only becomes enforceable once "exchange of contracts" occurs, at which point a completion date is fixed and the deposit is paid. Renting Out Property (Being a Landlord)
If you are buying a property specifically to rent it out, current market data suggests that while sale prices rose by roughly 6.5% in 2025, rental prices increased by over 9%. Conveyancing Process Stages and Timeline
Buying and renting property involves several key legal and financial stages, ranging from the initial offer to the formal exchange of contracts. Buying Property: The "Draft" Phase