How does a Help to Buy scheme work for me?
This government-sponsored scheme aims to assist homebuyers with three ways of purchasing a property:
- Help to Buy ISA - if you are a first-time buyer and don’t own any other property (anywhere in the world), and you don’t have another cash ISA opened in the same tax year, when you buy your first home, the solicitor will apply for the government bonus on your behalf when closure of your Home to Buy ISA used to buy the property is confirmed.
- Help to Buy: Equity Loan - if you have no other property and are buying a newly-built home, the government will provide 20% of the cost of the house (up to a maximum of £600,000), leaving you with the saved 5% deposit and a 75% mortgage to cover the remainder. This is open to current homeowners and first-time buyers, and the home cannot be sublet nor can it be used in a part-exchange deal.
- Help to Buy: Shared Ownership - if your household earns less than £80,000, you could be eligible for this scheme, which allows you to buy between 25% and 75% of the home’s value, while the government pays the remainder on which you would then pay rent.
(information retrieved from HM Government’s Help to Buy website on 16 April 2019).
Contact the Money Advice Service, the government’s Help to Buy website, or your local ‘Help to Buy’ agent for more information.
What is the council tax on a Thirties terraced property in Bodelwyddan?
Conventionally a conveyancing report on title should include the appropriate Denbighshire council tax band. The latest tax rates for homes in Bodelwyddan are listed at the Denbighshire council website. At the time of writing (28/12/2012) rates for all bands are:
- Band A - £870.54
- Band B - £1,015.63
- Band C - £1,160.72
- Band D - £1,305.81
- Band E - £1,595.99
- Band F - £1,886.17
- Band G - £2,176.35
- Band H - £2,611.62
The agent has referred the law firm. Must I instruct this firm?
It is common practice for agents to recommend a law firm. Such referrals need to be considered carefully, as it may be the case that the agent recommends whichever firm pays the most per referral, not the law firm with the best reputation.
In respect to the serious river flooding in Wales we are wondering if flood risk searches won't be thorough enough?
A good Bodelwyddan conveyancer will advise you to get additional property environmental searches if the environmental search identifies a significant risk the local Bodelwyddan flood risk
It may be sensible to contact a next door neighbour for additional local history if still concerned.
When in the conveyancing process is it appropriate to arrange a conveyancer in Bodelwyddan?
With a firm offering a 'no move, no fee' conveyancing quote, as soon as possible, as conveyancing involves various tasks which may be carried out very early in the process. Early instruction of a conveyancing firm to act on your Bodelwyddan sale or purchase can limit the risk of your transaction aborting.