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.
Which lenders in Shenley do you work with?
We work with the majority of lenders assisting Shenley home purchasers. Local mortgage lenders and brokers include Daniel Scott, 1 High St, Elstree, Borehamwood, WD6 3BY, Barnett Renley, 45A The Broadway/Darkes La, Potters Bar, EN6 2HZ, and Burberry Consultants, Caldecote La, Bushey, WD23 4EF. The solicitor handling your conveyancing transaction will be able to deal with the particular enquiries and searches your lender requires.
Are your house conveyancing solicitors geared up for handle fast completions on the legal conveyancing of property auction properties in Shenley?
Our team deal with auctions throughout the UK and commonly do the legal conveyancing auction buyers and sellers. It is a smart decision to instruct a SRA regulated lawyer as soon as possible to allow adequate time for a title report of the sellers documents well before the auction day itself.
Post auction day itself, your property conveyancing lawyer will be geared up to finish all of the legal work in 28 days as conventionally required by the conditions of sale.
How can we protect ourselves from getting gazumped?
The custom of deciding to reject a previously accepted offer after a second buyer has made a better offer is called gazumping. There is almost always a chance of gazumping. You should instruct an efficient solicitor early, and even before acceptance of an offer to reduce the chance of gazumping.
We have taken out a quote from you. Could there be any hidden costs?
It is unfortunate that hidden fees are not uncommon in conveyancing. We do not charge any hidden fees. Some firms only provide estimates disguised as quotes, meaning that you could pay much more when you complete.