By Frances Traynor
19th April 2018
Welcome to the First Time Buyers' Hub from Homeward Legal, the property conveyancing experts. In this “one stop shop” we aim to help you not only understand the buying process, but also find the best prices for property services to help you buy your first home. While it can be daunting, we will try to demystify the process through advice, timelines and free downloads – as well as a fixed conveyancing quote for your first ever property purchase!
Big news for first time buyers: As of 22nd November 2017, Stamp Duty has been abolished on homes worth up to £300,000 in England, Wales and Northern Ireland. There were many changes announced in the Chancellor’s Budget for those wishing to get on the property ladder. Read more about the Budget here.
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Stamp Duty To Pay
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We can help first time buyers get a fixed quote for conveyancing, as well as a survey. Here are the options, and further resources are below.
Welcome to Homeward Legal's First-Time Buyers' Hub – here to help guide you through buying your very first home. Buying a new home shouldn't be a scary experience, but with so many things to consider and arrange, we understand how daunting the journey to becoming a home owner can sometimes seem.
We are here to help you every step of the way, with no hidden surprises and no extra costs. Our friendly team are available seven days a week while our nationwide panel of solicitors and conveyancers have the knowledge and expertise to ensure your transaction goes smoothly. You can use Homeward Legal for just part of the buying process, such as the conveyancing, or for the whole package, including building survey. Whatever you need, we’re here to help. Start the journey to collecting the keys of your very first home right here, right now!
Homeward Legal has put together some handy guides to help you with your first property purchase. Let us know if there is anything we've missed, and as ever, feel free to call 0800 038 6699
How long will it take for the conveyancing required to buy your first home to be completed. The reality is there is no definitive answer because of the potential for delays on both sides. However, we've compiled a timeline that will give you a guide to the process and a rough idea of how long each step takes to be completed.
Making an offer that's acceptable to all parties and instructing a solicitor.
The solicitor will start to draft the contract to buy the property and request information from the seller that's essential to the sale. This will include examining the title deeds, likely to be held by the seller's mortgage lender, and enquiries on the leasehold or freehold status of the property. If leasehold, the solicitor will prepare a management pack that includes detail of the annual leasehold cost.
Enquiries for essential searches will be placed with the relevant local authorities by the solicitor. These searches include water and environmental details, any mining information, flood data and details about any planning notices or prospective roadworks that could affect the property.
Depending on the property you are buying, you may decide to arrange a HomeBuyer report or a Building Survey, both of which will be completed by a RICS property surveyor. We offer both types of survey, just go through our quote to start the process!
Solicitor will report back to the buyer on the searches results and liaise with the seller's solicitor on those results. They will check on the validity of the mortgage offer and arrange for the transfer of the deposit so the purchase can be completed on time.
Arrangements will be made for signing the contract that confirms the sale. Once contracts are exchanged, you cannot back out of the purchase.
The solicitor will register the purchase with the Land Registry and send a completion statement that details all costs involved in the transaction to the buyer. Payment will be made to the seller and a move-in date confirmed.
Buying a home for the first time is a joyful experience eventually – but newcomers to home ownership can often feel a little overwhelmed by what's involved. When you need clear, professional advice on the legal journey ahead, Homeward Legal is the first place to call.
Our team are the welcoming, experienced voice on the other end of the phone who can help remove any stress from the legal process.
Here's what we can do for you:
Our comprehensive step-to-step guides to the whole process plus those essential hints and tips on buying will answer all the questions every first-time buyer has about becoming a property owner. And if you need more advice or information once you've got a quote from Homeward Legal, our team are standing by ready to deal with any queries you have.
Ready to find out more? Then let's go!
Frances Traynor writes for several national property legal websites, giving her perspective on recent events affecting the property sector, and offering practical advice to home buyers and sellers.