How Local Property Solicitors Can Help First-Time Buyers

Buying your first home is an exciting landmark in your life, but it can also feel incredibly intimidating. You’ll be entering an unfamiliar world, full of technical terms, and making financial decisions on a scale you’ve never dreamed of before.

There’s never been a more important time to have expert, informed local property solicitors on your side to guide you through the steps and stages on your way to owning your very own home.

How Holdens Law can help first-time buyers in Lancaster and Kendal

Here at Holdens Law, we’ve been serving the local community since 1847. It may be your first property purchase, but it certainly isn’t ours. Our expert conveyancing team have helped thousands of first-time buyers negotiate the property buying process, so you can rest assured that you are in safe hands.

You can talk to Holdens Law before you start your house search, so that you understand all the costs involved in using local property solicitors. Our team will explain the various charges you need to cover, including searches and surveys, stamp duty, legal fees and other costs. That way you’ll know how much you need to save and there’ll be no nasty surprises to spoil your big move.

First class advice for first-time buyers

While we’re not formal financial advisors, as your local property solicitors, Holdens can help you to make sure your finances are in order. This includes dealing with your mortgage lender and making sure that any financial contribution from third parties  is arranged correctly for everyone involved.

We’ll advise on your various purchase options, including Help to Buy and shared ownership schemes, explaining the pros and cons of each option. Then when you’re ready to push the button, we’ll take care of all the conveyancing paperwork to make your new home legally yours.

First time buyer benefits

As a first-time buyer, you’ll have access to a number of different ways to buy a home that are not available to other buyers. These include:

• Shared ownership schemes – where you buy part of the property and rent the rest
• Help to Buy – where you only need a 5% deposit, and the government provides 20% as an interest free loan for five years (available on new build only)
• Help to Buy ISA – where the government will top up savings of up to £12,000 by 25%, adding up to £3,000 to your deposit funds
• Stamp Duty exemption – as a first-time buyer, you are exempt from stamp duty on properties up to £425,000

The team at Holdens Law can advise you on the legal aspects of all of these schemes to help you make the right choice for you and your individual circumstances.

Advice on shared ownership and family help

With property prices rising all the time, many first-time buyers have to get help from their family to finance their new home, or they have to consider shared ownership with a friend or family member. According to Finder.com, more than a third of first-time buyers get help towards their deposit from a friend or family member.

Here at Holdens Law, we can draw up formal agreements for family loans, so everyone knows exactly where they stand and there are no conflicts in the future. We can also draw up contracts for shared ownership, so you know your rights if any of the co-owners want to sell their share.

Our team will also liaise with your mortgage lender, to ensure that they’re fully aware of your circumstances, so there are no hold ups with your funds that might delay your moving day.

Your local property solicitors

Using local property solicitors, rather than an online ‘conveyancing factory’, has many advantages, as Natalie Bradley, from Holdens Law conveyancing team explains:

“Using a local firm means you can call in for help and support whenever you need it,” she says. “We’re here to explain all the different aspects of buying your first home, with familiar faces keeping things plain and simple, while at the same time making sure we have everything covered for a smooth and straightforward move into your first home.”

To find out more about Holdens Law local property solicitors in Lancaster and Kendal, get in touch today.

We look forward to helping you to buy your first home.