Verisona conveyancing is part of bpl solicitors. We have a number of offices located in the North of England and we can support you with your property purchase with a government scheme.
There are several programmes that the government have created to help individuals purchase their first homes or help them remain on the property ladder. At Verisona Conveyancing, we are experienced in dealing with government backed schemes and more than happy to do a transaction with one.
It is important to make sure you are a first-time buyer as you get more financial benefit. If you have previously owned a home, including inherited or brought a property abroad, you won’t be classed as a first-time buyer. This means you will have to pay stamp duty and won’t be able to use some of the government backed schemes.
It is important to ask at the start to make sure that you and your solicitor are able to meet the expected timeframes. This is especially important if you are planning to put down a 5% deposit as this government backed mortgage scheme will only operate until December 2022.
As your legal representative, the team at Verisona Conveyancing will be able to advise you from start to finish. When instructing us, it is important to make us aware of any schemes you are planning to use from the start. This is because, we will have to make sure we can advise you when to close down your accounts (help to buy for example) so we can access your full deposit for exchange. Without this closure of accounts your lender will not be able to proceed with the mortgage.
Even though these schemes aim to help first-time buyers to get onto the property ladder, they don’t cover your expenses when purchasing your first home. You will still have to pay for your conveyancing fees, surveys and other moving expenditures yourself.