Help For First Time Buyers

First Time Buyer Offer

Buying your first house will most likely be the biggest purchase you have made to date.  There will be dozens of things you will need to think about from mortgages and surveys to colours of wall paper and soft furnishings.  Amongst all of this the question at the back of your mind is most likely going to be ‘what is all this going to cost?!’  

At Beviss and Beckingsale we understand that as a first time buyer there is enough expense surrounding buying a house and therefore offer a low fixed fee for the necessary legal work.  There are no hidden costs and if your purchase does not complete then you do not pay our fees.  We charge £550 plus VAT for the conveyancing on a freehold or leasehold property; it makes no difference therefore whether you are buying a house or a flat, so long as the purchase price of the property does not exceed £250,000.00.

If you are buying a shared ownership property the fees will be the same, apart from an additional £50 plus VAT which we charge to deal with the requirements of the Housing Association.

Other things you need to budget for:

There are costs to third parties which you will have to pay and these are detailed below.  However, the good news is if you are buying below £250,000 you will not be paying Stamp Duty Land Tax.  Payments to third parties will be payable whether or not your matter proceeds to completion.

Search fees:  In the region of £250 - £300.

Land Registration Fee: In the region of £130 - £280, depending on the price of the property.

Bank Transfer fee:  £40

Notice of Assignment fee: In the region of £30 plus VAT (sometimes more) (leasehold properties only)

What do we do?

Once you confirm you would like us to act for you the following will happen:

• We review the contract of sale and the title to the property supplied by the sellers solicitors and raise any necessary enquiries;
  
  We apply for all searches, review the results and raise questions with the sellers solicitors about any issues the searches may highlight;
  
  We liaise with your lender once a mortgage offer is received to make sure everything is in place for funds to be with us on the completion date;
  
  We complete your Stamp Duty land Tax Return, which is the document sent to H M Revenue and Customs.  This is necessary even though you not be paying Stamp Duty Land Tax;
  
  After completion we register the property in your name at the Land Registry and provide you with a copy of the completed title.
  
  The only thing you will need to do is find the property and apply for a mortgage. We can take care of the rest.
  
  Our property solicitors appreciate that you may have a million and one questions throughout your purchase, and they are therefore on hand in the office, on email, or on the end of a phone, to discuss your questions or concerns.  Every one of our staff that you deal with has been through the conveyancing process themselves and knows what a daunting time it can seem.  They therefore appreciate the importance of being on hand to answer any question you may have.
  
  You will have to deal with many different people throughout your purchase, estate agents, mortgage companies and surveyors to name a few, but by instructing a solicitor at Beviss and Beckingsale you can be confident that you will always have someone looking out for your interests.