Buying a home is probably the most important and expensive purchase you will make in your life. As a first time buyer there are many things you need to consider and it is important to get the right advice.
When buying your first home you should think about:
Before looking at properties speak to a bank or financial adviser about mortgages. It is important to get advice so that you know how much you can borrow and you can then look at properties you know you can afford.
When taking out a mortgage the lender will carry out a valuation on the property. This is to protect the lenders loan and will only detect severe problems with the property. It is advisable to have a survey carried out which will highlight any problems with the property.
Additional Expenses to consider:
Stamp Duty Land tax (or Land Transaction Tax as it is now referred to in Wales) is only payable on properties over £180,000 and you should factor this into the costs when working out your budget. Legal costs for conveyancing and the cost of searches and the survey will also need to be accounted for.
At Jennifer Melly Law our friendly and attentive conveyancing team can assist you. Our fully qualified solicitors are experienced in all areas of property law & will advise you at each step of the transaction – from having your offer accepted to getting the keys in the door. We will ensure that you are provided with an efficient and informative service.
Please contact Tom Grimes on 02921 672 939 for further information or advice
We advise on:
- Long Term Care and Fees
- Powers of Attorney
- Buying and Selling a Property
- Court of Protection Applications
- Probate and Estate Administration & Trusts
Home Visits Available – Welsh and English Speaking – Flexible Appointments