First Time Buyers Solicitor

Buying your first home is a huge milestone. For many, it’s the single biggest investment we have ever made. So it’s natural to be excited, but also have lots of questions.

Our expert team of conveyancing solicitors assist first time buyers. We offer a range of services to guide you throughout the process of buying your first property, making it as simple as possible.

How Our First Time Buyer Solicitors Can Help

Our residential property solicitors have vast experience in helping people buy their first property. We can help with;

• Buying a house
• Help to buy
• Right to buy
• Joint or shared ownership
• Buy to let
• Buying a new-build property

Our core services for first time buyers include;

Property Searches

Most mortgage lenders require you to carry out searches before they agree to lend the money to you. These searches could include;

• Local authority searches – these searches look at what is going on in the local area that might affect house prices in the future. For example, plans for new housing estates, roads, or commercial applications.
• Water and drainage searches – these searches look at whether the property is connected to a water supply and where the mains supply is in relation to the property. They also consider if foul water and surface water drain into the public sewer, and where the sewer is in relation to your property. This could affect your ability to extend the property later on.
• Environmental searches – these look at the property’s proximity to water bodies, flood risks, ground stability, and other environmental factors.

We’ll advise you on what searches you need and take care of them for you.

Contract Review and Negotiation

As your solicitor, we review contracts and negotiate terms to safeguard your interests, ensuring a fair and favourable agreement.

• Reviewing terms and conditions: A careful analysis of all contractual provisions.
• Negotiating favourable terms: Advocating for terms that protect your interests and investments.
• Ensure legal compliance: Ensuring the contract adheres to all legal requirements and standards.

Financial Guidance

Our team can help you navigate the mortgage process.

• Mortgage Advice: Guidance on the best deals.
• Budget Planning: Assistance in planning and managing your budget effectively.
• Stamp Duty: Advice on stamp duty obligations and potential exemptions for first-time buyers.

Get a Conveyancing Quote

You can either get in touch with our conveyancers or get an online quote by using our conveyancing calculator.

Do I Need a Solicitor to Buy a House?

Legally speaking, you don’t need a solicitor or conveyancer to buy a property. However, the legal requirements of buying a property are complex. Especially for first-time buyers. There are lots of pitfalls to consider and the negotiation of contract terms is best left to experienced solicitors.

We can guide you through the process, help to reduce the risks, and take care of the legal aspects.

What is the Process of Buying a House?

Buying a house can feel confusing, especially when you’re buying your first. The process might vary slightly based on individual circumstances. However, these steps provide an overview of what you can expect when buying a house;

Step 1: Setting Your Budget

Before you start house hunting, you need to make sure you know your financial capacity. Figure out how much you can afford to borrow by adding up your income, savings, and any investments you have.

Step 2: Arrange a Mortgage in Principle

It’s a good idea to get a mortgage in principle before house hunting. This is a non-binding agreement from a lender that tells you how much they might be willing to lend you based on your financial circumstances.

Step 3: Find a Property

Once you know how much you might be able to borrow, you can start looking for your dream home. You can do this through estate agents, property websites, or local listings. When you find a property you like, arrange to view it in person.

When you find a property, you want to buy, the next step is to make an offer to the seller through the estate agent. When your offer has been accepted, the property will be taken off the market, and the paperwork will begin.

Step 4: Hire a Conveyancing Solicitor

At this point, you will need to hire a conveyancing solicitor or a licensed conveyancer to handle the legal aspects. They will draft contracts, conduct property searches, and liaise with the seller’s solicitor.

Step 5: Get Property Survey

Before you complete the purchase, it’s wise to have a property survey conducted. This will identify any structural issues or necessary repairs. These might influence your decision to buy the property or the price you’re willing to pay for it.

Step 6: Finalise Mortgage and Contract

Based on the survey results, you might want to renegotiate your offer. Once agreed, you can formally apply for a mortgage. Meanwhile, your solicitor will finalise the draft contract and detail the terms of the sale.

Step 7: Exchange Contracts

Once both parties are satisfied with the terms, the contracts are exchanged. This makes the agreement legally binding. At this point, you’ll need to pay a deposit to the seller.

Step 8: Prepare for Completion

Between the contract exchange and completion, your solicitor will prepare the transfer deed and make arrangements for you to pay the outstanding balance. You should also finalise your moving arrangements during this time.

Step 9: Completion

On the agreed completion date, your solicitor will transfer the remaining funds to the seller’s solicitor. Once received, the seller will hand over the keys, and you can move into your new home. Your solicitor will then register the transfer of ownership with the Land Registry.

Step 10: After Completion

After moving in, it’s time to settle into your new home. Make sure to notify every one of your changes of address and set up necessary utilities and services. Your solicitor will also pay the Stamp Duty Land Tax.

What Costs Are Involved When Buying a House?

Apart from your deposit and the cost of the property itself, there are other fees to consider. They include;

• Mortgage broker fees: If you use a broker, they may charge you a fee or commission. Some work for free and take a commission from the lender.
• Mortgage arrangement fees: These are administrative fees charged by your lender. You can often choose to pay these fees upfront or add them to your mortgage. Some offer fee-free mortgages but may charge a higher interest rate instead.
• Valuation fee: Lenders sometimes charge a fee to assess the value of the property for mortgage purposes. Costs can vary depending on the lender and the property’s value.
• Surveyor’s Fees: The cost will depend on the type of survey.
• Conveyancing fees: This covers the legal work involved in transferring property ownership. It includes solicitor’s fees, Land Registry fees, and costs for various legal searches.
• Electronic transfer fees: This fee covers the lender’s cost of transferring the money to the seller’s solicitor.
• Stamp Duty Land Tax: You may need to pay Stamp Duty Land Tax (SDLT) on properties over a certain value. Rates and exemptions vary, and first-time buyers often get some relief.
• Estate agent fees: These are usually paid by the seller, but make sure to check the terms in case there are any conditions under which you might have to cover some of these costs.
• Removal costs: Don’t forget the costs associated with moving your belongings to your new home. These costs can vary widely depending on the distance and the amount of stuff you have.
• Building and contents insurance: Most lenders require you to take out buildings insurance on your home. It’s also a good idea to consider contents insurance.

Why Choose Ringrose Law Conveyancing Solicitors?

At Ringrose Law, we understand how overwhelming buying your first house can feel.  Even finding a solicitor can feel like a huge decision. A good conveyancing solicitor can make the conveyancing process as smooth and as stress-free as possible.

Many of our solicitors specialise in first time buyer conveyancing. We also remember buying our first home. The nervous excitement, the questions, the anxiety. We’ll guide you through process making sure we dot every ‘I’ and cross every ‘T’. You’ll have peace of mind, feel reassured, and looked after.

• Simple and straightforward: We’ll speak to you in plain, easy-to-understand language and not confuse you with complex legal jargon.
• Reliable: If you have questions, we’re available to answer them. We’ll always keep you up to date with progress and you won’t have to chase us to find out what’s going on.
• Convenient: We have an online conveyancing service which means you don’t need to physically visit the office. Not only is this a huge time saver, but it also means you don’t need to hire a solicitor that’s local to you.
• Fixed fees: Our fees are fixed and transparent. The price we quote you is the price you’ll pay. There are no hidden fees.