Over the years a number of Government schemes to enable lower income families to get on the property ladder have been introduced. Shared equity agreements, First Time Buyers Initiative and Help to Buy are just some of the ways those who would find it difficult to buy a home with a conventional mortgage have been offered assistance. As with all home purchases, the services of an experienced conveyancing solicitor are essential for anyone embarking on an assisted buying scheme.
There are a number of criteria which must be fulfilled to enable potential buyers to apply for one of the schemes. Regional Housing Boards decide who qualifies and assistance is usually offered in terms of greatest need for housing.
The qualifying criteria for applicants will vary between schemes, but usually include the following:
Some schemes offer all homes on a development as assisted buys, while some, newly built estates and development projects, will include a percentage of the properties for sale through an assisted buying scheme such as Shared Ownership or Help to Buy.
Potential home-owners who want to find a property in a particular area will need to use one of the official regional HomeBuy agents in England, which act on behalf of the Government to administer the schemes.
To find out more about the range of schemes available and how you can apply the Gov.UK website offers key information and links for potential applicants.
With all assisted ownership schemes, there are a number of aspects to be considered by buyers when comparing the transaction with a conventional home purchase. This is where the skills, experience and attitude of residential conveyancing solicitors Healys can really help.
These schemes are available throughout the UK and Healys, which has offices in London and Brighton, is able to act for clients anywhere in the country.
Most first-time buyers are unsure of the procedures and legal complexities involved in buying a home but Healys lawyers offer not just a cost-effective and straightforward service but also pride themselves on communicating regularly with you to ensure the property transaction proceeds smoothly.
To find out how Healys can help you buy your first home, why not call for friendly no-obligation legal advice on our residential conveyancing solicitors’ services.