Beat the First time Buyers Deadline and save before it’s too late

Posted by admin on March 14, 2012 under Conveyancing Advice | Comments are off for this article

Any first time buyers need to realise and ensure there conveyancing solicitors realise that the stamp duty concession for first time buyers buying a property up to £250,000.00 is fast approaching. The government decided not to extend the stamp duty scheme and the deadlines for completion of your purchase is 24th March 2012. The scheme allowed first time buyers to pay no stamp on property purchases up to and including the value of £250,000 rather than paying 1% of the property value like standard property buyers. Conveyancing solicitors are now facing growing volume of first time buyers anxious to complete with the concessional period. Many first time buyers have informed there conveyancing solicitors that you wished for completion of their property purchase before the concessional discount ends. The has increased the pressure on conveyancing solicitors and conveyancers to preform within tight schedules as potential the saving for a first time buyer be anywhere up to £2500. With mortgage companies being more picky on who they lend to and also the length of time it takes the mortgage company to do its checks, the strain of completing the transactions is all with eth conveyancing solicitors. In essence, by taking advantage of the scheme you would at least under all circumstance least save all the costs of your conveyancing and disbursements which is a great deal of money for any home buyer let alone a first time buyer. When choosing a conveyancing solicitors please ensure that you employ them on no completion no legal fee basis and this will ensure that if the solicitors do not complete the transaction within the required period you then you are in a position to cancel the transaction without paying the legal costs. This method can ensure your conveyancing solicitor complete within the timeframe.