From Housing Solicitors To ISAs: Advice For First Time Buyers
If you’re looking to acquire your first property, be it independently, alongside a partner, or with a helping hand from others, there is plenty to consider. From general legal questions to circumstantial requirements and issues, the process is unlikely to be straightforward. From saving up the funds to form your deposit, to the legalities around equity and ownership, Andrew Lee Property Lawyers maintain a comprehensive understanding of property law and your rights as a tenant or first time buyer. Read on and keep yourself informed.
Planning And Budgeting
Extensively planning and budgeting for various possibilities and changes in the housing market will leave you best-equipped to tackle problems later down the line. If you’re acquiring your first ever property, the likelihood is that you’ve been saving up for some time, so forming a plan of the property type, location, and general budget is recommended in the meantime. Alongside giving you a more extensive view of the options available to you, if you come equipped with ideas.
The Lifetime ISA
The Lifetime ISA is an ISA scheme aimed at young people looking to acquire their first home. A scheme introduced by the government to replace the popular ‘help to buy’ ISA. Owners of an account are incentivised to save money towards their first property via a cash bonus relevant to their deposits. Able to receive up to £1000 each year for every £4000 deposited, there are plenty of providers to consider, each with distinctive benefits.
Tailored Professional Advice
Advice from trustworthy housing solicitors will give you further insight into your options in the property market, as we ask all of the important questions. Do you qualify for a loan? Are you accounting for the additional costs of sourcing and investing in a property? Do you understand the terminology within your contract? All of this speculation and more can be answered by our helpful legal advisors.
Don’t Rush
A mistake made by many first time buyers is rushing into the process of acquiring a home, not accounting for the finer details. If the housing market is particularly tight, and you’re in no desperate position to acquire property, significant savings could potentially be made simply by waiting a couple of months for the market to shift. While real estate values generally rise over time, the market is unpredictable, not to mention the prospect of investing in property, and later realising there was a more appealing prospect elsewhere.
Searching for ‘property lawyers Maidstone’? Andrew Lee Property Lawyers can oversee the process of buying, selling, or leasing a property, ensuring you don’t encounter any unexpected issues along the way.
Our experienced team maintain an updated knowledge of property law, and always stay in-the-loop when it comes to legal developments. It can be easy to overlook or misunderstand elements of your contract, but you can count on us! Simply contact our housing solicitors at your earliest convenience, for conveyancing services, mortgage advice, and much more.
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