In April 2013 the UK government released a scheme that would help first time buyers and home movers onto the property ladder by making homes more affordable. The scheme allows buyers to purchase a property with the assistance of the equity loan which...
At Stephensons our specialist conveyancing solicitors have carried out thousands of jobs for new build homes, particularly those sold as part of a development. We understand the differing process and time spans involved in this type of conveyancing as opposed to the purchase of pre-owned property. Call 0203 816 0076 for a free, no obligation initial chat with one of our legal advisors.
Due to our experience and the efficiencies that result from our case management system we can ensure that exchanges of contract are dealt with in a timely way and completion takes place within the period specified in the contract.
In addition to this we have experience of a specialist type of conveyancing, which in the current economic climate is becoming increasingly popular. Shared equity schemes are becoming more and more the purchasing choice of first time buyers. With shared equity, the first time buyer does not ‘share’ the ownership with another person. Instead they take out a mortgage and an equity loan. When the property is sold under this scheme the first time buyer has to repay the loans and the proportionate increase in the equity of the property to the lender of the equity loan.