At Goddard Dunbar we pride ourselves in having a high success rate in completing transactions within 90 days, however, this occasionally may take longer due to unforeseen circumstances that are out of our control.
The Government’s “Help to Buy Scheme” is designed to help both first-time buyers and existing homeowners buy new-build properties which might otherwise be out of their reach which benefits many people.
The scheme is designed for everyone – as long as you fit the required criteria for being able to obtain a mortgage then you are eligible for the scheme. However, it is not available for buy to let purchases.
If you are interested in getting a mortgage but only have a small deposit, you’ll need a minimum deposit of 5% and the scheme will give you what’s known as an “Equity Loan” which allows you to buy your new house. The Government then lends you up to 20% of the value of the new property, on top of your ordinary mortgage, which you can repay within 25 years or if you were to move. When you sell or if you wish to repay your equity loan, the government takes back 20% of the value of the house at that time. You can have a larger deposit and take less than 20% as an equity loan, it all depends on you.
So, if you have a 5% deposit and a mortgage offer of 75%, then the scheme will top up the balance of 20% so that you can buy.
The scheme is run by the housebuilders themselves and housing associations who deal with new homes, which makes the initial application relatively straightforward. However, your legal adviser needs to understand fully the obligations and requirements of the scheme.
While it is a simple scheme, in essence, the procedure which we will need to follow on your behalf and the documentation which you will be required to complete is quite complicated.
You need to be fully aware of what you can and cannot do in circumstances where you have this type of loan.
Goddard Dunbar is a preferred supplier of conveyancing services to buyers of new properties on various developments currently being constructed by a major developer and our expertise benefits our clients in bringing their purchases to a speedy and satisfactory conclusion, due to our family with extensive documentation supplied by the developer at the beginning of the transaction and also the Help to Buy Scheme and its documentation and requirements.
More importantly, because we know what we are doing as explained above, we do not charge you over the odds for acting on your behalf in the purchase of your new home just because of the equity loan. We will quote a price to you which is both competitive and fixed, so it will not change once we have started working for you.
Are you a house builder?
Do you have your eye on a plot of land for redevelopment?
We can help!
Hannah Stazaker, our Head of Land and Development is here to help with all stages, from initial acquisition of the land to plot sales.
Call 01782 284320, select option 1 and then option 4.
Email info@goddarddunbar.co.uk
Our specialist conveyancing team using their knowledge and expertise have helped thousands of satisfied clients, with their sole aim to help you move into your new home stress free and as soon as possible.
If you are a Landlord or property investor purchasing a property, we will act swiftly on your behalf so you can maximise your investment opportunity which benefits you.
The flexible customer service approach we adopt since ensures that our clients are kept informed during all stages of your sale, purchase or property transfer. – No one is kept in the dark with Goddard Dunbar.
Our competitive fixed fee service means that you are confident of the price you will pay and that it will not increase.
Don’t pay excessive Trust fees until you’ve spoken to our team at Goddard Dunbar & Associates Ltd, you’ll be surprised!
We are here to take away some of your pain and can remove McClure’s professional trustees from your Trust and appoint a family member, or even wind it up if preferred all for a reasonable fee.
For more information, call today on 01782 284320 > Option 3 to speak to the team, or email us at info@goddarddunbar.co.uk.
1 Trust – £900 plus VAT plus disbursements
2 Trusts – £1,200 plus VAT plus disbursements
At Goddard Dunbar, we believe that specializing is everything.
We specialize in conveyancing & probate.
Our Associate Solicitors specialize in Divorce & Family Law.
They are some of the best lawyers in our area that is why we recommend them
Click here to find out more*
*you will then be leaving our CLC Regulated website and be connected to an SRA Regulated website
At Goddard Dunbar we believe that to specialize is everything.
We specialize in conveyancing & probate.
Our Associate Solicitors specialize in Employment Law.
They are some of the best lawyers in our area that is why we recommend them
*you will then be leaving our CLC Regulated website and be connected to an SRA Regulated website
At Goddard Dunbar we believe that to specialize is everything.
We specialize in conveyancing & probate.
Our Associate Solicitors specialize in Personal Injury and Medical Negligence.
They are some of the best lawyers in our area that is why we recommend them
Click here to find out more*
*you will then be leaving our CLC Regulated website and be connected to an SRA Regulated website