Buying a property can be exciting, but for those taking their first steps on the ladder the process can seem overwhelming. 

A lot needs to happen before you get the keys to your first property in your hand and there are many stages involved in the conveyancing process that need to be completed. 
 
In this blog, our experienced residential conveyancers give their top tips to first-time buyers to ensure the purchase of their first home goes smoothly. 

1. Consider different types of properties. Flats, new-builds, and older homes all have advantages and disadvantages. It is worth viewing as many different sorts of properties as possible in your desired location and weighing up the pros and cons of each before deciding which is right for you. 

2. Explore the schemes available. Various government-backed schemes are open to first-time buyers in England and Wales to help them get on the property ladder. Researching the available options to see whether you are eligible can save you money.  

Some of the most popular schemes for first-time buyers include: 

First Homes Scheme. This allows first-time buyers in England aged over 18 a discount of 30%–50% on certain new-build homes.  

Shared Ownership. This enables first-time buyers to buy a share of between 10% and 75% of a property’s total market value and pay rent to the landlord on the rest. 

Mortgage Guarantee Scheme. This enables people to buy a property valued at up to £600,000 with a 5% deposit and is open until the end of June 2025. 

Lifetime Individual Savings Account (LISA). You must be 18 or over but under 40 to open a Lifetime ISA and you can put in up to £4,000 each year, until you’re 50. You must make your first payment into your ISA before you’re 40. The government will add a 25% bonus to your savings, up to a maximum of £1,000 per year, which you must use to buy your first home or save for later life. 

3. Research mortgage rates and offers. Make sure you research mortgage deals and repayment rates thoroughly before committing to a deal. Some factors to bear in mind before deciding on an appropriate mortgage include:  

  • The size of your deposit. 
  • The sort of property you are buying. 
  • Your income. 
  • Your credit commitments and spending habits. 
  • If you want a repayment or interest-only mortgage. 
  • How long you are prepared to ‘fix’ a rate. 

4. Instruct a specialist conveyancing solicitor. A conveyancer handles the legal side of your property purchase and plays a vital role in the process. Property lawyers are experienced in drafting contracts, undertaking searches, and communicating with all the other parties to ensure your property purchase progresses smoothly. 

Don’t just rely on a Google search to find a property solicitor: ask family and friends for personal recommendations. Having an experienced conveyancer you trust can save time, stress and money. 

At Langley Wellington, we have helped first-time buyers locally and nationally purchase their dream homes. Our experienced residential property solicitors will guide you through all the stages of the conveyancing process. 

To speak to one of our team, please call 01452 545 678, email lawyers@langleywellington.co.uk or fill in this contact form

5. Get a survey. A property survey will alert you to any problems or possible risks to the structural integrity of your potential new home. While it can be tempting to look for ways to cut down costs during a move, a survey is not something you should scrimp on. If any unforeseen issues are flagged in the survey, it can be used to negotiate the property’s purchase price if significant works are required to rectify faults. 

6. Budget. It is not just the house purchase price and mortgage payments that you have to allow for, buying a new home also involves other costs. These can include: 

  • Survey costs. 
  • Solicitor fees. 
  • Mortgage arrangement and valuation fees. 
  • Removal costs. 
  • Buildings insurance. 
  • Furnishing and decorating costs. 
  • Stamp Duty. 
  • Council tax and utility bills. 
  • Service charges and ground rent. 

Budgeting effectively from the start ensures you do not over-stretch yourself. 

Click here for more tips on how to ensure your house purchase goes smoothly.  

Residential Conveyancers Gloucester and Cheltenham 

At Langley Wellington, our experienced residential conveyancing solicitors have extensive experience helping first-time buyers take their first steps on the property ladder. 

We will work closely with you, ensuring you are aware of what needs to be done at every stage of the process, and overseeing the transaction to ensure it runs smoothly.  

Langley Wellington has a dedicated department that specialises in buying and selling residential property called Cotswold Conveyancing Centre

From here, our experienced conveyancers provide you with market-leading services and adopt a pragmatic and straightforward approach that puts you at the heart of your property purchase. 

By instructing our knowledgeable and professional team, you can be confident that we will do all we can to deliver a truly efficient, cost-effective, personal conveyancing service. 

To speak to us today, please call 01452 545 678, email lawyers@langleywellington.co.uk or fill in this contact form

This blog is not intended to be taken as advice or acted upon. If you are seeking legal advice, please get in touch with our team of solicitors.