Conveyancing For First Time Buyers

Buying a house for the first time? Make sure you get the right advice.

Buying your first home is an exciting and sometimes daunting prospect. You may not be sure what steps you need to take or what you need to be aware of. Getting the right advice is vital. It can also take the stress and the worry out of the transaction.

If you require any advice from one of our specialist lawyers or seek a quotation we are only a phone call or email away. Our team at Lovedays Solicitors are happy to discuss the details of any transaction free of charge and provide a no-obligation fixed quotation for your conveyancing requirements.

Many thanks for the excellent service you have provided for my recent house purchase. I have been extremely grateful for the caring and understanding way you have dealt with my situation
JMB, Sheffield
Get A Free Quote

If you would like to receive a bespoke quotation for your transaction, please call us on 01629 582308 or you can enter the information online.

Whether you are based in Matlock, Wirksworth or anywhere across England and Wales we will be able to help. We have over 100-year history of helping the people of Derbyshire and the surrounding areas.


Buying your first home

Buying your first home is an exciting time. Before you decide where you are planning to put the furniture you have managed to collect together you may want to consider a few things.

Before looking at buying your first home you will need to make sure that you have a deposit saved. Generally, this is between 5% to 20% of the value of the property.

It is not only the cost of the property you will need to consider on top of this you will have to pay other costs. Look at our charges page for more details or contact us for a bespoke quote.

On top of this, you will have to consider

  • removal fees
  • survey costs
  • buildings insurance
  • furnishings and decorations
  • mortgage arrangement
  • valuation fees
  • stamp duty

This is not an exhaustive list of things to consider.

There are some government-backed schemes available to first time buys so it might be wise to look at these to see if any can help you.

Once you have had your offer accepted contact us to find out what you need to do next. We can help you through the process.

We are always ready to help and can give you the advice you need to make sure that your transaction runs as smoothly as possible.

1. Searches

We will need to apply for searches against the property to satisfy you and your lender if you have one and that all is in order. The searches can help to reveal any planning issues affecting the property, such as road improvements and details of any planning permissions affecting the property. We may also carry out flooding, mining and contaminated land searches if necessary. We will let you know if the searches reveal any matters of concern.

2. Contract

The seller’s solicitor will send us a draft contract, which we will check and amend as necessary. They should also send us a fittings and contents form and a property information form containing various details about the property.

We will carefully inspect the title of the property. The title will take the form of copies of the title deeds if the property is unregistered, or copies of the Land Registry entries if the property is registered. Over 90% of properties in England and Wales are now registered at the Land Registry, however, in the Matlock area, we do see a lot of unregistered properties. We look out for anything which could affect you at the property, for example, any easements (rights of way) or restrictive covenants. If the property is leasehold, then we will inspect the lease and any arrangements for maintenance of services at the property. We will report anything of concern to you.

We will then raise any enquiries that we have regarding the results of our searches and the contents of the forms.

3. Mortgages

If you are having a mortgage, we will inspect the terms of the mortgage offer and the mortgage deed and explain them to you. For more details click here.

4. Exchange of Contracts

Once we are happy with the results of our searches and the enquiries of the seller’s solicitor, we will ask you to visit our offices to sign the contract. We will report to you on any findings at this stage. If you are still happy to go ahead with the purchase, then you will be asked to pay a deposit which is usually 10% of the purchase price. We will then exchange contracts with the seller’s solicitor. If you wish to withdraw after contracts are exchanged, you may have to pay the financial penalties and could lose your entire deposit. On exchange of contracts, we will set the date for completion which is the day when keys are handed over and the balance of the purchase price is to be paid.

5. Between Exchange and Completion

On the completion date, we will need to have received cleared funds for the final balance from you, together with funds to pay for our fees and any disbursements and Stamp Duty Land Tax. You will be provided with this figure on a completion statement before exchange of contracts. At this stage, we will also request any mortgage monies from your lender.

6. Completion

On the completion date, we will send the completion monies to the seller’s solicitor. Once they have received the money the keys will be released to you. We will then arrange for any Stamp Duty Land Tax to be paid and will register you as the new proprietor with the Land Registry.

Please note that this is for guidance only and cannot be relied upon as either legal advice or what will happen with your transaction. Each transaction varies, and each property is different. If you require any further information, please do not hesitate to contact us.

How Much Will It Cost?

If you would like to receive a bespoke quotation for your transaction, please call us on 01629 582308 or you can enter the information online and we will call you back.

Alternatively, you can click here to find more details of the likely costs.


Free Guide

If you don’t know your leasehold from your freehold, then get our Free Conveyancing Guide. It contains details about the steps you will need to take with any property transactions. The Guide giving you detailed guidance on what your lawyer will be doing for you and what to look out for.


About Lovedays

Lovedays Solicitors, Potter and Co Solicitors and Andrew Macbeth Cash and Co Solicitors are the trading names of Derbyshire Legal Services Limited (Company Registration Number 08838592) whose registered office is at Lovedays Solicitors, Crown Chambers, 6 Bank Road, Matlock, Derbyshire, DE4 3AQ.

The Directors of Derbyshire Legal Services Limited are C.D.Gale and R.LL.Roberts. Our Notary Public, M.C. Handforth is regulated by the Faculty Office of the Archbishop of Canterbury. The Company is otherwise authorised and regulated by the Solicitors Regulation Authority whose rules can be accessed at www.sra.org.uk

Contact
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  • Crown Chambers
    6 Bank Road
    Matlock
    Derbyshire
    DE4 3AQ

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