These days, a significant proportion of first time buyers are helped out buy parents. Many parents now have a significant amount of equity tied up in their property and are willing to help out.
These days buying a property on your own is less common. Property prices can be quite daunting and difficult for first time buyers. Many people are now teaming up with friends and family to buy their first home.
When you have bought your home, you will want to protect yourself by insuring the building against damage, including that caused by subsidence. In any case, the mortgage lender will insist on it.
Stamp Duty Land Tax is payable by property purchasers in different amounts via the conveyancing solicitor, depending on the purchase price of the house.
If this is your first new home you've bought then the process can seem daunting. But buying your first home is an exciting experience. There's lots to think about, so that's why our first time buyer section gives information on the options available and the steps involved in the journey to owning your new home.
