March 27, 2016
A new Government Scheme is due to be launched this month offering to help first-time buyers to save a deposit for their first home. The Scheme involves opening a savings account which will include a Government top-up, based on the amount saved by first-time buyers.
Some of the banks and building societies participating in the Government's Help to Buy ISA Scheme have been named as Barclays, Lloyds Banking Group, Nationwide, NatWest, Santander and Virgin Money.
First-time buyers purchasing an owner-occupied home worth up to £250,000, or £450,000 in London, will be eligible for a Help to Buy ISA when it launches on 1 December 2015.
The monthly maximum contribution from savers into a Help to Buy ISA will be £200, following an initial deposit of up to £1,000, with the Government adding £50 a month at the most.
First-time buyers will have four years to open the account once it launches. The accounts will run indefinitely once opened. But if someone accumulates £12,000 over that time, a maximum of £3,000 will be added by the taxpayer.
The Scheme should run alongside building more homes, which is also good news for property developers.
If you are a first-time buyer looking to buy a home and would like to know how the Scheme could benefit you please contact us on 0116 289 7000.
We have collected a list of the most frequently asked questions. See if your query has been answered before.
We don’t just provide conveyancing services in the East Midlands, we work nationally too.
BHW Residential are specialists in New Build conveyancing, dedicated to you.
HM Land Registry is Going Digital
The Government has approved changes to the Land Registration Rules 2003 that will enable the HM Land Registry to continue its digital transformation.
Top Residential Property Solicitor Joins Leading Conveyancing Law Firm
BHW Solicitors has further boosted its conveyancing team with the appointment of a highly respected specialist residential property solicitor.
Compare the Conveyancer
As part of the Land Registry's customer care policy, the Registry has announced a new proposal to publish data which would reveal how well (and how badly) a conveyancer is performing in completing their Land Registry applications.
BHW Residential Now Offering No Move No Fee Guarantee
BHW Residential are pleased to announce the launch of a new No Move No Fee Guarantee. Unfortunately, there is a risk with every conveyancing transaction that it will not proceed, often through no fault of your own.
How to avoid 'Friday afternoon fraud'
We are all familiar with the threat of cybercrime. Unsurprisingly, the legal industry is a favourite target of fraudsters and criminals. Large sums of money are often transferred between clients, law firms, and banks or other lenders. Scammers prey on the trust between solicitors and their clients.