A first-time buyer is generally someone who has never previously owned a residential property. However, the definition can vary depending on the particular tax relief or home ownership scheme being considered. Previous ownership of property may affect eligibility, including ownership of property outside the UK. Your solicitor can advise you based on your individual circumstances.

You will need a legal professional, such as a solicitor or licensed conveyancer, to deal with the legal work involved in purchasing your property. Your solicitor can review the title, arrange searches, raise enquiries, review the contract, deal with your lender and manage the legal process through to completion.

It is advisable to instruct your solicitor as early as possible, ideally once you begin seriously looking to purchase or as soon as your offer has been accepted. Early instruction can allow the legal process to begin promptly and help identify potential issues.

Once your offer has been accepted, the property is generally considered to be “sold subject to contract”. Your solicitor can then begin the legal process, including reviewing the contract, title and searches and raising enquiries with the seller’s solicitor. An accepted offer is generally not legally binding until contracts have been exchanged.

The searches required will depend on the property and its location. Common searches can include:

• Local authority searches

• Water and drainage searches

• Environmental searches

  Additional searches may be appropriate depending on the location and circumstances of the property.

A survey can provide information about the physical condition of the property and may identify defects or issues that are not apparent from the legal documentation. A survey is different from a mortgage valuation. You should consider obtaining appropriate independent advice about the property’s condition before committing to the purchase.

The deposit required will depend on your mortgage arrangements and the terms agreed with your lender. Your solicitor will also need to establish the source of the funds being used for the purchase and comply with applicable legal and regulatory requirements.

Not necessarily. Some first-time buyers may qualify for Stamp Duty Land Tax relief, depending on the purchase price and their individual circumstances. The applicable rates, thresholds and eligibility requirements can change, so you should obtain up-to-date advice before relying on any relief.

The eligibility requirements need to be considered for all purchasers. Where two or more people are buying together, previous property ownership and other circumstances may affect eligibility for any available first-time buyer relief. Your solicitor can advise you based on your individual circumstances.

Previous ownership of residential property outside the UK can affect whether you qualify for certain first-time buyer benefits. If you have previously owned property abroad, you should inform your solicitor so your eligibility can be properly considered.

Yes. You can purchase a property jointly with another person. Your solicitor can explain the different ways in which property can be jointly owned and advise you on the legal implications of the arrangement.

Yes. MYM Solicitors can assist with the legal aspects of a leasehold purchase. This can include reviewing the lease and relevant leasehold documentation and advising on matters such as service charges, ground rent, restrictions and the remaining term of the lease where applicable.

Yes. First-time buyers can purchase new-build properties. However, new-build purchases may involve additional legal considerations, including developer contracts, completion arrangements, warranties, estate management charges, lease terms and potential snagging issues. Your solicitor can review the relevant documentation and advise you on the legal aspects of the purchase.

There are various home ownership schemes that may be available to eligible buyers. Eligibility can depend on factors such as your income, the property, your circumstances and the specific scheme. MYM Solicitors can advise you on the legal aspects of an applicable scheme where appropriate.

Yes. Where applicable, MYM Solicitors can assist with the legal aspects of purchasing a property through a relevant first-time buyer or affordable home ownership scheme. The specific requirements should be reviewed before proceeding.

Exchange of contracts is an important stage in the purchase process. Once contracts are exchanged, the transaction becomes legally binding and the agreed completion date is normally confirmed. You should not exchange contracts until you are satisfied with the legal position and your solicitor has advised you that you are ready to proceed.

On completion, your solicitor transfers the remaining purchase funds to the seller’s solicitor. Once completion takes place, ownership passes to you and you can normally collect the keys and move into your new home. Your solicitor will then deal with the relevant post-completion legal requirements, including registration of your ownership where applicable.

There is no fixed timeframe for every purchase. The process can depend on factors including the property, mortgage arrangements, searches, enquiries, whether there is a chain and how quickly the relevant parties provide the required information.

In addition to your deposit and purchase price, you may need to budget for:

• Solicitors’ or conveyancing fees

• Property searches

• Survey costs

• Mortgage-related costs

• Insurance

• Moving costs

• Property taxes where applicable

• Service charges and ground rent for certain leasehold properties

  The costs will vary depending on your circumstances and the property you are purchasing.

Yes. Our property team can assist first-time buyers throughout the legal process, including title checks, searches, enquiries, contract review, mortgage requirements, exchange and completion. We can explain each stage of the transaction and provide legal advice tailored to your circumstances.