Cheap conveyancing quote can be tempting, especially when there is so much else to pay for. However, they are not always value for money. First time buyers are particularly vulnerable to using cheap and ineffective conveyancers because they need to pay out so much when they purchase a property.
For first time buyers, completing the purchase of their new house can be a dream come true, but it’s not just conveyancing solicitors that cost money; there is also the cost of hiring a removals firm and getting together a deposit – usually around 10 percent of the purchase price – to pay on exchange of contracts.
The good news is that there are schemes in place for first time buyers that will help them with this aspect of buying their first home. For many first time buyers, obtaining the mortgage itself is not the problem when it comes to the reason that so many of them are unable to buy their own houses. It is often the deposit that is needed.
In the past, banks were happy to offer mortgages at 100% of the purchase price of the property, which meant that no deposit was needed. This enabled millions of people to buy properties. Unfortunately, these mortgages are now very rare. The government’s Help to Buy scheme allows first time buyers to use a five percent deposit rather than the standard 10 percent one. This is a huge saving and means they can climb onto the property ladder much more quickly. So these people be can confident they can afford to buy when obtaining conveyancing quotes.
Remember, that extremely cheap conveyancing quote may not be the best, but if you want to save money on your conveyancing and are looking for a trusted supplier of this service, then visit Conveyancing Index at https://www.conveyancingindex.co.uk.
Our comparison tool has saved many buyers hundreds of pounds in conveyancing fees, call us on 0203 874 2020 for a discussion.