There have been record number of house purchases recently and many of these have been first time home buyers, according to statistics from estate agent group Hamptons of Countrywide.
Almost a third of buyers have been making this life-changing acquisition for the first time and many of these will have sought the advice of solicitors specialising in conveyancing. In some major cities though, this figure is even higher and is nearly half of all buyers.
When comparing the figures to fifteen years ago, first time buyers have doubled in recent times. There are many reasons for this such as the reduction in numbers of people moving out of their immediate area and choosing instead to but locally, largely due to the increased costs of relocating. It has also been noted that changes to stamp duty regulations have not deterred buyers from making more expensive purchases, despite this being a trigger for paying this tax.
Solicitors in Porthmadog can discuss with potential first-time buyers a range of government initiatives such as First Homes and Help to Buy. They may also be able to advise customers to forewarn them that conveyancing is currently taking many months to complete due to the increases in demand in the housing market. These legal experts can keep lines of communication open and ensure that all is going smoothly.
Talk to us now at Bennett Smith Solicitors to make an appointment with one of our specialist house conveyancing advisors.
