Convey Choice, a leading provider of expert conveyancing services and part of CLS group, recognises the need to support and help first-time buyers to successfully get on to the property ladder.
With no Stamp Duty Land Tax (SDLT) on properties worth up to £300,000 for first-time buyers, combined with a wider variety of mortgages which require smaller deposits and low interest rates, there are now several attractive incentives available for first-time buyers.
The latest government plan to hit the market and currently during its consultation phase, is the First Homes scheme which is designed to ensure that more homes are available with a minimum 30 per cent discount off market price to help first-time buyers, key workers and military veterans to get on the housing ladder within their local area.
The scheme encourages local development and the delivery of long-term benefits for local communities by proposing that the discount is retained on the property in perpetuity to continue helping future first-time buyers.
But should the support stop there? Renu Kiran, Managing Director at Convey Choice comments on the call for change across the housing market and how the conveyancing services provider has made it their mission to transform the current antiquated conveyancing process for the better.
“The proposed First Homes scheme is a reminder of the up-hill struggle first-time buyers can experience when trying to get on the housing ladder and highlights that affordability is fundamentally the biggest barrier to home ownership. Although the changes to the market are a move in the right direction and the First Homes scheme is a welcomed incentive, there is also a real need for additional visibility, support and help educating the consumer throughout the process of buying a home once an offer has been accepted.
“At Convey Choice, our ethos is to drive forward the property market, embrace challenges and break the mould. In the past few months alone, we have not only partnered with Yourkeys to contribute to the role of fully digitising the property transaction to reduce the time to exchange of contracts from an industry average of 63 days to just 7 days, we have also created a one of a kind first-time buyer all-inclusive value package to further support new homebuyers. A significant time and cost saving for both conveyancers and first-time buyers which marks a turning point in terms of revolutionising the conveyancing process and complimenting the government incentives to further help first-time buyers to successfully complete on a property.
“At just £999 for properties under £300,000 (where the stamp duty is nil), our new first-time buyer all-inclusive value package fills a much-needed gap in the market. The new conveyancing package provides first-time buyers with a range of services to not only help them with their first home but also to educate the consumer through the whole process to ensure they don’t get caught out. Simply put, we’re providing a solution that gives first-time buyers access to key property experts from Estate Agents to Mortgage Advisors and Solicitors to give our next generation of homeowners the help and guidance to nurture them through this key milestone in their lives.
“This is a huge leap forward for our business, it calls on the strengths of our key partners to collectively work together to deliver a highly attractive offering to this growing market. Our vision is to be a key provider of choice for first-time buyers and we hope that our dedicated service and ongoing commitment to partner with forward-thinking industry leaders to really make a difference to the process will speak for itself.”
The government is committed to ‘making the dream of home ownership a reality for everyone’ and a consultation phase for the proposed First Homes scheme will last for 8 weeks from Friday 7th February until Friday 3rd April 2020. Have your say.