MG Legal Solicitors 
Longridge: 01772 783314 Garstang: 01995 602129 Lancaster: 01524 581306 Lytham: 01253 202452  
A row of new build detached houses, with a green and path in front of them; our Conveyancing Solicitors in Lancaster discuss the Help to Buy Equity Scheme for homebuyers, and how we can help with any purchase.
In recent years, the quest for homeownership has become increasingly challenging, particularly for first-time buyers joining the property market with the need for fast-paced offers. The Help to Buy Equity Loan scheme emerges as a beacon of hope for those struggling with hefty down payments and stringent lending criteria. This Government initiative is designed to make the dream of homeownership more attainable for a broader demographic. In this blog, our Conveyancing Solicitors in Lancaster explore the intricacies of the Help to Buy Equity Scheme and how conveyancing solicitors can facilitate your journey to becoming a homeowner. 

Fixed-fee Conveyancing Solicitors

MG Legal's leading Conveyancing Solicitors in Lancaster offer all of our Conveyancing services on a clear, fixed-fee rate.  
 
Our team put your first, and work with care to ensure that your wishes are met. Call us today on a free, no-obligation basis at: 01524 581 306 
Get in touch today to speak to our Conveyancing Solicitors in Lancaster. 

What is the Help to Buy Equity Scheme? 

The Help to Buy Equity Scheme is a government-backed initiative aimed at helping first-time buyers or existing homeowners purchase a new-build home with as little as a 5% deposit. Here’s how it works: the government lends you up to 20% of the cost of your newly built home (up to 40% in London), so you will only need a 75% mortgage (55% in London) and a 5% deposit. This loan is interest-free for the first five years, providing significant relief during the initial stages of homeownership. 

Eligibility and Conditions 

To qualify for the scheme, buyers must meet specific criteria, including: 
Being a first-time buyer or an existing homeowner looking to move. 
Purchasing a new-build property with a price tag up to the set regional price caps. 
Intending to occupy the purchased property as their primary residence. 

Why choose MG Legal Solicitors? 

No hidden fees.

Transparent fees. 

Our solicitors offer their services on a clear fixed-fee or hourly rate, and accept personal injury claims on a no win no fee basis. 
We are the experts

We are the experts. 

Here at MG Legal, our team of friendly solicitors are fully-qualified and have over thirty years' experience in helping clients just like you. 
Regular Communication

Regular communication. 

When you work with MG Legal, your solicitor will be in regular contact so you have step-by-step updates. 
Multiple Office locations.

Multiple office locations. 

If you are looking to instruct our solicitors, we have offices in Garstang, Longridge, Lancaster, and Lytham for your convenience. 

How Conveyancing Solicitors Can Help 

Conveyancing solicitors play a pivotal role in the home-buying process, particularly when you are attempting to understand the details of the Help to Buy Equity Scheme. Here’s how they can assist: 

Legal Guidance: 

Solicitors provide expert legal advice on the terms of the Help to Buy agreement, ensuring you understand your obligations, rights, and the implications of the equity loan. 

Handling Paperwork: 

The purchase process involves extensive paperwork, from the initial Help to Buy application to the final mortgage and transfer documents. A conveyancing solicitor ensures that all paperwork is accurately completed and submitted on time. 

Liaising with Parties: 

Your solicitor will communicate with various parties involved in the transaction, including the Help to Buy agent, the property developer, and the mortgage lender, ensuring a smooth and coordinated process. 

Searches and Checks: 

Solicitors conduct necessary property searches and checks to uncover any issues that could affect your ownership or the property’s value, providing peace of mind before finalising the purchase. 

Managing Funds: 

They oversee the financial aspects, including the payment of your deposit, the application and receipt of the equity loan, and the finalisation of your mortgage arrangements. 

Completion and Post-completion: 

Finally, solicitors handle the completion process, ensuring that all financial transactions are settled correctly. They also take care of post-completion formalities, such as registering your ownership with the Land Registry and dealing with the repayment of the equity loan in the future. 

Contact MG Legal’s Conveyancing Solicitors 

The Help to Buy Equity Scheme offers a valuable opportunity for individuals striving to join or climb the property ladder. However, the process is laden with legal intricacies and administrative procedures. Engaging a knowledgeable conveyancing solicitor can alleviate the stress and complexity, allowing you to focus on the excitement of your new home. Their expertise ensures that every aspect of the purchase is handled with precision, from initial application to final completion, making your home-buying journey as smooth and successful as possible. 
 
Contact our Conveyancing Solicitors in Lancaster on 01524 581 306 or email property@mglegal.co.uk to speak with our CQS-accredited, SRA-regulated expert team. You can read our 5 star reviews, here, and see why clients choose our Conveyancing Solicitors to represent them in their property purchase. 

Why choose MG Legal, Conveyancing Solicitors in Lancaster? 

Clear, fixed-fees 

Fully-Qualified Conveyancing Solicitors 

Tailored Service 

Multiple Office Locations 

Decades of Experience 

Home Visits 

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