There is a particular feeling that comes with buying your first home — somewhere between thrilled, terrified and genuinely confused about what a TR1 form actually is.
If that sounds familiar, don’t worry — you are far from alone. There is a reason people often describe moving home as one of life’s most stressful experiences.
Buying a home is one of the biggest legal and financial transactions most people will ever go through. The process has plenty of moving parts, but it does not need to feel overwhelming.
With the right preparation and the right team beside you, it can be surprisingly smooth.
Here is our property team’s checklist to help you tick off the legal essentials before you collect those shiny new keys.
Having a mortgage in principle, your deposit ready and a clear understanding of your monthly budget can save a huge amount of time and heartache. It also means estate agents are more likely to take your offer seriously when the time comes.
If you have been saving into a Help to Buy ISA or Lifetime ISA, remember to factor those bonuses into your figures. They are paid to your solicitor and added to your deposit on completion, so they need to be accounted for from the outset.
If any part of the purchase is being funded by the “Bank of Mum and Dad”, you will also need to provide evidence of where those funds are coming from.
The earlier you have a solicitor lined up, the smoother the process tends to be. The moment your offer is accepted, the clock starts ticking.
Having Hethertons in place from the outset means we can request the contract pack from the seller’s solicitor immediately, rather than losing valuable time later on.
When choosing a firm, look for the Law Society’s Conveyancing Quality Scheme (CQS) accreditation.
Hethertons was the first firm in York, and one of the first in the UK, to achieve CQS accreditation back in 2011. It remains a recognised mark of expertise in residential property work.
Conveyancing is the legal process of transferring ownership of a property from the seller to you.
It involves reviewing the contract, raising enquiries with the seller’s solicitor, carrying out searches, dealing with your mortgage lender, exchanging contracts and finally completing the purchase.
You will not need to handle any of this yourself, but you will be asked to sign documents and provide information throughout the process.
Understanding the broad shape of the transaction makes everything feel a lot less mysterious.
Local authority, water and drainage, environmental and chancel repair searches are among the most common searches carried out on a property and are often required by mortgage lenders.
They reveal issues you would not spot during a viewing, such as planned road schemes, flood risk, contaminated land, mining history or rights of way affecting the property.
Yorkshire has plenty of beautiful older properties with quirky histories, so it is also worth checking whether the property is listed or located within a conservation area.
Searches help ensure that these quirks do not become expensive surprises further down the line.
A mortgage valuation is not the same as a survey. It only tells your lender whether the property is worth approximately what they are lending.
Whilst a full survey is not a legal requirement, it is strongly recommended. A RICS HomeBuyer Report or full Building Survey assesses the actual condition of the property and gives you a clearer picture of what you are buying.
If the survey highlights any issues, it may give you and your solicitor the opportunity to renegotiate the price or ask the seller to carry out works before completion.
First-time buyers can often benefit from reduced Stamp Duty Land Tax, but thresholds and reliefs change over time. The definition of a “first-time buyer” is also more specific than many people realise, particularly where joint purchases are concerned.
New-build properties bring their own set of considerations. Reservation fees, developer deadlines, estate rent charges and NHBC or other new-build warranties all require careful review.
It is also important to understand any planning conditions or future development plans for the site, to ensure your enjoyment of your new home is not affected later on.
Working with an experienced conveyancing team ensures that the “small print” is reviewed carefully, so you know exactly what you are committing to.
After all the stress of buying a new home, exchange of contracts is the point at which the transaction becomes legally binding.
Although you will usually try to agree dates in advance, exchange can happen quickly, so it is important to be prepared.
Completion is the day you collect the keys. Before then, make sure your deposit is in the correct account, your buildings insurance is in place from exchange (not completion) and your removals are booked.
Once you are in your new home, there are a few sensible things worth tidying up. Updating your Will and considering a Lasting Power of Attorney are two of the most commonly overlooked issues, particularly for younger first-time buyers.
However, both are important steps in protecting your partner or spouse should the worst happen.
If you are buying with a partner, it is also important to consider whether you should own the property as joint tenants or tenants in common — something that matters more than many people realise. Our wider team can help with all of that.
Hethertons has a long history of helping people across York, Boroughbridge and North Yorkshire move into their first, second or forever homes.
We know the local market well and have strong relationships with key contacts across the region. Our team understands the conveyancing process inside out and can help you navigate any challenges along the way.
Our conveyancing team will guide you through every stage of the process in a friendly, practical and thorough way, helping you move into your first property with minimal stress or delay.
Call our York office on 01904 528200 or our Boroughbridge office on 01423 322940, or contact us to find out more about our conveyancing services.
