First time buyers

Gaining a clear understanding of both your priorities and the property buying process, as you embark on your first home journey.

FAQs

How do I qualify as a first time buyer?

To qualify as a ‘first time buyer’, everyone buying the property must meet the following criteria:

You must not have previously been a purchaser in a land transaction
You must not own (or have owned in the past) any interest in property anywhere in the world (including having an interest in a trust or inherited a property).
You intend to occupy the property as your main residence.

What do I need to consider as a first time buyer?

If you are buying a property, you need to make sure you have your finances in place first.
Once your mortgage and funding arrangements are in place, you will need to consider all of the finances for the transaction. These will include:

all legal fees and other costs
stamp duty costs (if relevant, please see below)
The ‘balance’ needed to complete the purchase in addition to your mortgage

Do I need to do a survey of the property?

Arranging a survey of the property early on will ensure you know what you are buying and identify any structural or physical issues before you are committed to the purchase. You will be purchasing the property as it is, so it is important to enlist help from suitable experts so that you know what you are buying.

Tenants in Common vs Joint Tenants – what is the difference?

If you are buying a property jointly with someone, you will need to consider whether you will buy the property as “Tenants in Common” or “Joint Tenants”.
We can help provide guidance to you as you make your choice, including whether you need a Declaration of Trust.

	Tenants in Common	Joint Tenants
How is the property owned?	Owners can own equal or varying proportionate interests in the property.	Have equal rights to the property.
When can we buy the property?	You can purchase the property at the same time or one could purchase from a previous owner at another time.	You have to buy the property at the same time.
What happens if an owner passes away?	If one owner passes away their portion of the property would be inherited in accordance with their will or the intestacy rules and not default to the other owner(s). The other owner would still own their portion if the property, which could result in difficult circumstances.	If a joint tenant passes away, the other tenant(s) would automatically inherit the whole of the property. Even if the deceases made a Will, the property will not form part of the Will.
Can I sell my share of the property?	If one owner wanted to sell their interest in the property they could do so whilst the other owner retains their share.	If one tenant decides to sell their share, this may necessitate becoming tenants in common.
Who usually goes or this option?	Friends, relatives or blended families.	Couples.

Does a first time buyer have to pay stamp duty?

Individuals that qualify as ‘First Time Buyers’ will not pay Stamp Duty on the purchase of a property up to £425,000 in price at current rates.

For First Time Buyers purchasing a property up to £625,000 in price, a rate of 0% will be applied to the first £425,000 of the purchase price and a rate of 5% will apply to the remainder.

What is conveyancing?

Conveyancing is the term for the legal process of transferring one person’s property (the seller) to another (the buyer).

Your conveyancer will handle all the legal aspects of your transaction. We will provide updates along the way for you.

We will handle:

coordinating the contracts
checking the title for any defects that could cause you an issue, such as easements, restrictive covenants, or adverse entries such as third party charges (other than seller’s mortgage)
carrying out searches and diligence on the property
dealing with the Land Registry
transferring the funds to pay for your property

A conveyancing specialist will address issues before you buy the property to ensure there are no nasty surprises once your purchase has completed, leaving you free to enjoy your new home.

Good advice during the purchase process will in turn help to prepare for a smooth sale if you want to sell the property in the future.

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What our clients say

Clients tell us how we deliver peace of mind.

Excellent service - everything was explained every step of the way of the sale/purchase.

Client of Vicky Lee

Following my initial enquiry with the Newbury office I quickly knew what I needed, the cost, and what was required from me. I was kept informed of all progress and am very happy with the service I received.

Client of Vicky Lee

Vicky was great in dealing with the purchase of our first property. We were kept up to date and had any questions answered very quickly. Vicky was very prompt and dealt with our case very professionally. Gardner and Leader came recommended to us by a friend and I would happily recommend them myself.

Client of Vicky Lee

As a first-time buyer with no experience, I had bought into the idea that the process was going to be painful. However, our experience with Gardner Leader could not have been more different and we experienced none of the anticipated difficulties. Vicky explained the process very clearly.

Client of Vicky Lee

Gardner Leader were the perfect partner in helping to execute the sale of our cottage. Exceptional care and service!

Client of Stuart Durrant

Sheyi has been very supportive, positive and efficient throughout the three year saga of selling the cottage and I would thoroughly recommend her to anyone buying or selling a house!

Client of Sheyi Lawale

Having previously used Gardner Leader I was very happy to use them again. First class service, efficient, friendly and highly recommended.

Client of Michelle Challis

Gardner Leader’s friendly staff supported the purchase of my property with professionalism and efficiency. I was kept in the loop at all times and the communication was second to none. Thank you.

Client of Michelle Challis

Lauren was great at keeping me up to date with what was going on. When there were delays she followed up and kept me in the loop. She was professional and honest and made me understand the process fully.

Client of Lauren Blackman

Lauren and her team were excellent from start to finish making to whole process as a first-time buyer completely stress free! The communication was amazing and Lauren provided instant answers to our many questions. I will be recommending Lauren to anyone looking to buy their first home or move house

Client of Lauren Blackman

Hana was incredible. She answered emails so quickly and always explained things clearly. I would highly recommend Hana and would 100% use Gardner Leader again.

Client of Hana Krilovska

I found Gardner Leader to be the best solicitors I have ever used for conveyancing. Their communication was great, and their actions were timely.

Client of Emma Jones

Emma is an absolute credit to Gardner Leader and I could not be more pleased with the service she provided. I would not hesitate to use Gardner Leader's services in the future and would recommend others to do the same.

Client of Emma Jones

Thanks very much for your assistance with our purchase. I am impressed with both your services and I will recommend and use in the future. You were attentive, communicative, and most of all very human and empathetic in what is a big process for a first time buyer.

Client of Emma Jones

Just book them. Gardner Leader was extremely professional, communicative, polite and responsive. They are a credit to the profession and our massive thank you for the assistance for our new build purchase.

Client of Emma Jones

Very strong service, clear communication and good explanation. Being my first home purchase and from another country I probably needed more explaining than most, but Emma was really patient and took time to explain. Much appreciated!

Client of Emma Jones

I just wanted to say a massive thank you for your tremendous help on this transaction. You’ve been incredibly helpful and professional throughout. And, of course, you’ve saved us a significant amount of money by getting us over the finishing line before the month end deadline on stamp duty for fir

Client of Sheyi Lawale

I would like to thank you all for the amazing service, patience and help throughout our acquisition of our home. Every step of the way you have all been so helpful and prompt, giving us both a lot of confidence that we were in safe hands.

Client of Cate Beavis

We had wonderful service from all involved with our property sale at Gardner Leader. The whole process was managed very efficiently from first enquiries to completion.

Client of Cate Beavis