With increasing numbers of transactions being reported over the last three months, it is hoped that this new announcement will mean that the market remains buoyant and active for the foreseeable future.
The Chancellor said: "Our goal is very simple. We want to help people who aspire to buy their own home, who can afford to do so but for whom the mortgage market is not working."
At Emsleys, we have found that what is not always made so clear, is that there is a significant amount of additional paperwork that has to be processed when the Help to Buy scheme is used. This can cause delays and hold-ups, especially when mortgage offers are received relatively late on in the transaction.
Fortunately, with our experience of acting for buyers of new build homes, we have become very familiar with the Help to Buy scheme and the various steps and procedures that need to be taken, in addition to the usual range of work carried out on a property purchase.
Eddie Goldsmith, Chairman of the Conveyancing Association has warned buyers of the risks: lack of expertise in this new area can lead to delays which could mean the buyer loses their purchase, so our advice to new buyers is to choose your conveyancer carefully and don't settle for anything less than an expert.
So, if you're looking for help and advice about the Help to Buy scheme, call our Conveyancing team on 0113 264 4414.