Acting for First Time Buyers - Live at Your Desk for Conveyancers - Learn Live

Introduction

In 2022, first-time buyers accounted for 53% of mortgaged purchases, according to figures from Yorkshire Building Society.

Several challenges can arise when you act for first time buyers, especially because they tend to have little or no experience of the house-moving process.

This virtual classroom seminar is designed primarily for residential conveyancers and will focus on common issues that can arise, or which might need to be considered, when the client is a first-time buyer.

What You Will Learn

This live and interactive session will cover the following:

• Alternatives to the Help to Buy scheme
• Circumstances in which might a client be ineligible for SDLT relief for buyers, and the risk of fraud in claiming the relief
• Matters that should be addressed when advising parties in connection with a sole proprietor, joint mortgagor mortgage
• Making clients aware of the risks involved in buying new-build properties
• Explaining the key differences between freehold and leasehold ownership, especially in relation to ground rents and service charges
• Risks that joint purchasers, buying for the first time, might not realise, e.g., disputes over resale
• Issues which sole purchasers, who plan to live together with another adult, might not have considered, e.g. constructive trusts
• Possible contents of a bespoke trust declaration
• Instructions to be sought from buyers relying on cash contributions from family members
• Key elements and risks of the shared ownership scheme