v THE HERALD - Your Community Magazine v 26th January 2023 • The HERALD • Page 59 ASK A PROFESSIONAL 023 8254 7600 TMT House • 12 The Marsh • Hythe • SO45 6AL enquiry@tmtlegalservices.co.uk www.tmtlegalservices.co.uk Your Local Legal Specialists PROPERTY & CONVEYANCING We specialise in Conveyancing Services from buying your first home to investment buy to lets Call theTeam on 023 8254 7600 or visit our website for our online quotation tool where you can also instruct us Who is eligible? • You can buy a home in England using the First Homes Scheme if: • Your household income is £80,000 a year or less (or £90,000 a year or less in London) • You are a rst time buyer • You are purchasing a new build property What is the process of buying a property using the First Homes Scheme? • Find an approved property – only some properties will be eligible for First Homes Scheme so make sure you check this with the developer. • Authority to Proceed – Contact the local authority to apply for the scheme. ey will then issue an Authority to Proceed to you and to TMT. • Apply for your mortgage – You can either apply to these lenders directly or use a mortgage broker to apply for a First Homes Scheme Mortgage o er. • Instruct TMT – It is important to choose an experienced conveyancer to assist you with purchasing a property using the First Homes Scheme. You can obtain a no obligation estimate. • Reporting to you – TMT report to you in respect of the First Homes Scheme and arrange for you to sign the relevant First Time Buyers Declaration. • Lender consent –TMT need to write to your lender to advise them you are purchasing a property under the First Homes Scheme and obtain their consent. • Authority to Exchange - TMT will need to apply for ‘Authority to Exchange’ before the contracts can be exchanged. e local authority needs 5 days’ notice. e mortgage o er, valuation report and First Time Buyers Declaration are needed before this can be applied for. • Exchange contracts – At this stage you will be legally bound to purchase the property. You will have to pay a deposit to TMT . • Completion – the developer will usually give you 10 days’ notice to be ready to collect your keys. We need to give at least 5 days notice to the local authority and your lender. Why choose TMT? We pride ourselves on providing a personal service that is e cient and customer focussed. We have a modern approach to how we deliver our services and fully utilise technology, while maintaining our friendly and approachable ethos. Use our online estimate portal to obtain a no obligation conveyancing estimate at: https:// t m t l e g a l s e r v i c e s . wp.perfectportal.co.uk/ If you are considering buying a property using the First Homes Scheme or for advice on any conveyancing matter, contact our New Homes team on 023 8254 7600, visit our website: www. tmtlegalservices.co.uk or call in to our o ce in Hythe. First Homes Scheme TMT Partner, Laura Thurman-Greenslade writes a step-by-step guide to the First Homes Scheme. Laura Thurman-Greenslade, Partner – TMT Legal Services
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