Conveyancing for first-time buyers

What will conveyancing cost a first-time buyer?

• Our legal fee, which is fixed and set by the price of the property.
• Search fees, which vary by council.
• The HM Land Registry fee to register you as the owner.
• Any Stamp Duty Land Tax (in England) or Land Transaction Tax (in Wales).
• Extras where they apply, such as a leasehold supplement or fees for an ISA or gifted deposit.

Our fees calculator gives you an itemised quote in about a minute, including an estimate of Stamp Duty. You will also need a survey, which you arrange separately with a surveyor.

Stamp Duty relief for first-time buyers

In England, first-time buyers pay no Stamp Duty Land Tax on the first £300,000 of the price, and 5% on the portion from £300,001 to £500,000. If the price is more than £500,000, the relief does not apply and the standard rates are used instead.

To qualify, everyone buying must be a first-time buyer who has never owned a home anywhere in the world, and you must intend to live in the property as your main home. Wales has its own tax, Land Transaction Tax, which has no separate first-time buyer relief. Tax rules change, so we confirm the position for your purchase.

Using a Lifetime ISA or Help to Buy ISA

Lifetime ISA

The government bonus can go towards your first home if it costs £450,000 or less. Your solicitor must request the money from your ISA provider, which can take a few weeks, so tell us early.

Help to Buy ISA

Closed to new savers, but existing accounts can still be used. Your solicitor applies for the government bonus as part of the purchase, and there is a price limit.

Gifted deposits from family

Many first-time buyers get help with the deposit from family. Your lender needs to know, and we must check where the money comes from. The person giving the money will usually need to:

• Confirm in writing that it is a gift, not a loan, and that they will have no share in the property.
• Provide ID and evidence of where the money came from, such as bank statements.
• Sometimes sign a form agreeing that the lender’s mortgage comes first.

The main steps, and what we need from you

1. Get a mortgage in principle. Before you start viewing, so you know your budget and estate agents take your offer seriously.
2. Instruct us when your offer is accepted. We send our terms and complete ID and source-of-funds checks.
3. We investigate the property. We review the contract pack, order searches and raise enquiries, while you apply for your mortgage and book a survey.
4. We report to you. A plain-English report on the property and the contract, so you know what you’re buying before you commit.
5. Exchange and completion. You transfer your deposit, we exchange contracts, and on completion day you collect the keys.
6. After completion. We pay any Stamp Duty and register you as the owner.

Buying a flat or a new build

Many first homes are flats, which are usually leasehold. That means checking the length of the lease, the ground rent, the service charge and the building’s safety information, which can take longer. New builds bring their own deadlines and checks. See our guide to buying a new build.

Common mistakes to avoid

• Leaving ISA withdrawals or gifted deposit paperwork until late.
• Relying only on the lender’s valuation instead of getting your own survey.
• Booking removals or giving notice on a rental before contracts are exchanged.
• Forgetting extra costs such as buildings insurance, which you usually need from exchange.

Common questions