Acting for First Time Buyers - Including the Your First Home Scheme

Introduction

It isn’t easy getting on the property ladder and government help can come and go.

We have seen the end of the Government Home Equity Loans (apart from redeeming them) but there is now the Your First Home Scheme and other assistance which is available.

Apart from what may be there on the market generally, or from the Government, there is that old standby, ‘Bank of Mum and Dad’ which is itself not free of potential problems.

For the conveyancer there are many pitfalls to be aware and it is timely to look at these in more detail.

What You Will Learn

This live and interactive course will cover the following:

• Shared ownership schemes
• SDLT Relief for first time buyers
• ‘Your First Home’ Government equity loan scheme overview
• Government First Homes Initiative - confusingly similar name to the Your First Home scheme but a different creature
• Redeeming existing Help to Buy Equity loans:
• Help to Buy ISA - was for first time buyers to raise a deposit but no longer available for new applicants - First Time Buyer ISA on its way
• 20% Discount via ‘Starter Home Initiative’, Armed Forces - MOD Interest free loans, Lifetime ISA
• Government Mortgage Guarantee Scheme
• An overview of the Government Right to Buy Scheme
• Bank of Mum and Dad - helping raise the deposit, is it a gift or a loan, where is the money coming from
• Declarations of Trust - what should go in them
• UK Finance conditions and Mortgagee attitudes to gifted deposits
• Fraudulent ‘Gifts’ to dupe the lender and what can happen if the donor of the deposit becomes insolvent

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.