Help to Buy Solicitors
Key Takeaways
- You will need Help to Buy conveyancing solicitors when you're ready to repay your loan, sell your property, or transfer equity. They do the required legal work.
- The Help to Buy administrator has now changed; please liaise with Homes England for customer services on your Help to Buy loan.
- The scheme is closed in England but extended to Wales until March 2025. New schemes for first-time buyers include Save To Buy and Rent to Buy.
- Our Help to Buy solicitors fees start from £629 INC VAT for a partial repayment and £347 INC VAT for remortgaging your Help to Buy. If you're looking to transfer equity, our fees start from £413.
- Take a look at our Help to Buy repayment calculator to help make sense of your mortgage repayments.
Help to Buy Solicitors Fees
The solicitor's fees vary depending on whether you are paying off your Help to Buy loan in full or partially. It often costs more to settle partially.
Help to Buy Repayment Solicitor fees
Our solicitor's fees range depending on the service type but start from £629 INC VAT for a partial repayment and £569 INC VAT for a full repayment.
Our remortgaging fees start from £347 INC VAT.
We have a hand-selected panel of excellent Help to Buy conveyancing solicitors and RICS Valuers who will meet Help to Buy requirements. Get a quote for all of your Help to Buy repayment needs.
Can I add or remove someone from my Help to Buy property?
Yes, you can, and we can help. You'll want to read our Transfer of Equity article on Help to Buy properties and get a quote below.
If you're looking to transfer equity to a loved one to add them onto the legal title, our fees start from £413 INC VAT.
Schemes that SAM can help you with
Help to Buy Wales
The Welsh Government has extended the Help to Buy scheme until March 2025. This means that first-time buyers in Wales can still benefit from the government's support in purchasing a new-build home.
- The Help to Buy Wales scheme has no specific income limit.
- The maximum price for a property purchased through the scheme is £300,000.
- Applicants must not have owned a property before.
Forces Help to Buy
The Forces Help to Buy scheme is a government initiative designed to help military personnel purchase their own home. It's a version of the standard Help to Buy scheme, tailored specifically for those serving in the Armed Forces.
Key features of the Forces Help to Buy scheme include:
- Similar to the standard scheme, it requires a smaller deposit, typically 5%.
- The government provides an equity loan of up to 50% of the personnel's annual salary.
- The scheme is open to regular and reserve forces personnel, including veterans.
Home Ownership for People with Long-Term Disabilities (HOLD)
This scheme is designed to help individuals with long-term disabilities buy their own home by providing financial support in the form of a shared ownership mortgage.
To be eligible for the HOLD scheme, you typically need to have a long-term disability and be unable to afford a conventional mortgage.
Key features of the HOLD scheme:
- You buy a share of your home and pay rent on the remaining share.
- As your financial circumstances improve, you can buy additional shares in your home.
Older Persons Shared Ownership (OPSO)
This is a scheme designed to help older people buy a share of a property, rather than the whole thing outright. This can be particularly beneficial for those who may not have the full deposit for a traditional mortgage or those who want to downsize.
To be eligible for Older People's Shared Ownership, you typically need to be over a certain age (usually 55 or older) and meet specific income and affordability criteria.
Need help with the conveyancing on a buying scheme?
Whether you're military personnel, applying for the HOLD scheme, or you're a retiree in the OPSO scheme, we can help.
Call us on 0333 344 3234 (local call charges apply), email us at help@samconveyancing.co.uk, or click the button below for a free, no-obligation quote.
Example of Help to Buy Solicitors Fees
This is an example of conveyancing fees for redemption of £250,000:
Description | Cost |
Help to Buy Solicitor Fee. | £399 INC VAT |
Land Registration The Land Registry cost is based on the price of your property. | £20-£140 |
Local Authority Search Indemnity Some lenders require a new local search which we will inform you about. | £50 |
Online ID Check ID our solicitor accepts. | £18 INC VAT |
Official Copy of Register and Title Plan (per title) | £16 |
Mortgage lender portals - LMS portalFor some lenders, your solicitor uses a portal to download the mortgage offer, the occupier waiver form and to submit an E-COT (electronic certificate of title sent to draw down your mortgage). This fee is paid by you and is not a solicitor fee, mandatory for the following lenders: Atom Bank Plc, Barclays Bank Plc, Bluestone, Buckinghamshire Building Society, Chorley Building Society, Clydesdale and Yorkshire Bank, Cynergy, Danske Bank, Darlington Building Society, Dudley Building Society, Hinckley & Rugby Building Society, HSBC Bank Plc, Investec Bank, Leeds Building Society, LiveMore Capital, Marsden Building Society, Melton Building Society, Monmouthshire Building Society, National Westminster Bank Plc, Newcastle Building Society, Royal Bank of Scotland Plc, Skipton Building Society, TSB Bank Plc, Virgin Money Plc, and West Bromwich Building Society. Lender Exchange Portal - £12 INC VAT for the following lenders: Aldermore, Barclays, Cambridge Building Society, CHL Mortgages, Coventry Building Society/Godiva Mortgages, Cumberland Building Society, Fleet Mortgages, Generation Home, Help to Buy ISA, Lloyds, Market Harborough, Nationwide, Pepper Money, Perenna Bank Plc, Precise Mortgages, Santander, and The Paragon Group. ULS Portal - £12 INC VAT for the following lenders: April Mortgages, Foundation Home Loans, Habito, Hodge Bank, Lendinvest (Third Party Solicitor), Metro Bank, MT Finance, MQUBE/Mpowered, Principality, and Vida Homeloans. | £45 INC VAT (if applicable) |
(if leasehold) Official Copy of the Lease | £3 |
(if leasehold) Notice to freeholder | £TBC |
Terms and Conditions apply.
We can also help with a local RICS surveyor (if required) | |
|---|---|
RICS Help to Buy Valuation ReportOur quote is for a Help to Buy-compliant RICS valuer to value your property. | £360 INC VAT |
How long does the conveyancing take?
Selling
The process can be completed between 2 to 3 months for a freehold and longer for a leasehold. Transactions where there are third parties, such as your buyer and potentially an onward purchase, have the potential for the transaction to take longer to complete.
Just repaying the loan
The process can be completed between 1 to 3 months when you are just repaying the Help to Buy loan with a remortgage or personal savings.
From local RICS surveyors for a Help to Buy valuation to expert solicitors for remortgaging or selling your Help to Buy property, SAM has you covered.
We're on 99% of mortgage lender panels and provide fixed-fee, no-obligation quotes for all your Help to Buy needs. Property challenges solved.
Help to Buy Solicitors
Fast Completions
Fixed Cost
Caragh is an excellent writer and copy editor of books, news articles and editorials. She has written extensively for SAM for a variety of conveyancing, survey, property law and mortgage-related articles.
