Purchaser Incentive Schemes

 

Please contact our sales representative to check if the particular development you are interested in offers any purchaser incentive schemes at this time.

All purchaser incentive schemes are Subject to Status and Terms and Conditions apply - all of which we will happily explain to you.

Glossary of purchaser incentives (for descriptive purposes only - please refer to site sales representative for details of availability on the development of your choice). 

Legal fees paid

Legal fees are the fees charges by solicitors or conveyancers acting on your behalf in connection with your property transaction.  The charges will typically include fees for their time, telephone and internet charges, letters and an indemnity fee, plus a contingency for unforeseen problems.  On top of that, there will be council and Land Registry fees for searches and for lodging title deeds.  All of these charges can be included in a Legal Fees Paid package if available.

Stamp duty paid

'Stamp Duty' or 'Stamp Duty Land Tax' (it's full name) is a tax charged on land and property transactions in the UK and is charged at different rates according to the value of a transaction.  The purchaser has to pay the SDLT on their purchase, however some developers may offer a Stamp Duty paid incentive and pay it for you.

At various times 'packages' become available on certain schemes and could include a combination of all or some of the following; Legal fees, Valuation fees, Selling agent fees and Stamp Duty.

Part Exchange

There are various versions of the part exchange principle in addition to the simple "You buy theirs and the Developer buys yours".  The obvious advantages of part exchange are that you have a guaranteed buyer and therefore don't have to worry about house buying chains.  You can move in when your house is ready and in addition you can save money on estate agent's fees.

There are variations on this theme which are offered by particular developers e.g. EasyMover or Part Xchange Xtra schemes.  Our sales advisers can explain the criteria which your current home has to meet to qualify and the ins and outs of any of the part exchange packages availables.

Movemaker/Assisted Move

This is a separate scheme which, in conjunction with the developer, we instruct an agent who will manage all the valuations, viewings and enquiries for you and the developer will pay the estate agent's fees on your behalf.

Email px@lanesnewhomes.co.uk for information on Part Exchange or Movemaker/Assisted Move schemes.

Free Fittings

Today's discerning buyers expect a lot more than just four walls and a roof.  In most cases, standard specifications on a new property are already very good.  However, there can be additional incentives offered to entice buyers such as free kitchen appliances and free carpets or flooring - all of which can provide genuine savings in terms of your cash and your time.  We can advise you of any additional fittings, which may be available to you to choose.

Help to Buy

These are Government-backed schemes which help first time buyers and existing home owners purchase a home with as little as 5% deposit up to a maximum purchase price of £600,000 and must be purchased for the buyers own occupation.  The two schemes have succeeded the previous, but currently still available Government-backed NewBuy scheme which is limited to a maximum purchase price of £500,000.

Help to Buy Equity Loan

A Shared Equity Programme which applies to new home purchases featuring a 20% interest free (for the first five years) equity loan from the government.  Buyers need to have 5% of the purchase price for the cash deposit and apply for a loan of 75% from a lender.  Available on selected Lanes New Homes Developments subject to status and within the maximum purchase price criteria.

Help to Buy Mortgage Guarantee Scheme

A mortgage guarantee scheme which can be used to buy a new or an older property.  Again buyers need to have a 5% cash deposit and then borrow up to a 95% mortgage from the participating banks and building societies (lenders).  The government will indemnify (compensate) the lender against up to 15% of the loss should the borrower default.  Available on all Lanes New Homes Developments subject to status and within the maximum purchase price criteria.

With both of the above schemes do remember "Your home is at risk if you do not keep up repayments on a mortgage or any other loan secured on it".

For more information email helptobuy@lansnewhomes.co.uk

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