Pardoes’ warning to first time buyers

Feb. 13, 2012 - PRLog -- First time buyers are being warned not to rush into buying a property to avoid paying stamp duty. The suspension of stamp duty for first time buyers purchasing a property priced between £125,000 and £250,000 ends on 24 March, but leading South West solicitors Pardoes are advising first time buyers to be prudent.

Caroline Bennett, Head of Pardoes’ Residential Property Team, says, “Some first time buyers will feel they need to act fast to benefit from the stamp duty suspension, as buyers must have completed – not just exchanged – by this date. It is possible for first time buyers to still complete before the deadline, but we would recommend choosing a solicitor wisely, as choosing the cheapest solicitor or even using an ‘online’ legal service could cost you much more, in the long term, than paying the extra £2,500 to cover the stamp duty cost.”

Charlotte Rescorla, a solicitor within the Pardoes Residential Property team, says, “Unfortunately we see it a lot when we have an ‘online’ solicitor on the other side – extremely long delays; never speaking to the same person twice; the person who answers the phone has not worked on the file; and there is no qualified solicitor or legal executive working on the case. In our experience, we have found that unless your transaction is anything other than a simple sale or purchase, you are going to have a massive headache!”

Caroline Bennett continues, “At Pardoes we offer a comprehensive and first class service to our clients. We are members of The Conveyancing Quality Scheme, which means we adhere to extremely strict standards of service. This ensures we provide a service that clients can rely on. Every member of our Residential Conveyancing team is committed to providing the best service available when you are buying a property. We ensure you are fully protected both during and after, what is likely to be, the biggest financial investment you will make.”

Pardoes is a well-established South West legal firm, with 15 partners and 86 staff across its Bridgwater, Yeovil and Taunton offices. It offers a full range of legal services and has expanded many of its specialist sectors in the past two years. During that time, five new partners have been appointed to head up its core business divisions in the fields of private client, family and property.