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Proudly Serving Clients in Birmingham and Solihull
Northwood Banks & Co Limited
The Offices will be closed for Christmas and New Year from 5pm 23rd December 2020 and will re-open on Monday 4th January 2021 at 9am.
1600-1602 Coventry Road,Yardley,
Birmingham, West Midlands, B26 1AL
0121 721 9162 | 0800 043 1369
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Legal Services regulators of England and Wales have a website to help consumers: www.legalchoices.org.uk
The following article is an extract from their website:
If you are saving to buy your first home, you might be surprised to find out that if you save money into a Help to Buy: ISA the Government will boost your savings by 25%. So, for every £1, 000 you save, you receive a government bonus of £250. The maximum government bonus you can receive is £3,000.
The accounts are available to each first time buyer, not each household. This means that if you are planning to buy with your partner, for example, you could receive a government bonus of up to £6,000 towards your first home.
How does it work?
You can save up to £200 a month into your Help to Buy: ISA. In addition to kickstart your account, in your first month, you can deposit a lump sum of up to £1,200.
The minimum government bonus is £400, meaning that you need to have saved at least £1,600 into your Help to Buy: ISA before you can claim your bonus. The maximum government bonus you can receive is £3,000 – to receive that, you need to have saved £12,000.
Claiming the bonus
When you are close to buying your first home, you will need to instruct your solicitor or conveyancer to apply for your government bonus. NORTHWOOD BANKS & CO are on the panel to deal with this special government bonus and will be able to deal with all the paperwork and legal side to ensure you get your bonus. Once they receive the government bonus, it will be added to the money you are putting towards your first home. The bonus must be included with the funds consolidated at the completion of the property transaction. It is worth noting That the bonus cannot be used for the deposit due at the exchange of contracts, to pay for solicitor’s, estate agent’s fees or any other indirect costs associated with buying a home.
For help and advice on this or any other house moving question call Charles or Deepak on 01217069811.
Will
Aid Solicitors raise £1.1 million for charity .Nine charities are set to
benefit from a share of £1.1 million after solicitors across the UK took part
in Will Aid, the national charity will-writing campaign. Northwood Banks &
Co are proud to be one of the 700 + firms nationwide that took part in Will Aid
2017, volunteering their time and waiving their fees during November to write
thousands of basic wills for people, instead only asking for a voluntary
donation. Northwood Banks & co have raised over £4,000 so far. Peter de
Vena Franks, Will Aid campaign director, said: “Will Aid relies on the
generosity of the solicitors involved who dedicate a portion of their time
during November every year to help raise a staggering amount of money to help
vulnerable people and communities in the UK and around the world. “Their
efforts also benefit thousands of local people, providing them with the safety
and security of a professionally drawn-up will which will protect their loved
ones” Mr de Vena Franks said: “Taking the opportunity to provide support to a
favourite charity by making a gift in your will makes a huge difference to
those organisations and the millions of people they support.” Roland Borriello,
director of Northwood Banks & Co said “ we are delighted to once again be
part of this fantastic scheme. “ The Will Aid scheme will run again in November
2018. To take advantage of this fantastic scheme contact us on 01217069811 and
ask about the Will aid scheme.
Contact us today to speak with our will writers in Birmingham, in the West Midlands.