Nobody likes to think about a time when they won't be able to make their own decisions, but it can help to be prepared. Incapacity can happen at any time and come completely out of the blue from a serious accident or stroke, to a long-term illness.
That is why it is so important that everyone has a Power of Attorney, as well as a Will, in place. A Power of Attorney is a legal document that allows someone to make decisions for you, or act on your behalf, if you’re no longer able to or if you no longer want to make your own decisions.
Buying a house is the biggest expense and most important transaction most people will ever enter into. It is an exciting time, but often buyers focus on the dream of their new property rather than the reality of what they are purchasing. It is important to remember that the solicitor dealing with your purchase has probably never seen the property and is relying on the sales particulars, the home report and – most importantly – you to flag up to them any specific aspects of the property that they need to cater for in the contract. This is certainly true when it comes to unusual features of a property or if it has been negotiated that certain moveables are to be included in the price. This is equally true for buyers and sellers.
Buying your first home is exciting yet also daunting and getting on to the property ladder is challenging. However with mortgage rates stabilising, more and more affordable houses being built and various schemes available to help first time buyers make that move, now may be a good time for those trying to get on to the property ladder.
If you are new to the process, have a look at our guide to buying your first home and familiarise yourself with some of the terms associated to the process.