Buying your first home is a big step, and it involves far more than finding a property you like. There are agents, surveyors, solicitors and lenders to deal with, and a fair amount of waiting in between. Knowing the order things happen in makes the whole process feel far more manageable. Here’s a clear overview of the journey from start to finish.
1. Decide What You Can Afford
Start with the full picture, not just the deposit. Alongside the price of the property, budget for:
- Your deposit
- Stamp duty (if applicable)
- Solicitor or conveyancer fees
- Survey and valuation costs
- Mortgage arrangement fees
- Removal costs and furnishing
Then look at your monthly outgoings. Be realistic about what you can comfortably pay each month, including bills, council tax and maintenance, not just the mortgage payment. Interest rates can change, so it helps to leave some breathing room.
2. Save Your Deposit
Most first-time buyers need a deposit of at least 5% of the purchase price, and a larger deposit usually means a better mortgage rate. If you’re eligible, a Lifetime ISA can boost your savings with a 25% government bonus. Check the current rules and property price limit before relying on it. Family gifts are also common, but lenders will ask for a letter confirming the money is a gift and not a loan.
3. Get Your Finances in Order
Before you apply for anything, check your credit report, make sure you’re on the electoral roll, and avoid taking on new credit. Lenders look closely at your spending and your history of paying bills on time, so a few months of tidy finances can make a real difference.
4. Speak to a Mortgage Broker and Get a Mortgage in Principle
A broker can explain what you can borrow and which lenders suit your circumstances, then help you obtain a Mortgage in Principle. This shows estate agents and sellers you’re a serious buyer. For a detailed breakdown of the mortgage side, see our [First-Time Buyer Mortgage Guide] and our guide to [what a Mortgage in Principle is].
5. Start Searching for Properties
Use property portals, local estate agents and viewings to build a sense of what your budget buys in different areas. When you view, look beyond the decor:
- Signs of damp, cracks or poor repairs
- The condition of the roof, windows and boiler
- Noise levels and parking at different times of day
- Local transport, schools, shops and broadband speeds
- The Energy Performance Certificate (EPC) rating, which affects running costs
If the property is leasehold, check the length of the lease, the ground rent and the service charges. These can affect both your costs and your ability to get a mortgage.
6. Make an Offer
When you find the right home, you’ll make an offer through the estate agent. It’s common to start below the asking price, but the right approach depends on the local market and how much competition there is. Once your offer is accepted, ask for the property to be marked as sold subject to contract. Note that until contracts are exchanged, either side can still withdraw, and this is one of the risks of buying in England, Wales and Northern Ireland.
Scotland works differently: offers are made through a solicitor, often above the “offers over” price, and once accepted, the agreement becomes legally binding much earlier.
7. Instruct a Solicitor or Conveyancer
Your conveyancer handles the legal side of the purchase. That includes checking the title, carrying out local authority and environmental searches, and reviewing the contract. Appoint one as soon as your offer is accepted, since delays here are one of the most common reasons purchases take longer than expected.
8. Submit Your Full Mortgage Application
Your lender will now check your finances properly, and you’ll need to provide ID, proof of income, bank statements and evidence of your deposit. The lender will also arrange a valuation, which is for their benefit and only confirms the property is worth the price you’re paying.
9. Arrange a Survey
A valuation won’t tell you the condition of the property, so consider commissioning your own survey. Options range from a basic condition report to a Homebuyer Report and a full Building Survey, which is more suitable for older or unusual properties. If the survey finds problems, you may be able to renegotiate the price or ask the seller to fix them.
10. Receive Your Mortgage Offer
Once the lender is satisfied, they issue a formal mortgage offer. Read it carefully, checking the rate, term, fees and conditions. Your solicitor will also go through it with you before you commit.
11. Exchange Contracts
This is the point at which the sale becomes legally binding. You and the seller sign matching contracts, you usually pay your deposit, and a completion date is agreed. If you pull out after this point, you could lose your deposit and face legal action, so make sure you’re sure before you exchange. Buildings insurance must also be in place from exchange.
12. Completion and Moving Day
On completion day, your solicitor transfers the remaining funds to the seller’s solicitor, and once they confirm receipt you can collect the keys. Arrange your removals, notify your bank, employer and utility providers of your new address, and take meter readings when you arrive.
How Long Does the Whole Process Take?
From an accepted offer to getting the keys, buying a home in England typically takes around three to five months, though it can be quicker or slower depending on the length of the chain, the responsiveness of solicitors and lenders, and any issues found in searches or surveys.
Frequently Asked Questions
What is the first step to buying a house in the UK?
Work out what you can afford, including your deposit and the extra costs of buying, and check your credit report. After that, speak to a mortgage broker to get a Mortgage in Principle.
How much do I need to buy my first home?
That depends on the property price, but as a guide you’ll need a deposit of at least 5%, plus extra funds for legal fees, surveys, any stamp duty and moving costs.
Do I need a solicitor to buy a house?
Yes, in practice you’ll need a solicitor or licensed conveyancer to carry out the legal work and register you as the new owner.
What is the difference between a valuation and a survey?
A valuation is done for the lender to confirm the property is worth the price. A survey is for you and checks the property’s condition.
What happens if the seller pulls out?
Before exchange of contracts, either side can withdraw without legal penalty, though you may lose money spent on surveys and legal fees. After exchange, the contract is binding.
Thinking about buying your first home? Speak to our team for free, no-obligation advice on the mortgage side of the process.
