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Buying guide

Buying your first home in the UK: the complete process explained

Buying a first home is the largest transaction most people make, and the process is genuinely confusing. Here it is, demystified.

Before you start looking

Get your finances ready first: save a deposit (5% minimum, but 10-15% gets better mortgage rates), check and improve your credit score, and get a mortgage 'agreement in principle' (AIP) from a lender or broker. The AIP tells you your realistic budget and shows sellers you're serious. A Lifetime ISA adds a 25% government bonus to deposit savings (up to £1,000/year) — one of the best deals available to first-time buyers. Track progress with our free house deposit tracker.

Finding, viewing and offering

View widely before offering — and view properties more than once, at different times of day. Use our free house viewing checklist to inspect systematically rather than being swayed by presentation. When you find the right place, your offer can be below asking (in a buyer's market) — the estate agent works for the seller, so be cautious about their advice. An accepted offer is not legally binding until exchange of contracts, so move quickly to instruct a solicitor.

From offer to keys: the legal process

Once your offer is accepted: instruct a conveyancing solicitor, get a survey (a Homebuyer's Report or full Building Survey for older properties — never skip this), and complete your full mortgage application. Your solicitor handles searches (local authority, environmental, water), the contract and the Land Registry. Exchange of contracts is the point of legal commitment (you pay your deposit and set a completion date). Completion is when the money transfers and you get the keys. Our free first-time buyer checklist tracks every stage.

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Frequently asked questions

How much deposit do you really need to buy a house?
The minimum is typically 5% of the property value (95% mortgages exist but with higher rates). 10% opens up better rates; 15-20% gets the best deals and lowest monthly payments. On a £250,000 home: 5% = £12,500, 10% = £25,000, 20% = £50,000. Beyond the deposit, budget for conveyancing, surveys, stamp duty (above the first-time buyer threshold) and moving costs — typically £3,000-6,000 more.
Should you use a mortgage broker or go direct to a bank?
A good mortgage broker can access deals not available directly to the public, compares the whole market, and handles the application paperwork. For first-time buyers especially, a broker's guidance through an unfamiliar process is often worth the fee (some are fee-free, earning commission from lenders). Going direct to one bank limits you to their products only. For most first-time buyers, a whole-of-market broker is the safer choice.