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First-Time Buyer's Guide: Stepping onto the UK Property Ladder

Property Advice
10 November 2025
2 min read
British Property
First-Time Buyer's Guide

Buying your first home in the UK is an exciting milestone, but it can feel complex. This short guide breaks down the essential steps to help you on your journey.

Step 1: Get Your Finances in Order

  • Deposit is Key: Aim to save a minimum of 5-10% of the property's value. The larger your deposit, the better mortgage rates you'll typically be offered. Explore options like a Lifetime ISA (LISA) for a government bonus on your savings.

  • Check Your Credit Score: A good credit rating is vital. Register on the electoral roll, pay bills on time, and limit unnecessary credit applications.

  • Budget for Extra Costs: The deposit isn't the only expense! Budget for Stamp Duty (First-Time Buyer Relief applies in England/NI up to a certain value), Solicitor/Conveyancer fees, Survey costs, and Mortgage arrangement fees.

Step 2: Know What You Can Borrow

  • Speak to a Mortgage Broker: An independent broker can shop the whole market for you, often finding deals you can't access directly. This is highly recommended.

  • Get a Mortgage in Principle (MIP): This is a non-binding estimate from a lender stating how much they might lend you. It’s an essential document that shows sellers and estate agents you are a serious, financially-checked buyer.

Step 3: Search and Offer

  • Prioritise Your Needs: Be realistic about what you can afford. Make a list of 'must-haves' vs. 'nice-to-haves' regarding location, size, and condition.

  • View Properties: Visit a range of properties to get a feel for the market. When you find 'the one,' you're ready to make an offer.

  • Making an Offer: Your offer should be supported by your MIP. It's often helpful to put the offer in writing, stating your positive financial position (e.g., first-time buyer, MIP secured, etc.) to make it more appealing to the seller.

Step 4: The Legal Process

  • Instruct a Solicitor/Conveyancer: You'll need a property lawyer to handle all the legal paperwork, searches, and the transfer of ownership.

  • Get a Survey: Don't skip this! A survey (e.g., HomeBuyer Report or Building Survey) assesses the property's condition and can flag expensive issues before you commit.

  • Exchange and Completion: Exchange of Contracts is the point where the deal becomes legally binding and you pay your deposit. Completion is the final day—the remaining funds are transferred, and you get the keys!

💡 Top Tip

The process takes time—often 3 to 6 months—and can be stressful. Be proactive with your solicitor and mortgage broker, and stay organised. The key to a smooth purchase is preparation!