10 Steps to Buying a House for the First Time

Buying your first home is a huge milestone, exciting, a bit daunting, and full of big decisions. If you're a first-time buyer in the UK, you might be wondering where to start.

Buying your first home in the UK involves several key steps, including saving for a deposit, getting a mortgage in principle, finding a property, making an offer, applying for a mortgage, and completing the purchase.

This first-time buyer's guide will explain 10 key steps to buying your first house in the UK, from saving for a deposit to completing the purchase. Whether you're aiming to get on the property ladder soon or just starting to plan, here's everything you need to know about buying a house for the first time.

Follow these 10 key steps to make buying a home easier and less stressful:

1. Understand What You Can Afford
2. Start Saving for Your Deposit and Costs
3. Check and Improve Your Credit Score
4. Decide What Kind of Property You Need
5. Get a Mortgage Decision in Principle (DIP)
6. Find the Right Property and Make an Offer
7. Apply for a Mortgage
8. Instruct a Solicitor or Conveyancer
9. Book a Property Survey
10. Exchange Contracts and Set a Completion Date

Step 1: Understand What You Can Afford

Before you start house hunting, it's essential to figure out your home-buying budget. This includes how much you can borrow with a mortgage, how much deposit you'll need, and what your monthly repayments might look like.

This means working out:

• How much deposit you've saved or need to save
• What mortgage you could be eligible for
• The monthly repayments you can comfortably afford

Use our online mortgage calculator or speak to a mortgage advisor in London by calling 020 3813 7800 to get an estimate. Keep in mind that in 2025, some lenders are offering 95% mortgages, meaning you only need a 5% deposit.

Step 2: Start Saving for Your Deposit and Costs

To buy a home, you'll need a deposit, typically at least 5% to 10% of the property price. The bigger your deposit, the better your mortgage deal is likely to be.

But that's not the only cost. You should also save for:

• Stamp Duty (if applicable)
• Solicitor or conveyancing legal fees
• Survey fees
• Moving expenses
• Home furnishings or renovations

Setting up a realistic savings plan and monthly budget can help you reach your target faster.

Step 3: Check and Improve Your Credit Score

Your credit score plays a key role in your mortgage application. Lenders will assess your credit score and use it to decide whether to lend to you, and on what terms.

Tips to improve your credit score before applying:

• Register on the electoral roll
• Pay off debts and avoid missed payments
• Keep your credit usage low
• Check your credit report for errors

A better credit history can boost your chances of mortgage approval and help you secure a first-time buyer mortgage with lower interest rates.

Step 4: Decide What Kind of Property You Need

Think about your must-haves versus nice-to-haves to focus your property search more effectively.

Examples:

 Also, consider your future plans. If you're planning a family, buying a slightly larger home now might save you the hassle of moving again soon.

Don't forget location, ask yourself:

• What's the commute like?
• Are there good local schools?
• Is it a safe and friendly area?
• Are there shops, parks, or amenities nearby?

Step 5: Get a Mortgage Decision in Principle (DIP)

Before you start making offers, get a Decision in Principle (DIP) from a lender. A Decision in Principle (also called an Agreement in Principle) is a letter from a lender showing how much they might lend you. It's based on a soft credit check and doesn't impact your credit score.

Having a Decision in Principle (DIP) can:

• Help you understand what you can afford
• Show estate agents and sellers you're a serious buyer
• Speed up the mortgage application process later on

You can usually get a Decision in Principle online in minutes. It won't impact your credit score and is valid for 30 to 90 days.

Step 6: Find the Right Property and Make an Offer

Now that you know your budget, it's time to start viewing houses and booking appointments with estate agents. When you find "the one," it's time to make an offer. You can negotiate the price, especially if:

• The property has been on the market for a while
• There are repairs needed
• You're chain-free (which appeals to sellers)

Be ready to negotiate; it's common to offer below the asking price, especially if the property needs work or has been listed for a while. If your offer is accepted, congratulations! If not, don't worry. There are always more homes out there.

Step 7: Apply for a Mortgage

After your offer is accepted, it's time to submit your full mortgage application. Our expert mortgage advisor in London can guide you through the process, compare the best deals, and manage all the paperwork for you.

Our mortgage broker will:

• Assess your mortgage eligibility
• Calculate your affordability
• Review and verify your documents
• Search for the best mortgage deals for your situation
• Prepare and submit your mortgage application
• Handle all the paperwork
• Communicate and liaise with the lender on your behalf

Step 8: Instruct a Solicitor or Conveyancer

Your solicitor or licensed conveyancer will handle the legal side of things. This stage, known as conveyancing, includes:

• Checking property ownership and boundaries
• Managing the exchange of contracts
• Collecting and transferring payments
• Conducting local searches (e.g. for flood risks or planning issues)

This process can take around 6 to 12 weeks, depending on the chain and any complications.

Step 9: Book a Property Survey

It's important to get a survey done to check the property's condition. There are different types:

• Condition Report: Basic check, suitable for newer homes
• Home Buyer Report: More detailed, including issues like damp or structural movement
• Full Building Survey: For older or unusual properties

If serious issues are found, you may be able to renegotiate the price or ask the seller to fix them before completion.

Step 10: Exchange Contracts and Set a Completion Date

When everything is in place, you'll exchange contracts, which is the legal commitment to buy the home. You'll also:

• Pay your deposit to your solicitor
• Arrange buildings insurance (required from this point)
• Agree on a completion date (usually 1-2 weeks later)

On completion day, the remaining money is transferred, and you can collect the keys to your new home. It's official, you're now a homeowner!

Final Thoughts

Buying a home can be a rollercoaster, but with the right knowledge and support, it doesn't have to be stressful. Whether you're saving for a deposit, checking your credit score, or applying for a mortgage, take it one step at a time.

If you're ready to take the next step, call our mortgage advisor in London at 020 3813 7800 for tailored guidance.

How We Help You Get Your First Mortgage

We make the home-buying journey easier with a straightforward 5-step approach:

1. Check how much you can borrow: Use our calculators or speak with an advisor to get a clear picture of your budget.
2. Get a Mortgage in Principle: This shows sellers you're a serious buyer, without affecting your credit score.
3. Find a property and make an offer: Once you've found the right home, we can even help you with negotiations.
4. We find you the best mortgage deal: Our experts search across 100+ lenders to get the most suitable deal for you.
5. Receive your mortgage offer: We'll guide you through to completion, working with your solicitor and estate agent on your behalf.

Contact First-Time Buyer Mortgage Brokers in London

If you are looking for a fast and friendly first-time mortgage advisor in London, call Infinite Finance London today at 020 3813 7800 or fill in our online form.