Buying your first home in the UK House Buyers is a big milestone—and a big learning curve. Between mortgages, deposits, legal checks, and government schemes, it can feel overwhelming fast. The good news? With the right prep, you can avoid common pitfalls and move forward with confidence. Here’s a clear, practical guide to what first-time buyers should know before taking the plunge.

1. Get Your Finances in Shape (Early)

Before you fall in love with a Rightmove listing, take a hard look at your finances.

Deposit:
Most lenders require at least 5–10% of the purchase price, though a 15–20% deposit often unlocks better interest rates. For a £250,000 home, that’s £12,500–£50,000.

Affordability:
Lenders usually offer 4–4.5 times your annual income, but this depends on debts, childcare costs, and credit history. Use mortgage calculators as a rough guide, not a promise.

Credit score:
Check your credit report (Experian, Equifax, TransUnion). Pay bills on time, reduce credit card balances, and avoid new credit applications before applying for a mortgage.

2. Understand the True Cost of Buying

The purchase price is just the start. Budget for these extra costs:

  • Stamp Duty Land Tax (SDLT):
    First-time buyers currently pay no stamp duty on homes up to £425,000, with relief tapering up to £625,000 (rules can change, so always double-check).
  • Solicitor/conveyancing fees: £1,000–£2,000
  • Survey costs: £250–£1,500 depending on survey type
  • Mortgage arrangement & valuation fees
  • Moving costs and initial repairs

Having a buffer can save serious stress later.

3. Get a Mortgage Agreement in Principle (AIP)

An Agreement in Principle (also called a Decision in Principle) shows sellers you’re serious and gives you a realistic budget. It’s not a guarantee, but estate agents often expect it before booking viewings.

You can get an AIP from:

  • Banks/building societies
  • Online lenders
  • Independent mortgage brokers (often the best option for first-time buyers)

4. Explore First-Time Buyer Schemes

The UK offers several schemes designed to help new buyers:

  • Lifetime ISA (LISA):
    Save up to £4,000 a year and get a 25% government bonus towards your first home (price cap applies).
  • Shared Ownership:
    Buy a share (usually 25–75%) and pay rent on the rest—useful, but read the fine print.
  • 95% mortgages:
    Some lenders offer these with government backing, meaning lower deposits but higher monthly payments.

Each scheme has pros and cons—don’t assume they’re all good fits.

5. Choose the Right Location (Think Long-Term)

It’s tempting to focus on the house itself, but location matters just as much.

Ask yourself:

  • How long is the commute (now and realistically in 3–5 years)?
  • Are there schools, transport links, shops, and healthcare nearby?
  • Is the area up-and-coming or stagnating?

Visit the neighbourhood at different times of day. A quiet street at noon can feel very different on a Friday night.

6. Don’t Skip the Survey

Surveys aren’t just a formality—they can save you thousands.

  • RICS Level 1 (Condition Report): Basic overview
  • RICS Level 2 (HomeBuyer Report): Most common for first-time buyers
  • RICS Level 3 (Building Survey): Best for older or unusual properties

If a survey reveals issues, you can renegotiate the price—or walk away.

7. Make an Offer (and Negotiate)

Your first offer doesn’t have to be your final one. Consider:

  • Recent sale prices of similar homes
  • How long the property has been on the market
  • Whether the seller is in a chain

Be clear about what’s included (fixtures, appliances) and keep emotions in check—there will always be another house.

8. Understand the Legal Process

Once your offer is accepted:

  • Your solicitor handles searches, contracts, and legal checks
  • Your lender finalises the mortgage offer
  • You’ll exchange contracts (legally binding)
  • Then completion day—you get the keys 🎉

The process typically takes 8–12 weeks, sometimes longer if chains are involved.

9. Plan for Life After Completion

Owning a home means ongoing responsibility:

  • Maintenance and repairs
  • Buildings insurance (mandatory with a mortgage)
  • Council tax and utilities

Set aside an emergency fund—things will break eventually.

Final Thoughts

Buying your first home in the UK is equal parts exciting and nerve-wracking—but knowledge is your biggest advantage. Get your finances right, ask questions, don’t rush, and surround yourself with good advice. The goal isn’t just to buy a house—it’s to buy the right one for your future.