First Time Buyers: Your Step-by-Step Guide to Getting on the Property Ladder

Buying your first home is exciting, but it can also feel overwhelming. From saving your deposit to understanding mortgages and navigating the legal process, there’s a lot to think about.

This guide answers the key questions first time buyers often ask and walks you through the journey from preparation to completion — with practical tips to help you stay organised and confident throughout.

Where Do I Start When Buying My First Home?

Before you start viewing properties, preparation is key.

Check How Much You Can Afford

Speak to a mortgage adviser or lender to obtain a Mortgage Agreement in Principle (AIP). This gives you a clearer understanding of:

Your borrowing potential
The price range you should focus on
Your likely monthly repayments

Having an AIP in place also shows sellers you are serious and financially ready when you come to make an offer.

Save for More Than Just the Deposit

It’s important to budget for additional costs beyond your deposit. These may include:

Stamp Duty (if applicable)
Legal or conveyancing fees
Survey costs
Mortgage arrangement fees
Moving costs
Furniture and household essentials

Top Tip: Set up a dedicated savings account specifically for your home purchase so you can clearly track your progress.

Check Your Credit Score

Reviewing your credit report early allows you to:

Understand how lenders may assess your application
Identify any errors
Improve your position before applying for a mortgage

Try to avoid taking on new credit, changing jobs, or missing payments during the buying process, as lenders may reassess your financial position before completion.

Prepare Your Documentation

Having paperwork ready can speed up the mortgage and legal process. You may need:

Proof of identity (passport or driving licence)
Proof of address
Payslips or proof of income
Bank statements
Tax calculations if self-employed

Be Ready for Anti-Money Laundering (AML) Checks

Estate agents and solicitors are legally required to carry out AML checks. You may be asked to provide:

Identification documents
Proof of funds for your deposit
Evidence showing where your deposit savings have come from

Preparing this early can help avoid delays once you agree a purchase.

How Much Deposit Do I Need?

Most first time buyers purchase with a deposit between 5% and 10% of the purchase price.

Generally, the larger the deposit:

The better the mortgage rates available
The lower your monthly repayments may be
The more equity you start with

Speaking to a mortgage adviser can help you explore the most suitable options available to you.

What Should I Look For When Viewing Properties?

When viewing, look beyond décor and focus on the fundamentals:

Overall condition
Energy efficiency
Local amenities
Transport links
Long-term suitability
Future resale potential

It can be helpful to visit at different times of day to assess parking, traffic, and general surroundings.

Making an Offer

Once you find the right property, you can submit an offer through the estate agent.

Your offer will typically reflect:

Comparable local sales
Property condition
Market conditions
Your position as a buyer

Being financially prepared with an Agreement in Principle strengthens your position considerably.

The Legal Process (Conveyancing)

After your offer is accepted, the legal process begins.

Your solicitor or conveyancer will:

Carry out property searches
Review contracts
Raise enquiries with the seller’s solicitor
Liaise with your mortgage lender
Prepare for exchange and completion

Responding promptly to requests for information can significantly reduce delays.

Surveys and Property Checks

It’s important to understand that a mortgage valuation is not a full survey.

You may wish to consider:

A condition report
A homebuyer’s survey
A full structural survey (particularly for older properties)

Surveys can uncover potential issues before you legally commit to the purchase.

How Long Does the Buying Process Take?

Buying your first home involves two key phases: preparation, and the transaction itself.

Preparation Stage (2 – 6 weeks — sometimes longer)

This takes place before you have an offer accepted and includes:

Preparing your finances
Checking your credit score
Gathering documentation
Obtaining a Mortgage Agreement in Principle

The more organised you are at this stage, the smoother the next phase will be.

Offer Accepted to Completion (Typically 12 – 16 Weeks)

Once your offer has been accepted, the legal and mortgage process begins. In the current market, most transactions take around 12 – 16 weeks from offer acceptance through to completion.

This timeframe can vary depending on the complexity of the transaction and whether there is a property chain involved.

Within that period:

Offer to Exchange (Approx. 10 – 12 weeks)

Legal work and contract review
Property searches
Mortgage application and underwriting
Enquiries raised and resolved

Exchange to Completion (Approx. 1 – 4 weeks)

Contracts are formally exchanged
The transaction becomes legally binding
A completion date is agreed
Funds are transferred and keys released

Transactions can move more quickly where there is a short chain or no chain at all.

What Can Delay a Purchase?

Common delays include:

Mortgage underwriting queries
Survey issues
Slow responses to legal enquiries
Property chains collapsing

Staying in regular contact with your estate agent, solicitor and mortgage adviser helps keep everything moving.

Common First Time Buyer Mistakes to Avoid

Not getting a Mortgage Agreement in Principle early
Underestimating the full cost of moving
Taking out new credit during the process
Skipping or delaying surveys to save money

Buying your first home is a major milestone. While the process can sometimes feel lengthy, good preparation and clear communication make a significant difference.

If you’re considering taking your first step onto the property ladder, we’re always happy to guide you through the process and answer any questions you may have.