The short answer
Sort your budget, deposit and mortgage in principle before you start viewing. Instruct a conveyancer the day your offer is accepted, book a survey, and answer every request quickly. Most moves take 8 to 12 weeks from offer to keys, and the checklist below covers each stage in order.
Your checklist, stage by stage
Buying your first home involves a lot of new words and a lot of people. It's much less daunting when you know what comes next. Work through these stages in order and tick things off as you go.
1. Before you start looking
- Set a budget. Think beyond the price. Add up the deposit, conveyancing, survey, mortgage fees, removals and any Stamp Duty, then work out the monthly payments you can live with.
- Save your deposit. The bigger your deposit, the more mortgage deals you'll usually be offered. Keep a clear trail of where the money came from, because your conveyancer has to check it.
- Check your credit report. Lenders look at your credit history. Check your report for mistakes and make sure you're on the electoral roll at your current address.
- Get a mortgage in principle. This is a statement from a lender saying roughly how much they'd lend you. It isn't a guarantee, but estate agents and sellers take you more seriously with one.
- Get your ID ready. Have your passport or driving licence and a recent proof of address to hand. Your conveyancer and lender will both ask for them.
2. When you find a place
- Make an offer. Make it through the estate agent, and say you're a first-time buyer. Having no property to sell makes you an attractive buyer.
- Instruct a conveyancer straight away. Don't wait for the mortgage to come through. The legal work can start the day your offer is accepted, and every day you wait adds a day at the end.
- Check whether it's freehold or leasehold. A leasehold property, which includes almost every flat, comes with extra costs and checks. Our guide to leasehold vs freehold explains the difference.
- Book a survey. Your lender's valuation is for the lender, not for you, and it won't tell you about damp or a dodgy roof. A survey will.
There are three common levels of survey. A Level 1 survey is a basic check of the property's condition, suited to newer homes in good order. A Level 2 survey goes further and flags problems like damp, subsidence or repairs that are needed. It suits most ordinary homes. A Level 3 survey is the most detailed, and is worth it for older, larger or unusual properties, or if you plan major work.
3. During conveyancing
- Apply for your mortgage. Turn your mortgage in principle into a full application. The lender values the property and then sends a formal mortgage offer.
- Pay for your searches. Your conveyancer orders checks with the council, the water company and others. Our guide to conveyancing searches explains what each one covers.
- Expect enquiries. Your conveyancer asks the seller's side questions about anything unclear in the contract, the title or the search results. This often takes the longest.
- Read your report. Before you sign, your conveyancer sends a report on the property. Read it properly, and ask about anything you don't understand. That's what we're here for.
- Tell us early if you're using a Lifetime ISA. Your conveyancer has to request the money from your ISA provider, and that takes time. Leaving it to the last week can delay exchange.
- Line up buildings insurance. As a buyer, you're usually responsible for insuring the building from exchange, not from completion, and your lender will insist on it. Have a policy ready to start on the day you exchange.
4. Exchange of contracts
- Sign the contract. Your conveyancer sends it to you once everything is in place.
- Send your deposit. Transfer it to your conveyancer in good time. Before you send money, always phone your conveyancer on a number you already know to confirm the bank details, because criminals do send fake emails pretending to be conveyancers.
- Agree the completion date. This is the day you get the keys, and it's fixed at exchange.
- Understand that it's binding. Once contracts are exchanged, you're legally committed to buying. Pulling out after exchange means losing your deposit and possibly more.
Our guide to exchange vs completion explains what happens between the two.
5. Completion day
- Wait for the call. Your lender sends the money to your conveyancer, who sends it to the seller's conveyancer. Once it arrives, the keys are released, usually through the estate agent. This can take until the afternoon, so don't book removals for first thing in the morning.
- Take meter readings. Photograph the gas, electricity and water meters as soon as you're in, and give the readings to the suppliers.
- Check the property. Make sure everything included in the sale is there, and find the stopcock and fuse box.
- Update your address. Tell the council about Council Tax, and update your bank, employer, doctor, DVLA and the electoral roll.
6. After you move in
- Stamp Duty. Stamp Duty Land Tax is a tax on buying property in England. First-time buyers can get relief, which means paying less or none at all, depending on the price. The rules change from time to time, so check the current position on GOV.UK. Your conveyancer usually submits the return for you after completion. Buying in Wales? There's a different tax there, called Land Transaction Tax.
- Land Registry. Your conveyancer registers you as the new owner with HM Land Registry. This can take a while to come through, but you own the home from completion.
How we help first-time buyers
You get a named conveyancer from day one, and updates on WhatsApp so you always know which box on this list you're on. You pay a small amount to get started, and the rest is due on completion. If your purchase falls through and it's not your fault, we give you a second chance, even on a different property. We're regulated by the Council for Licensed Conveyancers.
