How do you buy your first home in England?
Buying your first home in England usually follows the same path: save a deposit, get a mortgage agreement in principle, find a home and make an offer, then instruct a conveyancer, apply for your mortgage and book a survey. Once the legal work is done you exchange contracts, which makes the purchase binding, and then complete and collect the keys.
Nobody explains the whole journey to first-time buyers in one place. Estate agents, brokers and conveyancers each handle their own part, and it is easy to miss a step that falls between them. This guide sets out every stage in order, what happens at each one and the checks worth making, with links to our detailed guides along the way.
Step 1: Work out your budget and save a deposit
Most mortgages need a deposit of at least 5% of the price, and a bigger deposit usually gets you a lower interest rate. You also need money for the costs of buying on top of the deposit: legal fees, searches, a survey, mortgage fees and moving.
First-time buyers pay no stamp duty on homes up to £300,000 at current rates. If you are saving in a Lifetime ISA, check the current rules on GOV.UK, including the price limit and how long the account must have been open.
Step 2: Get a mortgage agreement in principle
An agreement in principle (sometimes called a decision in principle) is a lender's statement of how much it might lend you, based on your income and a credit check. Estate agents often ask for one before taking your offer seriously.
It is not a guaranteed offer. Ask whether the lender will run a soft or hard credit search, and how long the agreement lasts. A mortgage broker can compare lenders for you; ask how they are paid before you start.
Step 3: Find a home and make an offer
When you find the right home, you make your offer through the estate agent, who must pass it to the seller. Be ready to show your agreement in principle and proof of your deposit.
An accepted offer is not legally binding in England. Until exchange, either side can pull out, and the seller can accept a higher offer.
Step 4: Instruct a conveyancer, apply for your mortgage and book a survey
Once your offer is accepted, three things run at the same time. Your conveyancer or solicitor does the legal work, your lender assesses your full mortgage application and values the property, and your surveyor checks its condition for you.
The lender's valuation protects the lender, not you. A survey is your own check on the home's condition, and it is what gives you grounds to renegotiate if something serious turns up.
Step 5: Searches, enquiries and your mortgage offer
Your conveyancer orders searches with the council and other bodies, reviews the seller's paperwork and raises enquiries about anything unclear. Meanwhile your lender issues your formal mortgage offer.
This is usually the longest stage. Answer your conveyancer's questions quickly, keep a written note of every update, and chase with specific questions rather than general ones.
Step 6: Exchange contracts
When the legal work is finished, your mortgage offer is in place and everyone agrees a completion date, contracts are exchanged. From that moment the purchase is legally binding, and you usually pay your deposit.
Before exchange, read your conveyancer's report on the property, make sure every question you raised has been answered in writing, and arrange buildings insurance to start from exchange if your contract makes you responsible for the property from then.
Step 7: Complete and collect the keys
On completion day your lender sends the money to your conveyancer, who pays the seller's conveyancer. Once the funds arrive, the estate agent releases the keys.
Check your completion statement line by line against your original quote before the day, and never send money to new bank details received by email without phoning your conveyancer on a number you already know.
Step by step
- 1
Save a deposit and budget for costs
Usually at least 5% of the price, plus money for fees, surveys and moving.
- 2
Get an agreement in principle
Find out what a lender might lend you before you start viewing.
- 3
Find a home and make an offer
Offer through the estate agent, with proof of your deposit ready.
- 4
Instruct a conveyancer
Choose a firm on your lender's panel and get a full written quote.
- 5
Apply for your mortgage and book a survey
The lender values the home; your survey checks its condition for you.
- 6
Searches and enquiries
Your conveyancer checks the paperwork and gets your questions answered.
- 7
Exchange contracts
The purchase becomes legally binding and you pay your deposit.
- 8
Complete and collect the keys
The money transfers and the home is yours.
Key takeaway
Buying your first home follows a predictable path: deposit, agreement in principle, offer, conveyancing, exchange and completion. Nothing is binding until exchange, so use the time before it to get every question answered in writing.
Frequently asked questions
How long does it take to buy your first home?
From accepted offer to completion commonly takes two to four months in England. Finding the right home beforehand can take anything from weeks to many months. Buying with no chain above you can help, but no timescale is guaranteed.
How much deposit do first-time buyers need?
Most lenders need at least 5% of the price, and a larger deposit usually means a better interest rate. Remember to budget separately for legal fees, searches, a survey, mortgage fees and moving costs.
Do first-time buyers pay stamp duty?
At current rates, first-time buyers in England pay no stamp duty on homes up to £300,000, and 5% on the portion between £300,001 and £500,000. Above £500,000 the relief does not apply. Check GOV.UK for the latest rates.
Do I need a solicitor to buy a house?
You need a conveyancer, which can be a solicitor or a licensed conveyancer. If you are buying with a mortgage, your lender will also need the firm to be on its approved panel.
Stage tracker
MyMoveMate follows this same journey stage by stage, with a checklist and the questions to ask your broker, conveyancer, surveyor and estate agent at each point.
14-day free trial, then a single one-off payment of £49 for the whole move. It is not a recurring subscription.
Start your free trial