First-Time Buyer? Here’s How Buying Actually Works

Buying your first home can feel like a maze of jargon and waiting. Here’s the whole journey in plain English — from working out your budget to picking up the keys.

1. Get a mortgage in principle first

Before viewing anything, speak to a mortgage adviser and get an agreement in principle — a lender’s indication of what you can borrow. It makes your offers credible and tells you your true budget, including deposit, stamp duty (often £0 for first-time buyers under £300,000) and legal fees.

2. View, offer, negotiate

Once you find the right home, submit your offer through the estate agent along with proof of your position. Don’t be afraid to start below asking price — the agent must pass every offer to the seller. When accepted, the property is marked “sold subject to contract”.

3. Conveyancing and survey

Your solicitor checks the legal title, searches and contracts while your lender values the property. We strongly recommend your own RICS survey too — it can reveal issues that justify renegotiation, or the peace of mind that all is well.

4. Exchange and completion

Exchange of contracts is the point of no return — your deposit is committed and a completion date fixed. On completion day the money moves, and the keys are yours. From offer to completion typically takes 10–14 weeks.