Your first step on the ladder: A complete guide to buying your first home
Buying a home for the first time is one of the largest financial decisions most people make. The process involves several distinct stages, each with its own requirements and timescales, and it helps to understand how they connect before you begin. This guide walks through the key steps from initial preparation through to moving day.
Work out what you can afford
Before browsing any listings, the most useful starting point is understanding your budget. This means looking at your income, your regular outgoings, any existing debt, and your savings. The figure you can borrow from a lender depends on a combination of these factors, and lenders will assess your finances in detail as part of the mortgage application. Starting with a clear picture of your own position helps you search within a realistic price range from the outset.
Save for a deposit
A deposit is the amount you contribute toward the purchase price, with the mortgage covering the rest. Most lenders ask for a minimum of five per cent of the property price, though a larger deposit typically gives access to a wider range of mortgage products and often better rates. If you are saving for a deposit, a Lifetime ISA is worth considering: the account must be opened before the age of 40 and allows you to save toward a first home with a government contribution toward what you put in, subject to qualifying conditions.
Get a mortgage in principle
A mortgage in principle, also called a decision in principle or agreement in principle, is a conditional statement from a lender confirming how much they may be willing to lend based on an initial assessment of your finances. It is not a formal mortgage offer, but it gives you a clear borrowing figure to search around and shows sellers that you are a financially prepared buyer. Obtaining a mortgage in principle before you begin searching for properties is consistently recommended by property guides as a key early step.
Search for a property
Most buyers begin their property search on Rightmove and Zoopla, where the majority of homes currently for sale are listed. Setting up alerts for your specific criteria means you see new listings as soon as they appear. Alongside portal searches, registering with local estate agents puts you in contact with agents who may be aware of properties before they go online.
When viewing properties, it is worth viewing any property of interest more than once and at different times of day to get a full picture of the home and the surrounding area.
Make an offer and instruct a solicitor
Once you find a property you would like to buy, you submit an offer through the estate agent. An offer is not legally binding until contracts are exchanged. If your offer is accepted, you should instruct a solicitor or licensed conveyancer to handle the legal work.
Surveys and conveyancing
Your conveyancer will carry out searches, raise enquiries about the property, and manage the process of transferring legal ownership. A survey carried out by a qualified surveyor, separate from the mortgage lender's valuation, gives you an independent assessment of the property's condition and highlights any issues that may affect the purchase.
Exchange and completion
Exchange of contracts is the point at which the purchase becomes legally binding. Both parties sign identical contracts and a completion date is set. On completion day, the remaining funds transfer between solicitors and the keys are released.
Government schemes
Several government schemes are available to help first-time buyers in England, including Shared Ownership, the First Homes scheme, and the Mortgage Guarantee Scheme, which is now permanent and supports purchases with a five per cent deposit. Help to Buy Wales closed to new applications on 30 September 2026 and is no longer available. Current eligibility conditions and availability for all active schemes can be checked at gov.uk or through Rightmove's first-time buyer schemes guide.
Talk to our team about buying your first home
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