>>buying a house is exciting, but buying your first home is that little bit extra special. The journey to your first home can seem a little overwhelming, but don’t worry – we’ve helped thousands of first-time buyers through the process, so you’re in safe hands.

1. setting you on the right path 

talk to us 

When you’re ready to start searching for your first home, we’d love to help. Contact us to register as a first-time buyer, and we’ll use our expertise to do all we can to find your dream first home. 

where do you want to live? 

The area or neighbourhood you want to live in should be one of your first decisions. Even if you already have somewhere in mind and an idea of the kind of property you like, do some exploring and be open-minded.

what type of property? 

• Apartment, terraced, bungalow, detached or semi-detached? 
• New build or an older house? 
• How many bedrooms do you need? 
• How important is a garden/outdoor space?
• What about a driveway or garage?
• How much storage do you need?
• Do you need pace to work from home?

what to think about?

• Your daily commute and transport links 
• Do you need to be close to family?
• Does it work for your social life?
• Nearby schools 
• Local shops and leisure facilities

Think about what you really want in your first home. It needs to suit your current lifestyle, as well as your future plans.

You’ll get lots of paperwork throughout the journey to your first home, so have a folder to keep everything organised and close to hand in meetings and appointments. Create an electronic folder, too, so you can easily access any emails and digital paperwork.

freehold or leasehold?

Whatever style of property you buy, you’ll need to find out whether it’s freehold or leasehold. 

freehold

If you own the freehold, it means you own the property and the land the property stands on.

leasehold

You own the property, but only for a certain amount of time. Most flats are leasehold. It’s worth checking how long is left on the lease and if it’s possible to buy the freehold. 

2. how much can you afford to borrow?

Lenders need to know much more about you than just your salary before making a decision on how much they’re willing to lend by way of mortgage. The lender will look closely at your financial history and existing commitments before making a decision. This is done for every mortgage application.

Before you do anything else in your search for a home, speak to one of our Mortgage Consultants. We’ll take a look at your finances and advise you on mortgage options. Subject to status and lender criteria.

your deposit

Very few lenders require no deposit, so you may typically need to raise at least 5% of the value of the property to secure a mortgage with lenders. 

This means if you were buying a £200,000 home, you’d need to raise at least £10,000 before applying for a mortgage. However, if you raise a larger deposit, you might gain access to mortgage products with lower interest rates, which could potentially result in lower monthly repayments.

government help for first-time buyers

There are government initiatives designed to help first-time buyers get on the property ladder. Our Mortgage Consultants can talk you through them and see if your eligible. 

3. finding a place to call home

Now you have a better idea of the type of property, location and how much you can afford, it’s time to search for properties with us so we can arrange some viewings. 

We have a ‘help to find’ service, just tell us the type of property and location you’re looking for and we’ll do the searching for you - the local expertise we can offer can be priceless. 

Moving further afield? We can still help. We’re part of a national network of estate agents with a large UK property database we can use in the search for your frist home. 

open house events 

We can also let you know about upcoming open house events, where you’ll view a property at the same time as other interested house-hunters during a set timeframe on a certain day. 

tips on property viewings

Lots of people say they ‘just know’ it’s the right property the second they walk through the door. It’s a big decision involving lots of money, so, if you can, have someone with you to give a second opinion. 

You may not get all the information you need in one viewing, so it’s best to visit more than once if possible - and ideally at different times of the day and week. That way, you’ll get a better idea of the traffic and the neighbourhood. 

4. the legal side of buying 

Things could move quickly once you find the right property, so it’s a good idea to think about choosing a conveyancer now. When you have an offer accepted and proceed with your mortgage application, the next step is to finalise the legal details.

Conveyancing is the legal transfer of a property from one person to another. It includes all the legal work plus a variety of important searches and checks on the property. 

This is where we can help. Our Home Conveyancing service is an easy and affordable way of taking care of all your conveyancing needs in one place. Here are some of the benefits:

• Open 7 days a week and evenings too 
• No move, no legal fee
• Fixed price guarantee 
• Manage every aspect of your case securely online and by phone 
• No need to visit a conveyancer’s office 
• We aim to deliver a consistently faster legal service 

We can look after all the finer details for you and keep you up to date throughout the conveyancing process. We will: 

• Draw up checks and contracts 
• Raise enquiries with the opposing conveyancer 
• Carry out local searches (eg, local authority, land registry, water and environmental searches)
• Arrange land registry certification 
• Organise payment of stamp duty (if applicable)
• Manage exchange of contracts 
• Transfer monies

5. making an offer

You’ve found a property you could call home. Great!

how to make an offer 

Contact the seller’s estate agents with your offer, and follow it up with an email or letter confirming the offer amount. Let the agent know you’re a first-time buyer - it could help make your offer more desirable to the seller if you’re not involved in a chain. 

Don’t forget, if you’re using us to arrange your mortgage, we can submit your offer to the seller’s estate agent and negotiate on your behalf. As long as the property is for sale with another estate agent and we are not acting for the seller. 

Before you legally commit to the purchase, there will need to be a valuation as a minimum carried out on the property, so make sure your offer says it’s subject to survey and contract.

negotiations 

If you offer below the asking price or if there have been a number of offers already, the seller’s agent could come back to you with a counteroffer. In this case, it’s time to think about your maximum offer, and our Mortgage Consultants can help you with this. 

‘best and final offers’ and ‘sealed bids’

If there’s a lot of interest in the property, the seller's estate agent may recommend a ‘best and final offer’ or ‘sealed bids’ approach. In this situation, you’ll need to submit in writing an offer of the absolute maximum amount you’re willing ot spend before a set closing date. The seller will then choose which offer to accept, taking into account the financial position of each buyer. 

offer accepted

Once your offer is accepted, you’ll be asked for documents to confirm your ID/residence, and a money laundering check will be undertaken before the sale can then be formally confirmed in writing by way of a Memorandum of Sale. This is sent to you, the seller and the conveyancers confirming the sale has been agreed to you. When you receive this, you can proceed with your mortgage application, finalise your finances, and your conveyancer can commence the legal process. 

The seller will then usually agree to take down the online listing, and the sign outside the property will change from ‘For Sale’ to ‘Under Offer’ or ‘Sold Subject to Contract (SSTC). This means it’s sold in principle but subject to the final exchange of contracts.

6. the right mortgage for you

There are lots of different types of mortgage products available, and the right one for you depends on your circumstances. Subject to status and lender criteria. 

what we’ll do for you

• Search thousands of mortgage deals from our panel of selected lenders to find the right mortgage for you. Subject to status and lender criteria. 
• Confirm how much you may be able to borrow and all the costs involved. Subject to status and lender criteria. 
• Aim to save you money on the property you want to buy by negotiating with the seller. This only applies when the property is for sale with another estate agent and we do not act for the seller. 
• Explain the house-buying process and all the costs involved 
• Take care of all your mortgage and insurance arrangements, whether you buy through us or not. Subject to status and lender criteria. 

how to apply for a mortgage 

When you’ve found your dream first home, we can help you with your mortgage application to secure a mortgage offer. 

first things first!

The first step is to secure a decision in principle (DIP), also known as an agreement in principle (AIP). This confirms that a lender has checked your finances and is willing to lend you a certain amount, subject to certain conditions, including a valuation of the property. 

what you’ll require for a mortgage appointment

Please have available original documents of photo ID, income proof and address verification. Our Mortgage Consultant will advise you exactly which documents you need. 

If you’re making the application with other applicants (s), we’ll need to see these documents for all of you.

Once our Mortgage Consultant has recommended a mortgage based on your circumstances (subject to status and lender criteria), they’ll submit a full mortgage application to the lender with certified copies of your documents (to prove they have seen the originals), details of the property and the conveyancer you’re using to complete your purchase. 

The lender will process your application and arrange a basic mortgage valuation on the property. At this point, you may want to consider a survey upgrade for your own peace of mind (look at Section 8 for more details about surveys).

fees 

Although there are some mortgage products without fees, some do have costs. Our Mortgage Consultant will discuss these fees with you. Here are some fees you may incur to secure your mortgage with a lender: The total fees payable will depend on the lender

• Arrangement fee: paid to the lender for arranging your mortgage. 
• Booking or reservation fee: usually charged upfront, it reserves the mortgage you have been offered while your application is being processed.
• Valuation/survey fee: pays for the valuation/survey carried out on the property 
• Legal fees: costs incurred by your conveyancer for the legal work required for a mortgage.
• Broker fee: a one-off fee payable to us for lifetime membership to our mortgage services, which comes with many benefits. 
• Administration fee: payable to us for handling all the administration on your mortgage application.
• Stamp duty: this is a one-off fee that buyers have to pay the government on properties worth over a certain amount. In Scotland, stamp duty is called Land and Buildings Transaction Tax, and in Wales, it’s called the Welsh Land Transaction Tax. Depending on the property value, you may be exempt from stamp duty as a first-time buyer. We can tell you about this, or you can check the government website for current thresholds.

valuation and surveys 

Now you’ve had an offer accepted, it’s time to look more closely at the property to satisfy the mortgage lender, and for your own peace of mind too. 

The lender will require a basic mortgage valuation − a report that the mortgage lender will arrange themselves, which confirms the property is worth the money you’re asking to borrow. 

There are also three main surveys which you might want to consider:

• RICS Home Survey Level 2 (Survey Only) is a report suitable for conventional properties, built from common building materials and in reasonable condition. The focus of the report is on assessing the general condition of the main elements of the property 
• RICS Home Survey Level 2 (Survey and Valuation) is as above, but also includes the surveyor’s professional opinion on the ‘market value’ of the property and an insurance reinstatement figure 
• RICS Home Survey Level 3 is a report suitable for a larger, older or run-down property, a building that is unusual or significantly altered, or if you are planning major works. It provides detailed information about the structure and fabric of the property. 

We can help you choose which survey you’ll need for the property and arrange them for you either directly with the lender or through our own Survey and Valuation department.

9. mortgage offer 

Once the lender is satisfied with the results of the valuation report and the details you provided as part of the mortgage application, they will be in a position to issue a mortgage offer. A copy will be sent to you and your conveyancer, who will continue to work towards the exchange of contracts and completion.

10. the home stretch… 

exchange of contracts 

When the results of the valuation are complete, the legal searches are finished and a final sale price has been agreed, the conveyancers draw up a set of identical contracts for both you and the seller to sign and return. The contract outlines the sale price, what is to be included and an agreed date to complete the purchase. 

When the contracts are signed and returned to the conveyancers, both you and the seller are committed to complete the purchase on the agreed date. 

Your conveyancer will send you a statement outlining your deposit amount and the amount you’re borrowing as a mortgage. It will also contain an invoice for conveyancing services, which you pay before completion. 

insurance 

The mortgage lender will require you to have buildings insurance in place from the point you exchange contracts on a freehold property. Some buildings insurance policies have an element of accidental damage cover included, but you may want to add additional cover for more protection to the physical structure of your new home. 

You should consider adding contents insurance to be effective as soon as you start moving your possessions in. You can also add accidental damage cover to this. 

There are other insurance products you may also want to think about. Speak to our Mortgage Consultant about: 

• Life insurance 
• Critical illness 
• Income protection 

making a will 

If you haven’t made a will, buying a home is a really good reason to finally do it. Planning what happens to your money, possessions and property would save your loved ones additional stress, worry and cost at a difficult time. 

Our will-writing partner can provide a simple, straightforward service for your peace of mind. Just ask our Mortgage Consultant for details.

some final questions for the seller

You may want to ask the seller some questions about the property, ready for when you take ownership, such as:

• Where are the gas shut-off valve, water stopcock and fuse box? 
• Locations of gas, electricity and water meters? 
• Is there drain access or a manhole on the property? 
• How does the boiler/thermostat work? 
• Do they have all the user manuals and warranties you might need? If not, can you download copies? 
• When are the bins collected? (You can also find this on your local council’s website) 
• Could you visit the property again before completion to measure up for carpets, blinds, curtains and furniture? 

time to start packing 

Here are a few tips to help you plan your move: 

• Label boxes with their contents and the room they should go in 
• Wrap your breakables in bubble wrap, newspaper, or even towels and bedding to protect them 
• Keep an eye on the weight of boxes – don’t overpack them and spread heavier items between boxes. Lift with your knees and look after your back 
• Put screws, bolts and parts from disassembled furniture in sealable bags and tape them to the furniture 
• Keep important documents and phone numbers together and close by 
• Buy spare light bulbs just in case you need them

11. home and dry! 

completion 

It’s the day you’ve been waiting for… the day you become a homeowner and receive the keys for your new home. Congratulations! 

On your completion day, the transfer of the balance of the purchase money is paid by your conveyancer to the seller’s conveyancer and all the financial and legal work is concluded. The keys to your new property can then be released to you. Your conveyancer will also register the change of ownership with Land Registry.

All that’s left to do is arrange with us where to collect the keys from, and move into your new home!


A BROKER FEE MAY BE PAYABLE UPON MORTGAGE APPLICATION AS WELL AS AN ADMINSTRATION FEE. THE TOTAL FEE PAYABLE WILL DEPEND ON YOUR CIRCUMSTANCES. YOUR MORTGAGE CONSULTANT WILL EXPLAIN ANY FEES APPLICABLE IN YOUR INITIAL APPOINTMENT.

YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

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