5 mins read
2025-11-26
5 mins read
Welcome to the wild world of home ownership
So, you’ve outgrown the joy of housemates, your plants need more sunlight, and your “five minutes on Rightmove” has turned into a late-night ritual with tea in hand. Welcome to the thrilling (and occasionally nerve-shredding) journey of buying your first home in the UK.
This is a big step, and let’s be honest, the property market can feel like a mix between Monopoly and a blind date. You’ve got numbers to crunch, choices to make, and the occasional cryptic estate agent phrase to decode.
That’s why this guide blends practical steps (budgeting, mortgages, legal process) with lifestyle insights (choosing the right area, making a home that works for you), all in plain English. By the end, you’ll have a clear roadmap and know what to avoid, to turn your home-buying dream into front-door reality.
Before you fall in love with a house that costs more than your lifetime Netflix subscription, you need a clear understanding of your budget:
Before you fall in love with a house that costs more than your lifetime Netflix subscription, you need a clear understanding of your budget:
Before you fall in love with a house that costs more than your lifetime Netflix subscription, you need a clear understanding of your budget:
Before you fall in love with a house that costs more than your lifetime Netflix subscription, you need a clear understanding of your budget:
Before you fall in love with a house that costs more than your lifetime Netflix subscription, you need a clear understanding of your budget:
Before you fall in love with a house that costs more than your lifetime Netflix subscription, you need a clear understanding of your budget:
Before you fall in love with a house that costs more than your lifetime Netflix subscription, you need a clear understanding of your budget:
this is meant to be a quote
On a £265,000 property*, that’s £13,250 (5%) or £26,500-£53k (10-20%).
*average UK house prices in May 2025 according to the Gov.uk, Office for National Statistics and HM Land Registry.
• The magic number is at least 5% of the purchase price.
• If you can manage a 10-20% deposit, you’ll have access to better mortgage rates.
• On a £265,000 property*, that’s £13,250 (5%) or £26,500-£53k (10-20%).
*average UK house prices in May 2025 according to the Gov.uk, Office for National Statistics and HM Land Registry.
• Most lenders offer between 4 and 4.5 times your annual income.
• Joint applicants? Both incomes count.
• Reduce debts before applying — every credit card and loan counts against what you can borrow.
• Factor in regular expenses — lenders do.
• Use free services like ClearScore, Experian, or Credit Karma to check your credit score.
• Correct mistakes before applying for a mortgage.
• A healthy score means thousands saved in interest, as higher the score, lower the rates.
• Stamp Duty as a FTB is 0% up to £300k, 5% from £300,001-£500k (📝read more on Stamp Duty ).
• Solicitor fees are usually between £800 and £1,500.
• Survey costs can be anything from £325 to £1,750, depending on the type of survey and the number of bedrooms.
• Removal costs, although hard to determine (as dependent on how many items to transport, and how far to go), average for a 2-bedroom house is £1,300.
• New furniture and repairs, because that “move-in ready” home sometimes needs a new boiler or a lick of paint.
And a few extras:
• Arrangement fees (£0-£1,500).
• Valuation fees (£150-£500).
• Early repayment charges — these can bite if you plan to move or refinance soon.
⚙️Use our Moving Costs Calculator to see exactly how much to budget for moving.
Understanding mortgages is not for the faint of heart; it’s like another language, but here’s a quick decode:
• Fixed rate: The interest rate remains the same for the agreed term (usually 2 to 5 years). Great for budgeting, no surprises.
• Variable rate: Rate changes with the lender’s standard rate — sometimes cheaper, sometimes not.
• Tracker: The rate goes up or down according to the Bank of England base rate (and we all know how that goes).
Get an Agreement in Principle (AIP) before house-hunting. An AIP is a lender’s promise (subject to checks) that they’ll likely offer you a certain amount — this not only allows you to budget appropriately, but it’s your golden ticket to show sellers you’re serious about buying.
While the famous Help to Buy scheme has dried out, other options remain:
• Lifetime ISA (LISA): Save up to £4,000 per year and the government adds a 25% bonus. That’s £1,000 free money annually, which can be used towards your first home or retirement.
• First Homes Scheme: Certain new builds are sold at 30-50% below market value to local first-time buyers and key workers — you need to be eligible to apply.
• Shared Ownership: Buy 25-75% of a property and pay rent on the rest. You can buy more shares later (called “staircasing”).
When viewing properties, make sure you’re paying attention to the whole package and not just the styled home. Weigh your must-haves vs nice-to-haves; it’s impossible to tick everything from your dream wish list.
• Commute times & transport links: How long are you willing to travel?
• Amenities: Shops, schools, parks, gyms, and local markets.
• Noise: Visit at different times of the day. That peaceful street might turn into a racetrack after 6pm.
• Future potential: planned developments can add value.
• Check the boiler age and service history.
• Look for damp or mould (peeling wallpaper can be a clue).
• Test taps and light switches.
• Peek into the loft or cellar (seriously, insulation matters)
• Look at the EPC rating. A cold house is not cosy in February, no matter how instagrammable.
• Storage space (tiny cupboards aren’t a vibe).
• Neighbours — check noise levels.
• Research similar local sales, not just asking prices.
• Use your Agreement in Principle to back your offer.
• Be prepared to negotiate.
Hire a solicitor or licensed conveyancer to handle contracts and legal checks. Your solicitor will:
• Check the title deeds.
• Arrange local searches (flood risk, planning permissions, etc.).
• Liaise with the seller’s solicitor to handle contracts and transfer funds.
⚙️Use our Conveyancing Quote Comparison tool to compare conveyancer costs and review trusted conveyancers.
Surveys: the property health check
Types of surveys:
• Condition Report: basic, for newer homes.
• HomeBuyer’s Report: mid-level, for standard properties — popular option amongst home buyers.
• Complete Structural Survey: comprehensive report, best for older or unusual properties.
💡Get multiple quotes with our Surveyor Comparison tool before booking.
<H2> Exchange, completion & keys in hand
Exchange of contracts:
• You and the seller are now legally bound to the sale.
• You will need Building’s Insurance, as you’re now responsible for the property, which is required by most lenders.
• You’ll pay your deposit (at least 5%).
• Agree on a completion date.
💡We’ve partnered with Payment Shield to provide you with competitive market prices for your Building & Contents Insurance.
<H2> Moving day and settling in
Before moving:
• Book removals early. Use our Removals Quote tool to compare prices.
• Switch utilities into your name.
• Redirect your post via Royal Mail.
• Set up broadband — some providers need weeks’ notice.
First-week essentials:
• Kettle, mugs, tea, bottled water (non-negotiable).
• Toilet roll and cleaning supplies.
• Spare light bulbs and batteries.
• Takeaway menus (seriously, you’ll thank us later!).
<H2> Common mistakes First-Time Buyers make (and how to avoid them)
• Overstretching budget: Interest rates can change; your salary might not — leave a safety margin.
• Ignoring lease terms: A lease under 80 years can cause mortgage issues — some lenders go all the way to denying under 100 years.
• Skipping surveys: Any problems found after purchase = Your problem. What you don’t know will hurt you.
<H2> Your first home awaits
Buying your first home in the UK is a big commitment — financially, emotionally, and sometimes in terms of DIY skills you didn’t know you had. But with a solid budget, a realistic approach, and a healthy dash of patience, you’ll go from renter to homeowner without unnecessary drama.
So go ahead and start researching, get your Agreement in Principle, and remember, it’s not just about bricks and mortar, it’s about finding a place to call home.
<H2> FAQs
Q: How much deposit do I need to buy my first home in the UK?
Typically, 5-10% of the purchase price is required, though a larger deposit can result in better rates.
Q. Can I get a mortgage with a low credit score?
Yes, but expect higher rates and fewer lender options.
Q. Is shared ownership worth it?
It can be — especially in expensive areas — but don’t forget to factor in rent and service charges.
Q. What is the average time to buy a house in the UK?
Currently, it’s 8-12 weeks from offer to completion, but delays happen, and other factors may add to this timeframe. Be organised and in time with your documents; it helps.
Q. How does the Lifetime ISA bonus work?
You need a LISA account, which the government adds 25% to, up to £1,000 a year, that can then be used towards your first home or retirement.
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