What Do I Need to Know Before Buying My First Home in the UK

Buying your first home is an exciting milestone, but it can also feel overwhelming. From saving for a deposit to navigating mortgages and legal processes, there’s a lot to consider. If you’re preparing to enter the UK property market, here’s what you need to know before taking the plunge.

1. Understand Your Budget

Before you start house hunting, determine how much you can afford. Key costs include:

Deposit (typically 5%–20% of the property price)

Mortgage repayments (use online calculators to estimate costs)

Stamp Duty (first-time buyers pay no Stamp Duty on properties up to £425,000)

Legal fees, surveys, and moving costs (budget an extra £2,000–£5,000)

2. Check Your Credit Score

A good credit score improves your mortgage approval chances. Check your report for errors and avoid new credit applications before applying for a mortgage.

3. Get a Mortgage Agreement in Principle (AIP)

An AIP from a lender shows sellers you’re a serious buyer and helps narrow your property search to homes within your budget.

4. Research the Right Location

Consider:

Commute times

Local schools (if relevant)

Future property value growth

Crime rates and amenities

Popular first-time buyer areas include Manchester, Birmingham, Leeds, and outer London boroughs where affordability is better.

5. Factor in Hidden Costs

Beyond the purchase price, remember:

Conveyancing fees (£1,000–£2,500)

Survey costs (£400–£1,500)

Removal fees (£300–£1,500)

Home insurance & maintenance

6. Choose the Right Mortgage

First-time buyers can access:

Fixed-rate mortgages (stable payments for 2–5 years)

Help to Buy schemes (if eligible)

Shared Ownership (buy a portion of the property)

7. Make a Competitive Offer

Once you find a home:

Research local sold prices

Be prepared to negotiate

Move quickly in competitive markets

8. Complete the Legal Process

Your solicitor handles:

Local searches

Contracts & Land Registry

Finalizing the sale

Final Tips for First-Time Buyers

✅ Save early – The bigger your deposit, the better your mortgage deals.

✅ Get independent mortgage advice – A broker can find the best rates.

✅ Be patient – The process can take 3–6 months.

✅ Don’t skip the survey – Avoid costly surprises later.