The Step-by-Step Guide to Buying Your First Property in the UK

Buying your first home in the UK can be a daunting process — full of unfamiliar terms, legal steps, and financial commitments. But with the right knowledge and planning, you can confidently navigate the property ladder. This guide walks you through each key step from saving your deposit to finally picking up the keys.

1. Save for a Deposit

Most mortgage lenders require at least 5–10% of the property’s purchase price as a deposit. The more you save, the better your mortgage deals will be. Explore Lifetime ISAs — they offer a 25% government bonus on your savings (up to £1,000 per year).

2. Check Your Credit Score

Lenders look at your credit history to determine how risky it is to lend you money. You can check your score using services like Experian, Equifax, or Credit Karma. Pay down existing debts, avoid new loans, and stay registered on the electoral roll.

3. Get a Mortgage in Principle

A mortgage in principle (MIP) shows sellers and estate agents that you’re a serious buyer. It’s a statement from a lender confirming how much they’d be willing to lend you, based on your income and credit rating.

4. Start House Hunting

Use platforms like Rightmove, Zoopla, and OnTheMarket to browse properties in your area. Make a list of essentials — location, number of bedrooms, garden, parking, transport — and go to multiple viewings.

5. Make an Offer and Instruct a Solicitor

Once you’ve found the one, make an offer through the estate agent. If it’s accepted, you’ll need to instruct a conveyancer or solicitor to handle the legal side, including contracts and local searches.

6. Apply for Your Mortgage

Now that you have a property agreed, apply for the full mortgage. The lender will carry out a valuation, affordability checks, and request documents (e.g. payslips, bank statements). This can take 2–4 weeks.

7. Exchange Contracts and Complete

Once your mortgage is approved and all legal checks are complete, you’ll exchange contracts with the seller and pay your deposit. Completion usually follows a few days later — and that’s when you get the keys!

Additional Costs to Budget For

Don’t forget about stamp duty (if applicable), legal fees, survey costs, and removal expenses. These can add thousands to your upfront cost, so factor them into your budget.

Help from The Krowd

Whether you need support understanding legal terms, checking EPC ratings, or finding surveyors — The Krowd is here to help first-time buyers feel confident and connected. Buying a home is a journey — and you don’t have to go it alone.