​​​Everything you need from deposit to keys

 

Buying your first home can feel overwhelming, but breaking it down into steps makes it easier.

Here’s what you’ll need to think about, from saving your deposit to picking up your keys.

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✅ 1. Saving Your Deposit

• How much do you need?

  • Usually at least 5–10% of the property price (the more you save, the better the mortgage deals available).

• Top tip: Don’t forget you’ll also need money for fees and moving costs.

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✅ 2. Budgeting for Extra Costs

• Mortgage arrangement fees (often £0–£1,000).

• Valuation/survey fees (£250–£1,000+).

• Solicitor/conveyancing fees (£800–£1,500).

• Stamp Duty (first-time buyers may get relief — check current thresholds).

• Moving costs (removals/van hire).

• Insurance (buildings insurance is usually required by lenders).

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✅ 3. Getting Mortgage Ready

• Check your credit score (fix errors, clear debts if possible).

• Get your documents together:

  • Proof of ID (passport or driving licence).

  • Proof of address (utility bills, council tax).

  • Proof of income (last 3 months’ payslips, P60, or tax returns if self-employed).

  • Bank statements (usually last 3 months).

• Agreement in Principle (AIP).

  • A quick check with a lender or advisor that shows how much you could borrow.

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✅ 4. Finding Your Home

• Research areas, transport, schools, amenities.

• View multiple properties — don’t rush.

• Ask about service charges/ground rent (for flats).

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✅ 5. Making an Offer

• Decide on your budget (don’t overstretch).

• Make an offer through the estate agent.

• Once accepted, you can formally apply for your mortgage.

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✅ 6. Applying for Your Mortgage

• Work with your mortgage advisor to find the best deal.

• Submit your documents.

• The lender will arrange a valuation survey of the property.

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✅ 7. Legal & Conveyancing

• Your solicitor handles searches, contracts and liaises with the seller’s solicitor.

• They’ll guide you through paperwork and check everything is legally sound.

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✅ 8. Exchange & Completion

• Exchange: You pay your deposit (usually 10%) and sign contracts.

• Completion: The remaining money is transferred and you collect your keys 🎉.

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✅ 9. After You Move In

• Set up utilities, broadband and council tax.

• Arrange contents insurance.

• Keep in touch with your advisor for regular mortgage reviews.

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✨ With the right preparation, buying your first home can be exciting instead of stressful!

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