Step 1: Work out what you can afford

Before you look at a single property, you need a realistic picture of your finances. Most UK lenders will let you borrow between 4 and 4.5 times your annual income — though some will go higher depending on your circumstances.

Beyond the mortgage itself, factor in these upfront costs:

• Deposit — typically 5%–20% of the purchase price
• Stamp Duty Land Tax (SDLT) — first-time buyers are exempt on properties up to £425,000
• Solicitor / conveyancer fees — usually £1,000–£2,500
• Survey costs — from £300 for a basic valuation to £1,500 for a full structural survey
• Mortgage arrangement fees — can be added to the loan but this increases the total interest paid
• Buildings and contents insurance — required by your lender from exchange of contracts

Step 2: Save your deposit

The larger your deposit, the better interest rate you will generally access. Lenders price mortgages in “loan-to-value” (LTV) bands — for example, a 10% deposit gives you a 90% LTV mortgage, which attracts a higher rate than a 25% deposit (75% LTV).

Lifetime ISA (LISA): If you are between 18–39 and have not previously owned a home, a Lifetime ISA lets you save up to £4,000 per tax year and receive a 25% government bonus (up to £1,000 per year). The funds can be used towards a property worth up to £450,000.

Step 3: Get a mortgage Agreement in Principle (AIP)

An Agreement in Principle — sometimes called a Decision in Principle or Mortgage in Principle — is a conditional indication from a lender that they would be prepared to lend you a certain amount, based on a soft credit check.

Most estate agents will ask to see your AIP before accepting an offer. It demonstrates you are a serious buyer and speeds up the purchasing process.

Step 4: Find your property and make an offer

With your AIP in hand, you can search with confidence. When you find the right property, making a well-informed offer is key:

• Research sold prices on Rightmove or Zoopla for similar properties on the same street
• Consider how long the property has been on the market — a stale listing gives you more negotiating power
• Check the seller's chain position — is it chain-free? That reduces risk considerably
• Ask about the boiler age, roof condition, and any recent works — before you offer

Step 5: Instruct a solicitor and apply for your mortgage

Once your offer is accepted, two things happen simultaneously: you formally apply for your mortgage and instruct a solicitor to handle the legal side (known as conveyancing).

Your solicitor will:

• Carry out searches (local authority, environmental, drainage) to check for any issues affecting the property
• Review the title deeds and raise enquiries with the seller's solicitor
• Report to you on the mortgage offer and any conditions attached
• Handle the exchange of contracts and the transfer of funds on completion

Your mortgage adviser will submit your full application to the lender, who will then commission a property valuation to confirm the property is suitable security for the loan.

Step 6: Exchange of contracts

Exchange of contracts is the point at which the sale becomes legally binding. On exchange, you pay your deposit (typically 10% — though your solicitor may negotiate a lower amount) and an agreed completion date is set.

Between exchange and completion, make sure you have your buildings insurance in place — most lenders require this from the date of exchange.

Step 7: Completion — pick up your keys

On completion day, your solicitor transfers the remaining funds (including your mortgage advance) to the seller's solicitor. Once received, the estate agent releases the keys and you are officially a homeowner.

Your solicitor will also register your ownership with HM Land Registry and pay any Stamp Duty due on your behalf.

Why use a mortgage adviser as a first-time buyer?

The UK mortgage market has over 100 lenders and thousands of products. As a first-time buyer, you may not know which lenders are most sympathetic to your credit history, income type, or deposit size — and going directly to your bank means you only see their products.

A whole-of-market adviser like Property Link Homes compares the entire market on your behalf, recommends the most suitable deal for your circumstances, and manages the entire application from start to finish — at no cost to you in most cases, as advisers are paid by the lender.

• Access to exclusive rates not available directly from lenders
• Expert guidance if you have complex income (self-employed, multiple jobs, bonuses)
• Support throughout — from AIP to completion
• Protection advice: life insurance and critical illness cover at the same time