>>it’s a big moment to step onto the property ladder, and while the whole process might look complicated at first glance, we’re right here with you to make it feel more straightforward.

This guide will walk you through everything you need to know about buying your first home. We’ll break down the process for you so that you’ll know exactly what to expect.

unlocking the door to your first home

receive qualified mortgage guidance

Our team of mortgage consultants are regulated by the Financial Conduct Authority (FCA) and are dedicated to finding the right mortgage solution for your specific circumstances. They will:

1. Search thousands of mortgage deals from our panel of selected lenders to find the right one for you.
2. Confirm your borrowing capacity and explain all costs involved.
3. Help you construct a suitable offer to try to save you money if your property purchase is for sale through another agent, and as long as we are not acting for the seller of the property.*
4. Guide you through the house-buying process.
5. Take care of all your mortgage and protection arrangements.

understanding what mortgages are

A mortgage is a loan that’s designed specifically for buying a home. The lender (usually a bank or a building society) provides you with the funds you need to purchase your property, and in return, you pay them back over time, including interest payments. You’ll agree on how long you’ll be making these payments for until everything is paid back (this is called your mortgage term).

To give you an overview, the process works like this:

• You select a property you wish to purchase.
• You contribute a deposit (a percentage of the property’s value).
• You take out a mortgage for the remaining amount (our mortgage consultants will assess your individual circumstances to arrange a mortgage with a lender from our panel).
• You repay the lender through monthly payments, including interest.

what to bring to your mortgage appointment

Your mortgage consultant will tell you exactly what you’ll need for your appointment, but as a general rule of thumb, you’ll typically need to bring these three documents:

• Your ID: You’ll need something to prove who you are, such as your driving licence or passport. Make sure it hasn’t expired.
• Your current address: Bring your council tax bill from this year, a recent utility bill, or a bank statement from the last three months. Make sure it’s addressed to you.
• Your proof of income: If you’re employed, bring your last three months’ payslips and your most recent P60. If you’re self-employed, your SA302 form will work.

the home buying process

1. meet with our mortgage consultant

Speak to one of our Mortgage Consultants who will help assess your affordability for a mortgage.

2. mortgage approval

We will search for an appropriate mortgage provider and find out how much they are prepared to lend to you in principle (subject to status and lender criteria).

3. your decisions

We will help you find your dream home and give you guidance on what offer to make if the property is for sale with another agent.

4. applying for mortgage and protection products

If your offer is accepted, we can help arrange your mortgage and discuss any protection needs you may have.

5. legal process

Most people use a conveyancer or solicitor when buying a house, as it can be a complicated process. We can help you appoint one, if you wish.

6. your lender will arrange a valuation

This is a requirement for your mortgage. Please note that having a survey done on the property would be in addition to this.

7. mortgage offer

If everything is in order, the mortgage offer will be made.

8. searches

9. exchange

From this point, the purchase is legally binding. (Note that Buildings and Contents Insurance must be put into force from this point.)

10. completion

The property is yours, and you can move in!

figuring out your budget

Before beginning your property search, it’s crucial to understand how much you can afford to borrow.

Lenders need to know much more about you than just your salary before deciding how much they’re willing to lend by way of a mortgage.

how does this work?

When applying for a mortgage, we can help you understand how much you could borrow and arrange a mortgage agreement in principle. This is a conditional approval from a lender, estimating how much they’re willing to lend you.

your affordability

Lenders assess your income, monthly outgoings, existing debts, and credit history. Typically, you can borrow around 4.5 to 5 times your income.

your deposit

Most properties require at least a 5% deposit. For example, a £200,000 home would need a minimum £10,000 deposit.

To help you determine your budget, chat to one of our mortgage consultants, as they’ll be able to help you work out your budget and find the right mortgage option.

support available for first-time buyers

If this is your first time buying a property, you’ve got several options available to help you (subject to change and individual lender criteria), such as the below:

• Delayed Start Mortgage: No mortgage repayments due for the first 3 months, helping manage other costs associated with moving.
• £5K Deposit Mortgage: Buy your first home with only a £5,000 deposit.
• Shared Ownership: Buy a share of your first home with help from the Government.
• Track Record Mortgage: Borrow up to 100% loan-to-value if you have a proven track record of paying rent for at least 12 months.
• Joint Borrower Sole Proprietor: Allows relatives to contribute to the mortgage payments without needing to be on the title deeds.
• Gifted deposit: Build your deposit with money gifted by a family member.
• Family Springboard: Get a 0% deposit mortgage with a helper’s savings as security. This is returned with interest after 5 years.

defining the different types of mortgages

There are various types of mortgages available, and your consultant will talk you through them to help you find the one that suits your circumstances best.

Here are the three main mortgage options:

• Fixed rate: Payments remain the same for a set period (typically two to five years).
• Variable rate (tracker rate mortgage): Monthly payments vary based on the Bank of England base rate (plus additional interest).
• Standard variable rate (a variable rate mortgage): Payments are set by your lender, usually based on the Bank of England rate plus additional interest.

valuations and surveys

Once your offer is accepted, the lender will require a basic mortgage valuation to confirm the property’s worth.

While lenders require a basic valuation to confirm the property’s worth, this is not a comprehensive survey.

We strongly recommend commissioning a detailed home survey to identify any potential issues with the property that could affect your purchase decision or require future investment.

what is a home survey?

While not mandatory, a house survey is highly recommended. A Home Survey is a thorough inspection of a property conducted by a qualified surveyor.

The resulting report provides valuable insights into the property’s condition, highlighting potential issues that could influence your purchase decision or require future investment.

It’s an essential tool for avoiding unexpected repair costs and understanding the true value of your potential new home.

We can help you choose which survey would suit you best and arrange it for you through our Survey and Valuation department.

conveyancing services

Conveyancing is the legal transfer of property from one person to another.

So that this process can run smoothly, the conveyancer you choose to instruct will not only take care of the main legal aspects of your property purchase, but also do the following:

• Prepare and check contracts.
• Communicate with the seller’s legal team.
• Conduct essential searches (local authority, Land Registry, environmental).
• Arrange Land Registry certification.
• Organise stamp duty payment (if applicable).
• Manage the exchange of contracts.
• Transfer funds.

A conveyancer will charge an additional fee for their services, and there are thousands based around the UK, so to avoid confusion and make the process as stress-free as possible, we can help you choose and appoint one.

how to ensure your investment is protected

As buying a property is a big investment, it’s wise to make sure you’ve got the right insurance and protection in place. Consider the following:

buildings cover

The mortgage lender will require you to have buildings insurance in place from the point you exchange contracts on a freehold property.

This steps in to cover the costs of repairing damage caused by sudden and unexpected emergencies, such as a burst pipe that floods a room, or structural damage caused by events like storms or fires. Buildings cover ensures your home is safe and habitable after such incidents.

Some buildings insurance policies include an element of accidental damage cover, but you may want to add additional cover for more protection.

contents cover

You might want to consider adding contents insurance to ensure your possessions are covered from the day you move in.

Contents insurance protects the belongings inside your home. This includes everything from furniture and appliances to personal items like clothing, electronics, and valuables.

For instance, if someone breaks in and steals your jewellery, this policy helps cover the cost of replacing or repairing those items. It essentially safeguards everything you would take with you if you moved house.

Both types of cover are designed to give you peace of mind, ensuring you’re not left out of pocket after unexpected events.

protecting you and your family

There is a range of options to help protect you and your family if you were to die or if ill-health forced you to take time off work.

Speak to our mortgage consultant about:

• Life insurance.
• Critical illness cover.
• Income protection.

preparing for the future

When you become a property owner, it’s an ideal time to create a Will. This ensures your property and assets are distributed according to your wishes, saving your loved ones from additional stress and unexpected costs.

Your mortgage consultant can put you in touch with the team at Redstone Wills, who are will-writing specialists and will be able to support you.

Information correct at time of publishing (11/02/2026).

Any fees payable will be explained in your initial no obligation appointment, before you choose whether to use our Mortgage Services.

Sources:

* Market Intelligence is a system supported by TwentyEA that accesses a range of information on specific properties, including the market status of each property (e.g, last listed, last transacted and time to sell). If your property purchase is for sale through another agent, and as long as we are not acting for the seller of the property, we can help construct a suitable offer.

MS/SEQ/8549/02.26