From saving to getting the keys — your complete UK buying journey
10 stages. Plain English. Everything you need to know before you buy your first home in England.
15 minute guide
1
Financial Prep
1–6 months
2
Mortgage in Principle
1–3 days
3
House Hunting
Weeks–months
4
Making an Offer
Days
5
Solicitor & Application
1–3 weeks
6
Surveys & Searches
2–6 weeks
7
Mortgage Offer
1–2 weeks
8
Exchange
1 day
9
Completion
1 day
10
After Completion
Ongoing
Most buyers go from "start saving" to "keys in hand" in 6–18 months
01
Financial Preparation
1–6 months
What you need to know
Your deposit amount
Typically 5–20% of the property price. Higher = better mortgage rates.
Your affordability
Most lenders cap at 4.5× single income or 4.0× joint income.
Your credit score
Check Experian, Equifax and TransUnion. All three offer free checks.
Monthly budget
What's left after rent, bills, debts, food and lifestyle.
Typical upfront costs
Item
Typical cost
Notes
Deposit
5–20% of price
Higher deposit = better rates
Solicitor / conveyancer
£1,000–£2,500
Shop around — prices vary
Survey
£400–£1,500
Do not skip this
Mortgage arrangement fee
£0–£2,000
Can often be added to mortgage
Moving costs
£300–£2,000
Depends on distance & volume
Stamp duty
£0 for most FTBs
£0 on properties up to £425k
Documents you will need
Passport or driving licence (ID)
Payslips — last 3–6 months
Bank statements — last 3–6 months
Proof of deposit (savings statements)
P60 (last tax year)
If self-employed: SA302 tax returns (2–3 years) and certified accounts
Key actions
01Check your credit report at all three bureaus (Experian, Equifax, TransUnion — all free).
02Avoid taking on new debt or finance in the 6 months before applying.
03Save bank statements — lenders want to see regular saving behaviour.
04Build a consistent proof of income trail.
Ready to work out your numbers?
02
Mortgage in Principle
1–3 days
What it is
A Mortgage in Principle (also called Agreement in Principle or Decision in Principle) is a statement from a lender saying: "Based on basic checks, we may lend you up to £X."It is not a formal mortgage offer — but estate agents take you more seriously when you have one.
It is not binding
Neither you nor the lender are committed at this stage. It is simply an indication.
Soft vs hard credit check
Some lenders do a soft check (no impact). Others do a hard check (leaves a mark). Always ask first.
Valid for 60–90 days
Most AIPs expire after 60–90 days. Renew if your house hunt takes longer.
Key actions
01Speak to a whole-of-market mortgage broker (they search all lenders, not just one bank).
02Compare interest rates AND fees — the lowest rate is not always the cheapest deal.
03Get your AIP before viewing properties — agents and sellers prefer AIP-backed buyers.
Compare two mortgage deals side by side
03
House Hunting
Weeks to months
What to check on every property
Location & lifestyle
Transport links and commute time
Local schools (if relevant)
Supermarkets and amenities nearby
Regeneration plans for the area
Crime statistics (police.uk)
Future development (council planning portal)
The property itself
Leasehold or freehold? (freehold preferred for houses)
If leasehold: years left on lease (under 80 = problem)
Annual service charge amount
Ground rent (should be zero on new leases)
EPC rating (A–C best; F–G needs investment)
Flood risk (environment.data.gov.uk)
Broadband and mobile signal
Age of boiler and roof
Key actions
01View at least 5–10 properties before making any offer — calibrate your eye.
02Visit at different times of day — morning and evening feel different.
03Check sold prices of comparable properties nearby on Rightmove and Zoopla.
04Ask the seller why they are moving — the answer can reveal a lot.
05Ask about the neighbours and the building management company (for flats).
Useful resources
Rightmove
Property search and sold prices
Zoopla
Valuations and price history
HM Land Registry
Official sold prices
StreetCheck
Area demographics
EPC Register
Energy performance certificates
04
Making an Offer
Days to 1 week
How offers work
You make your offer through the estate agent — verbally first, then confirmed in writing. The estate agent is legally obliged to pass on all offers to the seller.
Possible outcomes
Accepted
Congratulations. Move to Stage 5 immediately — do not delay instructing your solicitor.
Rejected
The seller wants more. You can counter-offer or walk away.
Negotiation
Common. Come back with evidence: comparable sold prices, viewing issues, your strong position.
After acceptance
The property is now Sold Subject to Contract (SSTC). NOTHING IS LEGALLY BINDING YET. Either party can still pull out without legal penalty until exchange of contracts. This is known as gazumping (seller accepts higher offer) or gazundering (buyer drops offer last minute). Both are legal but unethical.
Offer tips
01Use comparable sold prices to justify your offer — not just the asking price.
02A below-asking offer is normal for properties on the market over 6–8 weeks.
03Your chain position matters: no chain (FTB renting) is very attractive to sellers.
04Never reveal your maximum budget to the estate agent — they work for the seller.
05
Solicitor & Full Application
1–3 weeks
Two things happen simultaneously
Your solicitor
A solicitor or licensed conveyancer handles the legal side of your purchase.
Conducts property searches
Checks the title deeds
Reviews the contract from the seller's solicitor
Handles the transfer of funds
Registers your ownership at Land Registry
Use a Law Society-registered conveyancer. Your broker may have a recommended panel — you are not obliged to use them but it can speed things up.
Your mortgage application
Your lender now conducts a full assessment.
Full affordability check using your documents
Commissions a valuation of the property (for them, not you — get your own survey too)
Underwriting: verifies all income, employment, credit
What slows this down
Missing or incorrect documents
Discrepancies between application and bank statements
Employer unable to verify employment quickly
Lender backlog
Key actions
01Instruct your solicitor within 24–48 hours of offer acceptance — do not delay.
02Submit all documents to your mortgage broker/lender within 48 hours of request.
03Do NOT change jobs, take on new credit, or make large unexplained transfers during this period.
06
Surveys & Searches
2–6 weeks
Survey types
Level 1
Condition Report
£300–£500
Very basic traffic-light summary only.
For: New-build properties only.
Not recommended for most purchases
Level 2
HomeBuyer Report
£400–£1,000
Thorough inspection of accessible areas. Flags issues that need attention.
For: Most standard properties built after 1930.
Recommended for most FTB purchases
Level 3
Full Structural Survey
£600–£1,500
Comprehensive structural inspection. Invasive checks where possible. Detailed written report.
For: Old (pre-1920), unusual construction, or major-work properties.
Essential for older or unusual properties
The lender's valuation is NOT a survey. It is a basic check that the property is worth what they are lending on. It does not protect you. Always commission your own independent survey.
Why it matters: Reveals if the property has unpermitted extensions or sits on a proposed road scheme.
Water & Drainage Search
What: Confirms public sewer locations and water supply.
Why it matters: Identifies if a sewer runs under the garden (affects building rights).
Environmental Search
What: Contaminated land, flooding, subsidence, mining history.
Why it matters: Affects insurability and value.
Optional Searches
What: Flood risk, chancel repair, tin mining, coal mining.
Why it matters: Depending on location.
If problems are found
Renegotiate the price
Use findings to reduce your offer.
Request seller fixes
Ask for work before completion.
Walk away
Some issues are deal-breakers: short lease, severe structural, major flood risk.
07
Mortgage Offer Issued
1–2 weeks
The lender formally confirms in writing that they will lend you £X on this property at the agreed rate and terms. This is the formal mortgage offer — different from the AIP you got earlier.
What to check on your offer
A mortgage offer is not a guarantee of funds until completion. Lenders can withdraw in extreme circumstances (job loss, new debt, significant property damage). Do not make any major financial changes between offer and completion.
08
Exchange of Contracts
The legal commitment
Big moment
Exchange of contracts is the most significant legal moment in your property purchase. Once exchanged, the sale is legally binding on both parties. You cannot pull out without losing your deposit.
What happens on exchange
01Both solicitors confirm all searches are complete, contracts agreed, mortgage offer in place.
02You sign the contract (usually done in advance).
03Your solicitor transfers your deposit to the seller's solicitor.
04Contracts are formally exchanged — usually over the phone between solicitors.
05Completion date is legally fixed.
Your deposit at exchange
Your deposit (typically 10% of purchase price at exchange) is now transferred to the seller's solicitor and held in their client account.
If you pull out after exchange: you lose your deposit.
If the seller pulls out after exchange: you can sue for losses.
Between exchange and completion
Exchange to completion is usually 1–4 weeks, agreed between both parties. Some buyers exchange and complete on the same day (more stressful, less common).
09
Completion Day — Getting the Keys 🎉
1 day
What happens — step by step
01Your mortgage lender releases the funds to your solicitor.
02Your solicitor sends the full purchase amount to the seller's solicitor.
03Seller's solicitor confirms receipt and authorises release of keys.
04Estate agent receives confirmation and calls you to collect the keys.
05You collect the keys.
Your solicitor will call you when completion has happened. Do not go to the estate agent to collect keys until you have received this call — occasionally there are morning delays.
Practical on the day
Your solicitor registers your ownership with HM Land Registry in the days/weeks after completion. You don't need to do anything — you'll receive your Title Register in due course.
10
After Completion — You Own It Now
Ongoing
Immediate actions (first 48 hours)
First week
First month
Set a reminder to remortgage 3 months before your initial deal ends. When your deal ends, you'll revert to your lender's Standard Variable Rate (SVR), which is usually significantly higher.
Track your mortgage and plan your remortgage
Timeline summary
Stage
Description
Typical time
01
Financial Prep
1–6 months
02
Mortgage in Principle
1–3 days
03
House Hunting
Weeks–months
04
Making an Offer
Days
05
Solicitor & Application
1–3 weeks
06
Surveys & Searches
2–6 weeks
07
Mortgage Offer
1–2 weeks
08
Exchange
1 day
09
Completion
1 day
10
After Completion
Ongoing
Most buyers go from starting to save to holding the keys in 6–18 months.
Track your own journey
Create a free account to mark each stage and persist your document checklist across devices.
Ready to run your numbers?
Use our free calculators to work out your affordability, deposit target, and total buying costs.