First-Time Buyer Checklist UK 2026: Every Step from Saving to Keys

Stage 1: Get Your Finances Ready

Before you start viewing properties, know how much you can borrow. Get a mortgage in principle (also called an agreement in principle) from a lender or mortgage broker — this is a preliminary check based on your income, outgoings, and credit history. It typically costs nothing and takes 15–30 minutes online.

Save for a deposit (typically 5–20% of the purchase price), plus buying costs: solicitor fees, survey, mortgage fees, and moving costs. On a £250,000 property with a 10% deposit, budget at least £30,000–£35,000 total. Check if you qualify for a Lifetime ISA bonus (25% government top-up on savings up to £4,000/year for first-time buyers under 40).

• ►Check your credit report: Review your Experian, Equifax, and TransUnion reports for errors. Even small mistakes can affect mortgage applications.
• ►Reduce outstanding debt: Lenders assess affordability including existing debts. Paying down credit cards and loans improves your borrowing capacity.
• ►Save bank statements: Most lenders want 3 months of bank statements. Avoid gambling transactions and irregular large transfers during this period.
• ►Get mortgage in principle: This shows sellers and agents you're a serious buyer. It's not a guarantee but it's essential before making offers.

Stage 2: Find and Research Properties

Start on Rightmove, Zoopla, and OnTheMarket — these are the three main UK property portals. Set up alerts for your criteria and don't just look at the photos: read the listing description carefully for coded language ('in need of modernisation' means requires significant work, 'cosy' means small, 'characterful' often means old systems).

Research the area before viewing: check crime data, flood risk, school catchments, council tax bands, broadband speeds, and transport links. All of this data is available free through our area pages and free tools. Or paste any listing URL into HomeThink for an instant AI analysis covering all of these factors.

Stage 3: Make an Offer and Instruct Professionals

When you find a property, make an offer through the estate agent. Offers below asking price are common — 5–10% below is a reasonable starting point in most markets, though competitive areas may require at or above asking. Your offer is not legally binding until exchange of contracts.

Once your offer is accepted, instruct a solicitor (get quotes from 3 providers), apply for your full mortgage, and commission a survey. All three can proceed in parallel. Your solicitor will request a legal pack from the seller's solicitor and begin searches.

Stage 4: Exchange and Completion

Exchange of contracts is the point of no return — after exchange, pulling out costs you the deposit (typically 10% of the purchase price). Your solicitor will confirm the completion date (usually 1–4 weeks after exchange), and you must have buildings insurance in place from exchange.

On completion day, your solicitor transfers the purchase funds, the seller's solicitor confirms receipt, and the estate agent releases the keys. You're now a homeowner. Register with the council for council tax, set up utilities, and redirect your post.

First-Time Buyer Stamp Duty Relief

From April 2025, first-time buyers in England and Northern Ireland pay no stamp duty on the first £300,000 of properties up to £500,000. Above £300,000 (up to £500,000), you pay 5% on the excess. Properties above £500,000 don't qualify for first-time buyer relief — standard rates apply.

Scotland offers LBTT relief for first-time buyers up to £175,000. Wales offers no specific first-time buyer relief for LTT. Use our stamp duty calculator to get exact figures for your purchase.