Mortgages / Your first home
First-Time Buyers
From saving a deposit to getting the keys: understand the decisions before you make them.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Educational information, not a mortgage offer or confirmation of eligibility. Product availability and BuySure’s service scope require confirmation.
Your home-buying journey
From your first budget to your new front door
A typical route in England, Wales and Northern Ireland, not a timetable. Stages can overlap and lender approval is not assured. Scotland has a different legal process: speak to your solicitor early.
Work out your budget
Consider your deposit, monthly costs and the costs of buying.
Agreement in Principle
Where appropriate, seek an indication of borrowing. It is not a mortgage offer or guarantee.
Find a property
Look for a home that fits your needs and budget.
Make an offer
Agree a proposed price and discuss the next steps with the selling agent.
Submit your mortgage application
Provide the information and documents requested for the lender’s assessment.
Valuation / lender assessment
The lender assesses the property and your application. Its valuation is not a substitute for your own survey.
Solicitor / conveyancing
Your solicitor or conveyancer handles searches, checks and legal work. This can start earlier and run alongside the application.
Mortgage offer
Review the lender’s written offer, its conditions and any expiry date.
Exchange contracts
Your legal adviser confirms when you are ready to make the purchase legally binding.
Completion
Funds are transferred and ownership changes. Arrange key collection with the agent.
Illustrative information only. This does not constitute mortgage advice or a mortgage offer.
What does first-time buyer mean?
Broadly, someone buying their first home. Lenders and schemes can use different definitions, so previous ownership and your circumstances need checking. Do not assume a particular tax treatment or scheme applies.
Your deposit and the full purchase budget
Your deposit is the money you contribute towards the price. Keep a separate budget for legal work, surveys, moving and any applicable property tax. Ask which costs are due before completion and which are refundable.
Affordability and credit history
A lender considers income, spending, commitments and its own criteria—not just the size of your deposit. Check your credit records for errors and prepare a realistic household budget. An online illustration is not a lending decision.
Term, repayments and interest
The term is the time allowed to repay. A longer term can reduce monthly repayments but increase total interest. A repayment mortgage pays interest and reduces the loan; interest-only leaves the capital to repay separately. Fixed and variable rates behave differently, and fees also affect total cost.
Before an application
Discuss your plans, budget and documents. An agreement in principle is an indication, not a mortgage offer. Ask whether a credit search will be made. Avoid treating a property viewing budget as confirmed borrowing.
After an application
The lender assesses the application and property. Its valuation is not the same as a survey for you. Your conveyancer handles legal work; understand your commitments before exchange or the equivalent stage in your jurisdiction. Completion arrangements and timing vary.
Protect the new chapter
Consider your home, income and anyone who depends on you. Buildings cover and personal protection have different purposes. Explore the protection guides and discuss the right scope before arranging a policy.
Questions you may have
Can I get a mortgage with a small deposit?
Availability depends on the lender, property and your circumstances. This website does not confirm a minimum deposit or acceptance.
Is an agreement in principle final approval?
No. A full assessment and property checks are still needed. Ask about any conditions and credit searches.
What should I bring to a conversation?
A broad budget, income and commitments, deposit source and preferred timing. Do not upload or enter genuine supporting documents in this website.
Ready to explore your circumstances?
Your home may be repossessed if you do not keep up repayments on your mortgage.
Educational references: MoneyHelper: first-time buyer guide · Repayment options · Interest-rate options.