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Buying Your First Home

Hard 20 items · 2 hours
testuser's avatar
testuser Published 1 month ago
Lifestyle

A practical step-by-step checklist for first-time buyers preparing to purchase their first property. Covers deposit targets, mortgage steps, solicitor/conveyancer work, surveys, exchange, completion day, and utility transfers.

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  1. Set deposit target and savings timeline — Aim for 5–20% deposit plus a buffer for fees and emergencies.
  2. Calculate all upfront purchase costs — Include stamp duty, solicitor fees, surveys, valuation, and moving costs.
  3. Check and correct your credit report — Use major credit agencies and fix errors to improve mortgage chances.
  4. Get a mortgage in principle (agreement in principle) — Provides an estimated loan amount and strengthens your offer.
  5. Gather mortgage documents (ID, payslips, statements) — Collect 3–6 months bank statements, recent payslips, and photo ID.
  6. Research and appoint a solicitor or conveyancer — Obtain quotes, check reviews, and confirm turnaround times.
  7. Book a property survey and choose the survey type — Decide between condition report, homebuyer report, or full structural survey.
  8. Make a formal offer and negotiate price and fixtures — Include proposed completion timeline and any fixtures to remain.
  9. Instruct your solicitor to start searches and prepare contracts — Ask them to order local authority, drainage, and other required searches.
  10. Review survey and valuation reports and decide next steps — Look for structural issues; consider renegotiation or additional inspections.
  11. Submit full mortgage application with lender — Provide lender with survey, solicitor details, and requested documents.
  12. Review and sign contracts; agree completion date — Check special conditions, completion timing, and who pays which fees.
  13. Exchange contracts and transfer the agreed deposit — Deposit (commonly 5–10%) is usually paid via solicitor at exchange.
  14. Arrange buildings insurance to start from exchange/completion — Lenders often require buildings cover from exchange; compare policies.
  15. Confirm completion logistics and book movers — Book removal company, reserve parking, and schedule meter readings.
  16. Confirm mortgage funds transfer and completion payment with solicitor — Ask your solicitor to confirm cleared funds and final balances.
  17. Collect keys and inspect the property on completion — Do a final walkthrough, note issues, and record meter readings.
  18. Start utility transfers and set up new supplier accounts — Contact energy, water, internet, and gas suppliers with move date.
  19. Set up direct debits and provide meter readings to suppliers — Give accurate meter numbers to avoid estimated bills.
  20. Redirect mail and update your address across accounts — Use postal redirect and update banks, council tax, DVLA, and subscriptions.
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