Phase 1 — Before You Start Looking
Check your credit scoreUse Experian, Equifax or ClearScore (all free). Fix any errors before applying for a mortgage.
Calculate your maximum budgetMost lenders offer 4–4.5x your annual salary. Factor in all debts including student loans.
Open a Lifetime ISA (if eligible)Ages 18–39, saving for a property up to £450,000. Government adds 25% on up to £4,000/year.
Save your depositMinimum 5% of purchase price. 10% recommended for better rates and wider choice.
Budget for extra costs on top of depositStamp duty, solicitor, survey, mortgage fees, moving costs. Budget £3,000–£12,000 extra.
Calculate your stamp dutyUse our free calculator to know exactly what you'll owe.
Phase 2 — Getting Ready to Buy
Get a Mortgage in Principle (MIP)A written indication from a lender of how much they'd lend. Makes you a credible buyer to estate agents.
Choose a whole-of-market mortgage brokerA fee-free broker searches all lenders. Never go to just one bank without comparing the market.
Research your target areaCheck sold prices on Rightmove, school catchments, transport links, broadband speed (Ofcom checker).
Set up Rightmove and Zoopla alertsNew listings in popular areas go quickly. Alerts mean you see them within minutes of listing.
Phase 3 — Offer and Solicitor
View properties — visit twice at different timesMorning and evening visits reveal different things about noise, light, and neighbourhood.
Make an offer in writingConfirm your deposit size, MIP status, chain-free status, and desired timeline.
Get offer acceptance confirmed in writingAn estate agent's verbal confirmation is not binding — get it via email.
Instruct a solicitor or conveyancer immediatelyDon't use the estate agent's recommendation without getting at least two other quotes.
Submit full mortgage applicationYour broker handles this. Have payslips, bank statements, ID, and proof of deposit ready.
Phase 4 — Survey and Searches
Book a survey — do not skip thisRICS Level 2 (HomeBuyer) for standard properties. Level 3 (Building Survey) for older or unusual properties.
Review survey results with your solicitorIf issues are found, you can renegotiate, request repairs, or walk away.
Confirm searches are orderedLocal authority, water, environmental, drainage. Your solicitor orders these — confirm they're done.
Review formal mortgage offerCheck the rate, term, and conditions match what your broker agreed. Report any discrepancies immediately.
Check the lease (if buying leasehold)Confirm lease length (must be 80+ years), service charges, and ground rent terms.
Phase 5 — Exchange and Completion
Agree a completion dateCoordinate with your solicitor, seller, and any chain. Fridays are most common but often cause problems — midweek is safer.
Take out buildings insurance from exchange dayYou are legally responsible from exchange, not completion. Don't leave this until completion day.
Transfer 10% deposit to solicitor before exchangeThis must clear before exchange can happen. Allow 2–3 banking days.
Exchange contractsBoth parties sign. Sale is now legally binding. Completion date is confirmed.
Book removals companyBook early — good removals firms fill up quickly, especially around quarter dates.
Notify utilities and redirect postGas, electricity, water, broadband, bank, HMRC, DVLA, NHS, employer, pension.
Completion day — get the keysRemaining funds transfer, Land Registry records you as owner, you collect keys from the estate agent.
Take meter readings on day 1Gas, electricity, and water. Photograph them with timestamp. You're responsible from this moment.