First-time buyer checklist (UK)
Work through it in order: know your real budget, get a mortgage decision in principle, research homes before you offer, instruct a conveyancer, arrange a survey, then check the contract and mortgage offer before you exchange. In England eligible first-time buyers pay no Stamp Duty up to £300,000. Gov.uk says buying takes about five months on average.
Download the checklist (PDF)Step 1: Work out the real budget
The deposit is the big number, but it is not the only one. MoneyHelper says deposits typically need to be at least 5% to 20% of the price, and that fees can pass £5,000 on top of the deposit and tax. Its guide figures:
| Cost | Guide figure | When you pay |
|---|---|---|
| Deposit | At least 5% to 20% of the price | Part at exchange, the rest at completion |
| Legal work | Around £2,000 | Mostly at completion |
| Searches | £250 to £300 | Usually up front |
| Survey | £400 to £1,500 | When booked |
| Lender's valuation | Often paid by the lender, otherwise £150 to £800 | During the mortgage application |
Keep some money back for moving, furniture and the first repair. Then run the monthly sums honestly, including Council Tax, energy, insurance and any service charge, as well as the mortgage.
Step 2: Know what tax you will pay
- England and Northern Ireland: eligible first-time buyers pay no Stamp Duty up to £300,000, and 5% on the part from £300,001 to £500,000. Above £500,000 you cannot claim the relief. A £350,000 home would cost £2,500.
- Wales: there is no first-time buyer relief, but Land Transaction Tax starts at £225,000 for everyone. A £300,000 home would cost £4,500.
- Scotland: relief raises the zero band for Land and Buildings Transaction Tax from £145,000 to £175,000.
To qualify for Stamp Duty relief, everyone buying must be a first-time buyer who has never owned a home in the UK or anywhere else, and you must intend to live in it as your main home. Inherited property counts, so ask if that applies to you. Your conveyancer normally files the return, due within 14 days of completion in England and Northern Ireland and 30 days in Wales.
Step 3: Check your savings and schemes
A Lifetime ISA adds a 25% bonus on up to £4,000 a year, and the money can go towards a first home costing £450,000 or less. You must make your first payment before you turn 40 and at least 12 months before withdrawing, and the funds go straight to your conveyancer. From 29 October 2026, withdrawing for a home over £450,000 means a 20% charge. Other unauthorised withdrawals stay at 25%. A new First Time Buyer ISA is due from April 2029, so check the latest rules before you rely on either.
Gov.uk also lists shared ownership, First Homes in England and Help to Buy Wales, each with its own conditions and availability. Speak to a mortgage broker or lender about what you can borrow and get a decision in principle, so agents take your offer seriously.
Step 4: Research before you offer
This is where a little time saves real money. For each home you like, compare the price with recent sold prices, and read is this house overpriced?. Check whether it is leasehold or freehold, look at the EPC for running costs, then check the area at different times of day. A Doorstep Report gathers the public records for an address in England or Wales in one place, and shows you what it found before you pay. It is research, not a survey or legal search.
Step 5: From offer to exchange
- Make your offer through the agent, subject to contract. It is not binding yet.
- Instruct a solicitor or licensed conveyancer, and ask for an itemised quote.
- Apply for your full mortgage. The lender will value the home.
- Book a survey. For a new build see the new build guide, and for a flat see the flat guide.
- Your conveyancer orders searches, checks the title and raises enquiries.
- Read the seller's forms, the survey and your conveyancer's report. Ask about anything unclear.
- Arrange buildings insurance from exchange, agree a completion date, and exchange contracts. You are now legally bound.
Citizens Advice says acceptance to exchange can take up to seven weeks, but delays are common, particularly in a chain. You may have nothing to sell, but the seller may still be waiting on someone else.
Step 6: Completion and moving in
On completion day your lender sends the money, your conveyancer pays the seller and any tax, and you collect the keys. Take meter readings, tell your energy and water suppliers and the council, and set up Council Tax. Your conveyancer registers you as owner with HM Land Registry.
Buyers are a target for fraud. Gov.uk advises paying only the correct bank account. Always phone your conveyancer on a number you trust before sending money, and treat any email saying their bank details have changed as suspect.
This guide has a printable version: use the checklist on this page to tick off each step.
Questions, answered
How much deposit does a first-time buyer need?
MoneyHelper says deposits typically need to be at least 5% to 20% of the price. A bigger deposit may give you access to better rates, so compare deals with a broker or lender.
How long does buying a first home take?
Gov.uk says about five months on average, and a chain can make it longer. Citizens Advice says acceptance to exchange can take up to seven weeks and exchange to completion up to four, when things go smoothly.
Do first-time buyers need a survey?
It is not required, but it is usually sensible if you have no budget for surprise repairs. The lender's valuation is for the lender and does not tell you about condition.
Who counts as a first-time buyer?
For Stamp Duty relief, someone who has never owned a home in the UK or abroad, including through inheritance or gift. If you buy with someone who has owned before, neither of you gets the relief.