How to buy a house
in the UK.

Work out what you can realistically afford

Before you look at a single listing, get honest about the monthly number you can live with, not the maximum a lender might allow.

• Lenders typically look at income, existing credit commitments, dependants and outgoings, then apply their own affordability rules.
• Your comfortable monthly figure should include the mortgage payment, buildings insurance, council tax, energy, water and a repairs pot.
• Compare that figure against what you pay in rent now. Owning is not always more expensive, but the costs land differently.

Build (or find) your deposit

The deposit is usually the longest part of the journey, and it is where most renters assume they are further away than they actually are.

• Some lenders offer higher loan-to-value products, so a smaller deposit does not automatically rule you out.
• A Lifetime ISA (e.g. a LISA) can add a government bonus on eligible savings, with withdrawal penalties if you use the money for something other than a first home or retirement.
• Gifted deposits from family are common and lenders will ask for a letter confirming the money is a gift, not a loan.

Get your credit file mortgage ready

Lenders read your credit file before they read anything else about you. Fixing it is free and it is the single cheapest improvement most buyers can make.

• Check your file with more than one credit reference agency, because lenders do not all use the same one.
• Look for errors, old addresses, closed accounts still showing as open, and any missed payments you can explain.
• Being on the electoral roll at your current address, and keeping the same address for a while, both help.

Speak to a broker and get a mortgage in principle

A mortgage in principle is an indication of what a lender would lend you, based on the information you have given. It is not a guarantee, but estate agents will ask for one.

• A whole-of-market broker can see products a single bank cannot, and knows which lenders are comfortable with your circumstances.
• If your income is irregular, contracted or self-employed, a broker who underwrites manually matters more than the headline rate.
• Ask what the broker charges, when it is payable, and whether they are paid commission by the lender.

Check whether a scheme shortens your route

There are more routes into ownership than a straight purchase, and some are far less well known than others. Eligibility is the whole game.

• Shared ownership, Right to Buy, First Homes, rent-to-buy and key worker routes all have their own rules and their own trade-offs.
• Schemes differ by nation and sometimes by local authority, so always check the rules that apply where you are buying.
• A scheme that fits badly can cost more than no scheme at all. Read the resale and staircasing rules before you commit.

Find the right home, not just an available one

Viewing is a skill. The aim is to leave knowing what the property will cost you over the next five years, not just whether you liked the kitchen.

• Check tenure (freehold or leasehold), and for leasehold ask about the remaining term, ground rent and service charge.
• Ask why the seller is moving, how long the property has been listed, and whether there is a chain.
• Look at the boring things: the boiler age, the windows, damp signs, the roof, and where the water comes in and goes out.

Make an offer and hold your position

An accepted offer is a starting point, not a commitment. In England and Northern Ireland nothing is binding until exchange of contracts.

• Base your offer on comparable sold prices, the condition of the property and how long it has been on the market.
• Say clearly that your offer is subject to survey and contract, and confirm it in writing.
• Ask the agent to mark the property as sold subject to contract once your offer is accepted.

Nation note. In Scotland the process differs: offers are usually submitted by a solicitor, properties often go to a closing date, and the missives become binding earlier than exchange does elsewhere.

Instruct a conveyancer and start the legal work

Conveyancing is the legal transfer of the property. A slow or unresponsive firm is the most common cause of a purchase falling apart.

• You can use a solicitor or a licensed conveyancer. Both can do the work, and their regulation and scope differ.
• Ask for a full quote including searches, Land Registry fees and any bank transfer fees, and ask who will actually handle your file.
• Reply to their enquiries the same week. Most delays come from waiting on someone in the chain, and you can control your own part of it.

Get a survey and price the work

The lender’s valuation protects the lender. A survey protects you, and it is the report that tells you what you are actually buying.

• Survey levels range from a basic condition report to a full building survey, with cost rising accordingly.
• A survey that finds work is not bad news. It is a negotiating position, as long as you get real quotes for the work.
• If the valuation comes in below your offer, expect the lender to lend against the lower figure.

Add up every cost before you exchange

The deposit is not the total. Stamp duty, legal fees, searches, survey, mortgage product fees and removals all land in the same few weeks.

• Stamp duty rules and reliefs differ by nation, and first-time buyer relief has its own price thresholds.
• Ask your lender whether the product fee can be added to the loan, and what that costs you over the term.
• Hold back a moving-in fund. Something always needs doing in the first month.

Nation note. Stamp duty land tax applies in England and Northern Ireland. Scotland uses Land and Buildings Transaction Tax, and Wales uses Land Transaction Tax, each with their own thresholds and reliefs.

Exchange, then complete

Exchange is the point of no return. Completion is the day the money moves and the keys are yours.

• You will need buildings insurance in place from the date of exchange, not completion.
• Your conveyancer will confirm the completion date with everyone in the chain before exchange.
• On completion day, funds move between solicitors and the agent releases the keys once they have confirmation.

Move in and protect what you have bought

The first year of ownership sets the tone. Small habits here save large bills later.

• Read your meters on day one, register with suppliers, and tell the council you have moved.
• Set up a standing order into a maintenance fund, however small, so repairs are a decision and not a crisis.
• Learn where the stopcock, fuse board and gas shut-off are before you need them.