Published 2026-05-12 · KentLoop Property Guides

First-Time Buyer Guide: Your Complete UK Homebuying Walkthrough

Buying your first home is one of the biggest financial commitments you'll ever make. It can feel complex, jargon-heavy, and daunting — but broken into clear stages, it's a manageable process that thousands of people navigate successfully every year.

This guide walks you through the entire homebuying journey as a first-time buyer in the UK, from your initial financial assessment to picking up the keys on completion day.

Stage 1: Assess Your Finances

Before you start browsing Rightmove, get a clear picture of your financial position.

Deposit: Most lenders require a minimum deposit of 5% of the purchase price, though 10% gives you access to significantly better mortgage rates. A 15–25% deposit opens the most competitive deals. Build a savings plan with a specific target and timeline.

Saving vehicles: Consider a Lifetime ISA (LISA). You can contribute up to £4,000 per year, and the government adds a 25% bonus (up to £1,000/year) on savings used toward a first home purchase. The property must cost £450,000 or less.

Additional costs: First-time buyers often underestimate total purchase costs. Budget for:

• Stamp Duty Land Tax (SDLT) — first-time buyers pay no SDLT on the first £425,000 (as of 2025/26, subject to change)
• Solicitor/conveyancer fees: £1,000–£2,500
• Survey: £400–£1,500
• Mortgage broker fee: £0–£750 (many are free to buyers)
• Mortgage arrangement fee: £0–£1,999 (can often be added to the mortgage)
• Removal costs: £500–£2,000+
• Buildings and contents insurance: from year one

Stage 2: Get a Mortgage in Principle

Before viewing properties, speak to a mortgage broker and get an Agreement in Principle (AIP), also called a Decision in Principle (DIP). This is a conditional statement from a lender that they would be willing to lend you a specified amount.

An AIP:

• Confirms your budget with confidence
• Shows estate agents you're a serious buyer
• Does not commit you to that lender or product
• Typically involves a soft credit check (no impact on your credit score)

Most AIPs are valid for 30–90 days. If yours expires before you find a property, most brokers can refresh it quickly.

Stage 3: Research Areas and Property Types

Ashford and the wider Kent area offer a wide range of property types and price points. Consider:

• Budget vs travel time. Ashford's Eurostar links mean London professionals can access significant value. Use journey planner tools to compare commutes from different postcodes.
• Schools. If this is relevant to you, check Ofsted ratings for local primary and secondary schools.
• Future development. Large development areas may see price growth — or disruption during construction.
• Leasehold vs freehold. For flats and some new builds, check whether the property is leasehold and understand the lease length, service charge, and ground rent. See our leasehold pitfalls guide for detail.

Stage 4: Find a Property and Make an Offer

Attend viewings with a checklist:

• Signs of damp (brown staining, peeling paint, musty smell)
• Condition of roof from outside (missing tiles, sagging)
• Window and door condition
• Boiler age and type
• Loft access and insulation
• Any obvious structural cracks (diagonal cracks from window corners are a red flag)

When you're ready to make an offer, submit it in writing through the estate agent. Offers are "subject to contract" — neither party is legally bound until exchange.

Offer strategy: Research comparable recent sold prices on the Land Registry (available at gov.uk/search-house-prices). If the asking price reflects fair market value, a first offer at 3–5% below asking is common. If the property has been on the market for several months, there may be more room.

Stage 5: Instruct a Solicitor and Book a Survey

As soon as your offer is accepted:

1. Instruct a conveyancing solicitor (see our conveyancing checklist guide)
2. Book your RICS survey (Level 2 or Level 3 — see our survey comparison guide)
3. Confirm your mortgage application is in progress with your broker

These three things should happen simultaneously. Waiting on any one of them delays everything downstream.

Stage 6: The Legal and Financial Process

Your solicitor will conduct property searches, review the title, raise enquiries with the seller's solicitor, and check your mortgage offer. Your broker will see your mortgage application through to a formal offer.

This stage typically takes 8–12 weeks. You can help it move faster by:

• Responding promptly to all requests from your solicitor and broker
• Providing documentation quickly when asked
• Keeping in regular contact with your solicitor for progress updates

Stage 7: Exchange of Contracts

Exchange is the milestone when the transaction becomes legally binding. At exchange:

• You pay your deposit (typically 10%)
• A completion date is set
• You take out buildings insurance (mandatory from exchange)

If either party pulls out after exchange, they face financial penalties.

Stage 8: Completion

Completion is the day funds transfer and you become the legal owner. Your solicitor will:

• Request mortgage funds from your lender
• Transfer the agreed price to the seller's solicitor
• Confirm when to collect keys (usually from the estate agent)

After completion, your solicitor submits your Stamp Duty return and registers your ownership at Land Registry.

First-Time Buyer Schemes

Several government schemes exist to support first-time buyers:

• Lifetime ISA — 25% government bonus on savings (max £450,000 purchase price)
• Shared Ownership — buy a share (25–75%) and pay rent on the remainder, gradually buying more
• First Homes scheme — new-build homes sold at a 30–50% discount for eligible local buyers and key workers
• Mortgage Guarantee Scheme — supports 95% LTV mortgages with lenders who might otherwise not offer them

Eligibility criteria and availability change — ask your mortgage broker for up-to-date information.

Find Mortgage Brokers in Ashford →

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Disclaimer: This guide is provided for general information purposes only and does not constitute financial, legal, or mortgage advice. UK property purchasing rules, stamp duty thresholds, government scheme eligibility, and lending criteria change regularly. Always consult a qualified, FCA-authorised mortgage adviser and a regulated solicitor before making any property purchase decision. KentLoop is a directory service and does not provide financial or legal advice.