Buying a property in the UK involves a structured legal and financial process that typically takes 3 to 6 months to complete. 

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 - A First Time Buyer is someone who has NEVER been named on a mortgage.

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 - A re-mortgage is getting a new mortgage on the same property. This can be higher or lower than the remaining mortgage and can involve adding or removing named people from that mortgage. A re-mortgage is faster than a purchase.

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 - Flats are almost all leasehold, meaning you are buying ownership for a period of time, while houses are almost all freehold, meaning you are the owner until you sell. Leaseholds usually cost twice as much in conveyancing costs.

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 - If you are splitting property ownership in any way you will need a valuation. Estate agents will almost always over-estimate, while a RICS (royal society of chartered surveyors) valuation will always be more accurate. Every lender will use a RICS valuation before offering a mortgage. A valuation costs between £300–£700, dependent on location and property. For a free, best-in-the-market quote, click HERE

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 - Mortgages come in many shapes and sizes, buy-to-lets, interest only, fixed rate, variable rate (also called tracker rate) and so on. When the interest rates are dropping, lenders will be more generous with fixed rates, when they are rising they will be more generous with variable rates. With around 105 lenders and over 2000 products to choose from, please consult a broker to find the best deal for you. Book a free chat with our expert broker HERE.

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1. Financial Preparation

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• Deposit: You generally need at least 5% of the property value. Larger deposits (15%+) usually unlock more favorable interest rates, with a 40% deposit unlocking the best deals on the market.

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• Decision in Principle (DiP) (also called a mortgage in principal or an agreement in principal for no good reason): Obtain this written estimate from a broker before searching. It confirms how much you can borrow and shows sellers you are a serious buyer. To discuss please message HERE

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• Budgeting for Extras: Beyond the purchase price, budget for:

  • Stamp Duty Land Tax (SDLT): As of 2026, first-time buyers pay no SDLT on the first £300,000 of homes costing up to £500,000. Standard movers start paying at £125,000.

  • Legal Fees: Expect to pay £500–£2,500 for a conveyancing solicitor. For a best-in-the-market quote, click HERE

  • Surveys: Professional inspections are not required, but are highly recommended if you have any doubts at all about the house structure. These cost between £300 and £1,500 depending on the level of detail. For a quote, click HERE

  • Broker fees: Many brokers charge up to £700 (brokerage fee) to arrange your mortgage, but also get a payment from the lender called a procuration fee (around 0.25% of the mortgage value). For a broker that has agreed to forego the brokerage fee entirely for Help Network clients, book a free chat HERE

 

2. The Property Search and Offer

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• Viewings: Inspect properties in person. Check for damp, structural cracks, and the condition of the roof and boiler.

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• Making an Offer: Submit your offer to the estate agent. Once accepted, the property is "Sold Subject to Contract" (SSTC), meaning it is not yet legally binding. 

 

3. The Legal and Technical Process

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• Conveyancing: Your solicitor handles legal checks, including searches (local authority, environmental, water/drainage) to ensure there are no hidden issues like planned roads or flood risks. For a quote, click HERE

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• Mortgage Application: After an offer is accepted, your broker must submit a formal application to your lender, who will conduct a basic valuation to ensure the property is worth the loan amount.

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• Independent Survey: While not mandatory, it is strongly recommended to get a more detailed survey (e.g., RICS Level 2 or 3) to uncover potential structural repairs, especially on older properties. For a quote, click HERE

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The time-frame is typically 1 to 2 days for a good broker (like me) to get you a Decision in Principal, 1 to 2 weeks for the broker to turn that into an offer from the lender, then 1 to 2 months for the conveyancer to get all the paperwork in order.

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4. Finalizing the Sale

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1. Exchange of Contracts: Both parties sign the final contracts, and you pay your deposit (usually 10%). The deal is now legally binding.

2. Buildings Insurance: You must have a policy active from the date of exchange.

3. Completion: Usually 1–4 weeks after exchange. The remaining funds are transferred, and you receive the keys.

4. Post-Completion: Your solicitor pays any Stamp Duty and registers your ownership with the HM Land Registry.