What Should I Do Before I Buy My First House?

Preparing properly before buying your first home can save time, reduce stress, and help you avoid costly mistakes. With consumer protection laws and updated tax thresholds now in effect, being market-ready is more important than ever. 

1. Get your finances in order 

Start by saving your deposit. While 5% deposits are available, putting down 10% or 15% significantly improves your interest rates, at the time of writing, some top-tier lenders are offering rates around 3.5%. At the same time, check your credit history. Fixing errors early prevents last-minute rejections when you submit your full mortgage application. 

If you’re receiving help from family, see our guides on using a gifted deposit from parents or using inheritance for a deposit to understand what documentation you’ll need. 

2. Secure a Mortgage in Principle 

Before viewing properties, get a Mortgage in Principle. This tells you exactly what you can borrow and shows sellers you’re a credible buyer. Having one in place lets you negotiate with confidence from the moment you walk into a viewing. 

3. Budget for the full picture 

Factor in legal fees, surveys, and moving costs. Most importantly, understand your Stamp Duty liability. At the time of writing: 

• England: First-time buyers pay 0% up to £300,000. If your property costs over £500,000, you lose this relief entirely and pay standard rates starting from £125,000. 

• Wales: You pay Land Transaction Tax. The 0% threshold for all residential buyers is £225,000. 

4. Review upfront material information 

Under the Digital Markets, Competition and Consumers Act 2024, property listings now include far more detail. Before booking a viewing, check the material information provided, tenure, service charges, restrictive covenants. This early transparency helps you rule out unsuitable properties before spending money on a surveyor. 

5. Choose a conveyancer early 

Don’t wait until you’ve found a property to instruct a solicitor. Choosing a firm like Setfords early means your biometric Digital ID checks and source of funds verification are done before you even make an offer. This positions you as a ready-to-act buyer: a real advantage in a chain. 

Final Thoughts 

Being well-prepared makes the journey to homeownership far more straightforward. Our conveyancing team at Setfords specialises in helping first-time buyers navigate the process, from mandatory climate risk assessments to complex tax reliefs. 

Ready to get started? Get your free conveyancing quote today.

What you can expect with Setfords

More time, more attention: With no targets, Setfords lawyers can dedicate more time to you.

Ultimate flexibility: Our lawyers can tailor their schedules to meet your needs.

Nationwide coverage: with hundreds of consultant lawyers across the UK, we’ll connect you with the right expert.

Dedicated specialist legal partner: work directly with your chosen lawyer from start to finish.

Highly experienced: Setfords lawyers have an average of 20 years’ experience, so you can be assured you’re in safe hands.

Capacity-based allocation: our lawyers never take on more work than they can handle, so you get the focus and attention you deserve.

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