What Are the Stages of Buying a House for a First-Time Buyer?

Buying your first home is a landmark achievement. It involves several legal and financial steps, but understanding the process makes it far less daunting. Here’s how it typically works. 

1. Mortgage in Principle 

Before viewing properties, get a Mortgage in Principle. This preliminary check confirms how much a lender is willing to offer you. It shows estate agents you’re a credible buyer. 

2. Instructing a solicitor and ID checks 

Once your offer is accepted, instruct a solicitor straight away, or even before, if you want to be ready to move quickly. For more on timing, see our guide on whether you need a solicitor before making an offer. 

To protect against fraud, you’ll complete biometric Digital ID verification via your smartphone. This meets HM Land Registry standards and lets your legal team start work without a physical meeting. 

3. Searches and mortgage application 

Your solicitor will request funds to order property searches immediately. These cover local authority checks, environmental risks, and mandatory Climate Change assessments looking at flood and erosion projections. At the same time, you submit your full mortgage application. Your lender arranges a valuation to confirm the property is worth the price. 

4. Reviewing upfront material information 

Under the Digital Markets, Competition and Consumers Act 2024, your solicitor reviews the upfront material information provided by the seller at listing. This early transparency helps flag restrictive covenants or tenure issues before you’ve spent significant money. 

5. Report on Title 

Once searches return and your mortgage offer is issued, your solicitor prepares a Report on Title. This explains exactly what you’re buying, boundaries, rights of way, and any legal obligations you’re taking on. 

6. Exchange and completion 

Exchange of contracts is the point of no return. You pay your deposit (usually 10%) and the deal becomes legally binding. Completion typically follows 7-14 days later, funds transfer, ownership registers, and you get the keys. 

7. Stamp Duty and Land Transaction Tax 

Tax thresholds matter for first-time buyers. At the time of writing: 

• England: The 0% SDLT threshold is £300,000 (on properties up to £500,000). 

• Wales: You pay Land Transaction Tax. There’s no specific first-time buyer relief, but the 0% threshold for all residential buyers is £225,000. 

Final Thoughts 

Understanding these stages makes the journey to homeownership much clearer. With support from our conveyancing team at Setfords, first-time buyers across England and Wales can move through each step with confidence. 

Taking your first step on the ladder? Speak to our conveyancing team today.

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