Whether you’re buying for the first time or moving into a new property, this step-by-step guide takes you through the home-buying process from costs to completion.
If you’re in Scotland, read our guide on buying a property in your country.
Buying a house or flat in England, Wales and Northern Ireland
Before you get started
Buying a property takes time, and it might be a while before you start your search. Make the most of this period; save, research, and prepare for this exciting step.
Follow these steps to work out what you need to do
Get your deposit together
In most cases you need a minimum mortgage deposit of 5% of the property value you want to buy.
But remember that low deposit options can mean you’re offered a higher mortgage interest rate and you’ll repay more in the long term.
A mortgage deposit is usually made up of:
cash savings
equity from your current home, or
a mixture of both.
If you’re selling your home, get a valuation by an estate agent (or two). The average value will show what potential equity (cash) you have for your deposit once your mortgage is repaid.
Try to maximise your deposit. Even making small savings can build up over time.
Find out how to reduce your bills
Explore tips on how to make the most of your money and savings
Check eligibility for home buying schemes
There are many home buying schemes across the UK.
Depending on where you live and your circumstances, you could get support to buy a new home, for example, in the form of an equity loan, mortgage guarantee, or shared ownership.
You don’t need to be a first-time buyer to benefit. Some schemes are open to current homeowners.
Check if you qualify for schemes available in your area:
Own your homeOpens in a new window (England)
GOV.WALESOpens in a new window (Wales)
NI DirectOpens in a new window (Northern Ireland)
Read more about government schemes for home-buyers
Find out more about Preparing to buy a property
Preparing to buy a property
Buying a house or flat is exciting, but the process can seem complicated. Complete these steps before you start looking at properties to save time and stress later.
Follow these steps to work out what you need to do
Work out what you can afford to borrow
There’s a lot to think about when buying, so it’s worth getting an idea of how much it could cost you now, and in the future.
Look at current property prices in your chosen area to work out what you need for a mortgage.
Use a Mortgage affordability calculator to see how much you could borrow and the likely monthly mortgage repayments.
If you can’t borrow enough, see if you can make changes to improve your mortgage offer.
Create a budget and be realistic about how much you spend on essential living costs, and consider the price of maintaining your new home.
Find out what costs to budget for if you’re also selling a house or flat.
Discover the typical cost of buying a home
Check your credit report before approaching lenders
A good credit score improves your chances of getting a mortgage.
Lenders look at your credit report when considering your mortgage application. Make sure you check it before you apply because if you’re refused a mortgage it will take time to build up your credit score.
It’s free and easy to access your credit report, get an idea of your score, and correct any errors.
If your score looks low, most credit scoring apps will make suggestions, like:
reducing debt
registering to vote
removing financial links (like an ex-partner).
Explore other ways to increase your credit score
If you have arrears or missed payments
Problem debt and outstanding missed payments can drag down your credit score. You’re unlikely to be offered a mortgage so it’s best to sort this out before applying.
To help you get back on track:
Check if you pay Stamp Duty or Land Transaction Tax
You may need to pay tax when you buy a house or flat in the UK.
This can be a significant cost, so plan for it in your budget. It could affect how much you can afford to spend on your property.
How much tax you pay depends on if you’re a first-time buyer, where you live and the value of the home you’re buying.
England and Northern Ireland
Stamp Duty is payable on properties over £250,000 (or from £425,000 if you’re a first-time buyer and the property is worth less than £625,000).
Calculate Stamp Duty on your property
Wales
Land Transaction Tax is due on all properties over £225,000.
Use our Land Transaction Tax calculator
Get a mortgage in principle
You can get a mortgage from an Independent Financial Adviser (IFA), mortgage broker or lender.
Once you’ve found the right mortgage product, you’ll receive a ‘mortgage in principle’ (MIP). This is sometimes called an agreement or decision in principle.
An MIP tells you how much money, in theory, the lender will offer and the interest rate you’ll pay. It shows that you’re serious about buying and helps speed up the process if you find a property you want to buy.
Your MIP amount plus your deposit (or equity in your home) is your homebuying budget.
It is usually valid for 30-90 days, but you can reapply if it expires.
You might be charged a mortgage booking fee (between £100-£200) to reserve your chosen product.
Keeping your current mortgage rate
If you're unlikely to get a better rate with a new mortgage offer, ask your lender about "porting" your deal and rate. Porting lets you buy a new home and bring your mortgage deal with you.
Remember that the ported rate only applies to your existing mortgage, and any additional amount you borrow will have a separate interest rate.
Find out more in our guide, Understanding mortgages and interest rates
Find out more about Finding a property and making an offer
Finding a property and making an offer
When you know how much you can spend, it’s time to start looking for properties. It’s a good idea to keep an eye on what’s available where you want to live.
Follow these steps to work out what you need to do
Use a high street estate agency
Using an estate agent is the most common way to buy a property, but how they operate can vary throughout the UK.
They can help with your property search by:
notifying you about new properties,
handling paperwork,
monitoring the buying and selling chain, and
liaising with solicitors.
You can sign up with lots of agents and as a buyer you won't pay any fees.
Explain to them what you’re looking for and your position, such as being a first-time buyer.
When showing properties, agents must be honest.
Ask agents questions, like:
How long the property has been on the market?
Are there any anticipated works or planning permissions?
Is there ground rent or service charges?
Look online
High street estate agents have their own websites advertising the properties they have for sale. Here you’re able to filter by location, cost and number of bedrooms to find something right for you.
Most will also add their listing to online property websites or portals. Use them to see properties from multiple agents in one place.
Online-only property sites let sellers advertise without an estate agent.
These sites offer a basic service to the seller to help them reduce selling costs.
As a buyer, you may find you deal with a contact centre or a local representatives, rather than the same agent each time.
Use a property auction
Buying a house at auction is a popular and quick option, especially for properties that need a faster sale, such as any requiring renovations or that have been repossessed.
Auctions can happen online over weeks or in person on the same day, with bidding possible in various ways.
Before bidding at auction, always:
view a property
check the legal pack, and
pay for a thorough building survey and legal appraisal.
Be aware that any expenses are lost if you decide not to bid or lose the auction.
If you win the auction, you pay a 10% deposit on the auction day, with the remainder due within 28 days.
Additional costs apply, including admin and buyers' fees, commission, and solicitor’s fees.
Find out more about auctions at PropertymarkOpens in a new window
Make an offer
Usually, you make your offer on the property through the estate agent.
Your offer is usually:
Subject to contract (STC) – the sale is only final once you exchange contracts.
Subject to survey - allows for the cost of any faults or issues to be considered once your surveyor has checked the property out.
Negotiating lower than the asking price is possible, but the seller may refuse.
If your offer is accepted, insist the estate agent take the property off the market. Otherwise, a buyer could put forward a higher bid (gazumping) and take the property.
The estate agent then sends you a letter confirming your offer and acceptance - request one if you don’t receive it.
If you’re asked to make a sealed bid
Making an offer where the price you propose is secret (a sealed bid) is not very common in the UK, except in Scotland.
Sealed bids are mainly used when there is competition for a property.
The agent gives a guide price, and your sealed bid should be higher than this. A date is set, and all bids are usually opened together.
The highest offer doesn’t always win. Use the opportunity to include a letter in your offer to tell them how quickly you can move or if you’re a first-time buyer.
The results aren’t legally binding - you can withdraw without penalty if you change your mind.
But if you make the winning offer, you can continue with the sale.
What to do when your offer is accepted
When your offer on a property is accepted, you need to hire specialists to help with the legal parts of the sale. Your estate agent may be able to recommend services to you, but it’s always worth shopping around.
Follow these steps to work out what you need to do
How long does it take to buy a house or flat?
There’s no typical timescale when buying a property.
On average, it can take two to three months with an estate agent, but buyers and sellers have different needs and issues can pop up and cause delays.
If you buy a property through an auction, the whole process can be completed in under 60 days.
Whichever route you take, you need to be ready to move quickly if your offer is accepted.
Hire a solicitor or conveyancer
Typical cost: around £2000
You need to instruct a solicitor or licenced conveyancer to look after all the legal side of the property sale.
Conveyancers are specialists in property law. A solicitor has broader legal experience and is typically more expensive.
Both will:
draft contracts
give legal advice
carry out local council searches
deal with the Land Registry, and
transfer the money to pay for your property.
Arrange a property survey
Typical cost: £400-£1,500 (cost varies between survey and property)
You’ll need to arrange for a surveyor to conduct a property survey. This report checks the property’s value and for any building issues.
Speak to your mortgage lender about whether upgrading your valuation survey is an option. Sometimes they can arrange a property survey for you.
Your survey choice should be based on the age and condition of the property, not the cost.
RICS level 1 (Condition Survey) – basic, suitable for new builds.
RICS level 2 (Homebuyer Survey) – intermediate, ideal for properties with some wear and tear
RICS level 3 (Building or Structural Survey) – comprehensive, recommended for older homes.
How to find a surveyor:
search online and compare quotes
get recommendations from friends/family
speak to your estate agent or solicitor/conveyancer (they may receive a commission from this).
For peace of mind, choose a surveyor registered with either:
Find more details on property surveys in our guide, costs when buying or selling a home.
Check your valuation survey (mortgage valuation)
Typical cost: £150-£800 (usually paid by your mortgage lender)
Your mortgage lender might arrange a valuation survey (or mortgage valuation) as part of the application process.
The survey confirms to your lender that the property is worth the price you’re offering.
Ask your lender if they do this and who covers this cost. Typically, lenders will pay but you need to know in case you need to budget for the cost.
Be prepared that the results of this survey could delay the sale, especially if it shows a lower value or issues with the building.
Find out how to Finalise your offer and mortgage
Finalise your offer and mortgage
When you have the survey results, it’s time to review the findings and confirm or withdraw your offer.
Follow these steps to work out what you need to do
Confirm your offer
Once surveys are completed and you’ve reviewed the results, you can choose to:
confirm your offer price
withdraw your offer
renegotiate the price or other terms of sale.
You can renegotiate your offer if problems will be expensive to fix or the mortgage valuation values the property at a lower price.
If you’re happy to go ahead, confirm with the estate agent.
This next stage in the process can be stressful.
Delays and problems are common, including:
the seller withdraws the property from the market
the wider buyer-seller chain collapses
the seller accepts a higher offer from another buyer (known as ‘gazumping’).
Be prepared that the sale could fall through up until the exchange of contracts.
Check out this useful guide on typical homebuying problems from Citizens AdviceOpens in a new window
Get your mortgage offer in writing
Typical cost: £1,000-£2,000
If everything goes according to plan, contact your lender or mortgage adviser to proceed.
There’s often a fee (arrangement fee) to set up a mortgage.
This fee can be added to your mortgage, but if you choose this option, you’ll pay interest on it for the life of the loan.
After you’ve received a binding mortgage offer in writing, you have at least seven days to think about it and cancel if needed. You can also use this time to compare the offer with other mortgages.
But if you want to go ahead, let the lender know before seven days is up.
If your mortgage application is rejected - don’t worry - there are options.
Discover your next step if your mortgage is declined
What to do if you change your mind
If you decide not to buy the property, you can back out and cancel your mortgage application.
You can withdraw any time up until you exchange contracts.
But depending on how far you've gone in the process, you might lose some of the money you have paid out, like your legal fees.
The seller might ask you to contribute to their costs. This is rare but can happen if you have negotiated taking the property off the market, so it hasn’t been shown to other interested buyers.
There’s no legal obligation for you to pay unless you’ve already exchanged contracts.
Find out about Exchange contracts
Exchange contracts
This part of the homebuying process is important. Once you have exchanged, the sale is legally binding, so this is your last chance to withdraw if you’re unsure.
Follow these steps to work out what you need to do
Complete final checks before you exchange
Your pre-exchange checklist:
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Searches completed and returned.
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Surveys completed.
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Mortgage offer in writing.
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Funds ready for your deposit (and holding deposit if needed).
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An agreed completion date.
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Details of fixtures and fittings included in the sale (in writing).
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Confirmation the property has a valid Energy Performance Certificate (EPC).
If there are no problems or delays, you should receive a contract to review with your solicitor.
Ask questions about anything unclear and sign the contract to complete the sale.
Consider indemnity insurance
Unexpected legal issues related to your new home can reveal themselves during conveyancing.
These can include:
access rights
restrictive covenants (where the property use is limited)
issues with planning permissions
incorrect building regulation paperwork
missing deeds or Land Registry documents
chancel repair liability (where you must contribute to church repairs if you live within a parochial council boundary).
Rather than fixing the problem now, your solicitor could suggest you or the seller buy an indemnity insurance policy to protect against any loss of value or legal claim in the future.
These are typically low-risk issues, but can be costly and time-consuming to resolve.
Policies can cost between £20 and £300.
Speak to your solicitor or conveyancer about your options before exchanging contracts.
Read more about indemnity insuranceOpens in a new window
Take out buildings insurance
Typical cost: £120-£140
Once you’ve exchanged contracts, you’ll need to buy buildings insurance.
This covers your new home’s structure, like the walls, roof and floors, and permanent fixtures, like fitted kitchen cupboards and your bathroom. Arrange your cover to start from the completion date.
If buying a leasehold property this could be included in your lease. Ask your conveyancer to check if it’s part of the freeholder management.
Find out more about buildings insurance.
To protect your belongings inside your home, consider taking out contents or combined insurance policy.
Use our guide to get the best insurance deal.
Already have insurance?
Check if you’re covered during house moves, and ask whether cover can transfer to your new property. Fees may apply for any policy changes.
Budget for moving costs
Typical cost: £400-£1,000+
Packing boxes and shifting furniture is heavy work, so hiring a professional moving team is an option if you need one.
Prices vary, so it’s a good idea to think about this early and include in your budget.
For example, a local move with a two-person crew with a van could cost £400-£500.
But larger properties needing bigger teams or long-distance moves can run to over £1,000.
You can pay extra if you want help packing up your stuff. Budget for around £50 per hour.
Always shop around and get quotes for exactly what you need.
Visit British Association of Removers (BAR)Opens in a new window to find registered removals firms.
Find out how to Finalise the purchase
Finalise the purchase (completion day)
This is when you finally get the keys and can move into your new home. It’s an exciting day, but it can be stressful if there are delays with the transfer of funds.
Follow these steps to work out what you need to do
What happens on completion day?
Most of the work on completion day is looked after by your solicitor or conveyancer.
Including:
checking your mortgage is approved
requesting funds from the lender
transferring purchase money to the seller
creating a completion statement (showing payments they made for you)
creating outstanding invoices, and finally,
confirming the sale is complete, and you can pick up the keys.
When you complete depends on the buying chain and your position in it.
If chain-free, completion can happen around 11am unless there are delays in transferring funds to the seller’s solicitor.
Further up the chain you might have to wait until later but you’ll be given an estimated time.
The property is yours once completion is confirmed, and then you can start moving in.
Settle your legal fees
On completion day, you pay out the remaining cost of the property, minus any deposit, to complete the sale.
Other fees may also be due on the day.
Solicitor or conveyancer fees
Typical cost: £2,000
It’s time to pay your legal bill, minus any deposit and cost of local searches if you’ve already paid them.
Electronic transfer fee
Typical cost: £25-£50
Solicitors or conveyancers may charge to transfer funds from your mortgage account.
Mortgage account fee
Typical cost: £100-£300
A one-time charge from your mortgage lender for opening, managing and closing your mortgage account. It can be added to your mortgage, but you pay interest, so consider paying it upfront.
Pay Stamp Duty or Land Transaction Tax
If you must pay tax on your new home, your solicitor will usually arrange to pay this for you.
How much you pay depends on your property, but it can be up to 12% of the value of your new home.
You only have a certain amount of time after the completion date to pay:
In England and Northern Ireland, Stamp Duty and Land Tax are due within 14 days.
In Wales, Land Transaction Tax must be paid within 30 days.
You will be charged a late penalty fee if you miss the deadline.
Contact your solicitor or conveyancer after the completion date to check it has been paid.