Your Guide to Buying a Home in the UK

The home buying process explained

The process of buying a new home in the UK involves several stages, which are outlined here.

How long does it take to buy a house?

The typical home buying process takes between 12 and 16 weeks from offer acceptance to completion, though this can vary. Cash buyers may complete more quickly than those purchasing with a mortgage if there are delays with surveys, searches or legal work.

 

Chain-free purchases, such as buying a new-build home, typically progress more quickly. Your timeline also depends on how quickly you can arrange finances, how responsive solicitors are and whether any issues arise during surveys or searches.

Key stages of buying a home in the UK

1. When buying a home, you'll first need to arrange a Mortgage in Principle (MIP)
2. Once you've found your ideal property and had your offer accepted, you can instruct a solicitor and arrange a property survey
3. Your solicitor conducts legal searches and reviews contracts whilst your mortgage lender completes their valuation
4. When you’re satisfied with the results of any surveys, you'll exchange contracts, committing you legally to the purchase
5. Finally, on completion day, you transfer the funds and collect the keys to your new home

Who’s involved in the home buying process?

Several professionals work together to help you buy a new home:

• Your mortgage broker or lender assesses your finances and provides the funds for your purchase

• A solicitor or conveyancer handles all legal aspects, including searches, contracts, and the transfer of ownership

• Estate agents represent the seller and arrange viewings

• Surveyors inspect the property to identify any issues

• The developer’s sales team will work with you directly if you're buying a new build

Understanding each person's role helps you know who to contact at different stages of your home buying journey.

Step-by-step guide to buying a home

Ready to buy a new home? Our detailed home buying guide walks you through every stage of the process, from organising your finances to collecting your keys. You'll find practical advice on preparing your deposit, choosing the right property and navigating the legal requirements. We break down each step into manageable tasks, helping you feel confident throughout your homeownership journey.

How much does it cost to buy a home?

Buying a new home involves more than just the property price. You'll also need to budget for:

• Your deposit – typically 5% to 20% of the purchase price

• Stamp Duty – first time buyers purchasing properties under £300,000 won't pay Stamp Duty, providing valuable savings

• Additional fees and costs – this may include solicitors’ fees, survey costs, mortgage arrangement fees and removal expenses

Our detailed guide on the cost of buying a new home helps you understand all expenses involved, ensuring you budget accurately and avoid surprises during the process.

Mortgages and financing your home

Securing the right mortgage is crucial when buying a home. Most buyers need a mortgage to fund their purchase, and understanding your options helps you find the best deal for your circumstances.

 

Lenders offer various mortgage types, including fixed-rate, variable-rate and tracker mortgages, each with different benefits and considerations. Start by getting a Mortgage in Principle (MIP), which shows sellers you're a serious buyer and indicates how much you can borrow.

 

Compare interest rates, fees and terms from multiple lenders, and consider using a mortgage broker who can access exclusive deals and guide you through the application process.

Help for first time buyers

First time buyers have access to various support schemes and incentives that make buying a new home more affordable.

First time buyer benefits and incentives

• Stamp Duty relief. First time buyers benefit from Stamp Duty relief on properties up to the value of £300,000

• First time buyer mortgages. Many lenders also offer mortgages specifically designed for first time buyers, sometimes requiring lower deposits or offering better interest rates

• Developer offers. When buying a new home, many developers provide additional support for first time buyers – check out our offers to find out more

Government schemes explained

Several government schemes can help first time buyers get on the property ladder.

• The First Homes scheme offers first time buyers new-build homes at a discount of at least 30% below market value

• The Help to Buy Wales scheme is also available on selected new build plots and developments in Wales

• The Mortgage Guarantee Scheme supports buyers with small deposits by encouraging lenders to offer 95% mortgages, meaning you only need a 5% deposit

• Shared Ownership allows you to purchase a share of a property, typically between 25% and 75%, and pay rent on the remaining portion

How buying a new build can help first time buyers

New-build homes offer several advantages for first time buyers.

• Exclusive offers. Developers often provide incentives and offers for first time buyers, such as lower deposit options

• Warranties and insurance. New builds also come with NHBC warranties and insurance, providing peace of mind that older properties can't match

• Energy-efficient designs. This may lower your monthly running costs, helping you manage your budget more effectively

• Chain-free purchase. Many new-build developments are chain-free, often resulting in faster completion times

Choosing between new build and existing homes

Deciding between a new build and an existing property is an important consideration when buying a home.

Benefits of buying a new build home

New-build homes come with many benefits, such as:

• Modern specifications designed for contemporary living, including open-plan layouts, energy-efficient systems and smart home technology

• Compliance with current building regulations and energy efficiency standards, which could result in lower heating bills and reduced environmental impact

• Chain-free purchase, which can mean less stress and more certainty over your moving date

What to consider when buying an older property

Older properties can often offer more character, period features and established gardens that appeal to many buyers. They may be in built-up neighbourhoods with existing infrastructure, schools and amenities.

 

However, it’s also important to budget for potential maintenance and repairs, as older boilers, wiring and plumbing may need updating. Thorough inspections are essential to identify any structural issues, damp or other problems that could be expensive to fix.

Energy efficiency and running costs compared

New build properties typically achieve better EPC ratings than older homes thanks to improved energy efficiency. Many new-build homes have double- or triple-glazing and efficient heating systems, which can help you save on energy bills.

Surveys, legal checks and paperwork

Surveys and legal checks protect you when buying a home by identifying potential issues before you commit to the purchase. Understanding the different types of surveys available can help you choose the right level of inspection for your property. Your solicitor conducts essential searches covering local authority records, as well as legal checks.

 

Having the essential house purchase documents ready speeds up the process and prevents delays.

Exchange, completion and moving day

The exchange of contracts marks the point at which buying a home becomes legally binding for both parties. Completion day is when the remaining funds transfer from your lender to the seller's solicitor, and ownership officially passes to you. Once your solicitor confirms completion, you can collect your keys and move into your new home. Plan your moving day carefully, arranging removals in advance and ensuring utilities are set up.

Common home buying mistakes to avoid

Learning from common pitfalls helps ensure your experience of buying a new home is stress-free.

Underestimating costs

Many people focus solely on the deposit and property price when buying a home, forgetting additional expenses that quickly add up. Stamp Duty, solicitor fees, survey costs, mortgage arrangement fees and removal expenses should also be budgeted for.

Skipping surveys

Some buyers skip property surveys to save money. Surveys identify structural issues, damp, electrical problems or other defects that aren't visible during viewings.

 

Without a survey, you risk discovering expensive problems after completion when you're legally committed to the purchase. Even on new build properties, a snagging survey identifies minor issues that the developer should fix before you move in.

Delays with paperwork or finance

Slow responses to solicitor requests or delays in arranging your mortgage can jeopardise your purchase. Keep your solicitor and mortgage broker updated on your circumstances and request regular updates from them to ensure the buying process stays on track.