The buying process, step by step
- Work out your budget and depositThink about your savings, any gifted deposit, and the other costs of buying such as legal fees, surveys and any Stamp Duty Land Tax.
- Check your credit fileMake sure you are on the electoral roll and that your credit file is accurate.
- Speak to a mortgage adviserWe take time to understand your goals, circumstances and finances, and explain your options.
- Get an agreement in principleThis is an indication from a lender of what it may consider lending, subject to a full application. Estate agents often ask for one.
- Find a property and make an offerOnce your offer is accepted, instruct a solicitor or licensed conveyancer.
- Full mortgage applicationWe handle the paperwork, liaise with the lender and keep you updated. The lender will carry out a valuation.
- Survey and legal workConsider a survey of the property's condition. Your conveyancer carries out searches and checks the contract.
- Mortgage offerIf the lender is happy, it issues a formal mortgage offer.
- Exchange of contractsThe purchase becomes legally binding and you usually pay your deposit.
- CompletionThe money is transferred and you collect your keys.
Useful tools
Our homepage has a mortgage calculator for estimating monthly repayments and a Stamp Duty calculator for residential purchases in England and Northern Ireland. Use these as a guide only and confirm the exact tax due with your conveyancer or HMRC.
Protecting your new home
Many first-time buyers think about life insurance, critical illness cover or income protection when they take on a mortgage. See our protection insurance page.
General information, not advice. This information is a guide only and should not be relied on as a recommendation or advice that any particular mortgage is suitable for you. All mortgages are subject to the applicant(s) meeting the eligibility criteria of the specific lender.