So, you want to buy your first home. Let's make it happen.
Buying your first home is one of the biggest things you'll ever do. And if you're feeling a bit overwhelmed right now — by the jargon, the numbers, the sheer number of steps involved — that is completely normal. Almost every first-time buyer feels exactly the same way.
This first time buyer UK guide is here to cut through all of that. No confusing acronyms without explanation, no assumptions about what you already know. Just a clear, honest walk-through of every stage of the home-buying journey, from working out whether you can afford to buy right through to getting your keys on moving day.
We've written this in early 2026, so all the figures — mortgage rates, stamp duty thresholds, deposit averages, house prices — are as current as they can be. The property market moves, so we'll keep this guide updated, but the fundamentals of buying a home don't change much year to year.
Here's what we cover in this guide:
- Can you afford to buy, and how to work it out
- Getting mortgage-ready — what lenders look for
- Finding your home and making a successful offer
- The legal process explained simply
- Exchange, completion, and what to expect
- Moving in — your practical checklist
- Every government scheme available to first-time buyers in 2026
- Your top questions answered in the FAQ
Ready? Let's go.
Section 1: Can You Afford to Buy?
Start with the honest numbers
Before you start spending every weekend at viewings, it's worth doing a proper financial sense-check. The good news: affordability has genuinely improved for first-time buyers over the last couple of years. The Bank of England cut its base rate to 3.75% in February 2026, and mortgage rates have followed — the average two-year fixed rate for first-time buyers with a 10% deposit is now around 4.4%, down from over 5% a year ago. That makes a real difference to monthly payments.
According to Connells Group research from February 2026, the average first-time buyer spent £244,740 on their home in January 2026. Coventry Building Society analysis puts the average first-time buyer property price at £228,000 for December 2025. The number you'll need to save for your deposit depends hugely on where in the country you're buying.
How much deposit do you need?
The minimum deposit most lenders will accept is 5% of the purchase price. On a £228,000 property, that's £11,400. With a 10% deposit (£22,800), you'll access significantly better mortgage rates — and lower monthly repayments for years to come.
According to Nationwide data from January 2026, the average 10% deposit across the UK is around £23,000 — but this varies enormously by region:
| Region | Average 10% Deposit Needed | Time to Save (at £320/month) |
|---|---|---|
| London | ~£44,800 | ~9 years |
| UK Average | ~£23,000 | ~6 years |
| Yorkshire & the Humber | ~£15,400 | ~4 years |
| Scotland | ~£13,900 | ~3.5 years |
| North East England | ~£13,100 | ~3.5 years |
Based on saving 10% of average net earnings (roughly £320 per month), Nationwide calculated it would take nearly six years to save the UK average deposit — or about nine years in London. That's a sobering figure, but the picture improves if you're buying in a more affordable region, have a higher income, or can save more aggressively.
What are all the costs involved?
Your deposit is the big one, but it's not the only cost. Budget for these additional expenses on top of your deposit:
- Stamp Duty Land Tax (SDLT) — see Section below for full current rates
- Solicitor/conveyancer fees — typically £1,000–£2,500
- Mortgage arrangement fee — varies by lender, often £999–£2,000 (or add to mortgage)
- Survey — £400–£1,500 depending on type
- Mortgage valuation — sometimes free with the mortgage product
- Buildings insurance — required from exchange of contracts
- Removal costs — £300–£1,500+ depending on distance and volume
For a detailed breakdown of every cost involved, see our full guide: The Complete Cost of Buying a House in the UK.
How much can you borrow?
Most lenders will offer you between 4x and 4.5x your annual income. Some specialist lenders and government-backed products allow up to 5x or even 5.5x for certain professions. If you're buying with a partner, lenders generally use your combined income.
So if you and your partner earn a combined £60,000, you could expect to borrow between £240,000 and £270,000. Add your deposit on top, and that's your maximum purchase price. Keep in mind that lenders also stress-test you against higher future interest rates, so your actual borrowing may be a little less than the headline multiple suggests.
Section 2: Getting Mortgage Ready
Get your Agreement in Principle (AIP) first
Before you spend hours on Rightmove or Zoopla, get a mortgage in principle (also called an Agreement in Principle or AIP). This is a written confirmation from a lender or mortgage broker showing how much they'd be willing to lend you — based on a basic assessment of your income and credit history.
An AIP has two big advantages: it tells you what budget you're actually working with, and it makes estate agents take you seriously. Most sellers expect you to have one before they'll accept an offer.
Getting an AIP is free and usually takes about 30 minutes online. It does not commit you to that lender, and it doesn't appear on your credit report as a full application (as long as it involves a soft credit check, which most do).
Understand your credit score
Your credit score is one of the most important factors in whether you'll be approved for a mortgage and at what rate. The major UK credit reference agencies are Experian, Equifax, and TransUnion. You can check your score for free with services like Experian, Clearscore (Equifax data), or Credit Karma (TransUnion data).
If your score isn't where you want it to be, here's what helps:
- Register on the electoral roll at your current address
- Pay all bills on time, every time
- Keep credit card utilisation below 30% of your limit
- Avoid making multiple credit applications in a short period
- Close unused credit accounts you don't need
- Check your file for errors and dispute any you find
Improving a poor credit score takes time — typically 6–12 months of good habits. If buying soon isn't realistic, start now and give yourself that runway.
Types of mortgage explained
There are several types of mortgage available to first-time buyers. Here's what you need to know:
- Fixed rate mortgage — Your interest rate stays the same for an agreed period (usually 2, 3, or 5 years). Your monthly repayment is predictable and won't change. Most popular with first-time buyers. As of March 2026, you can find 2-year fixed rates from around 3.99% at 90% LTV and 5-year fixed rates from around 4.17% at 90% LTV.
- Tracker mortgage — Your rate tracks the Bank of England base rate plus a set margin. Payments go up or down as the base rate changes. Can be good if rates are expected to fall, but less predictable.
- Standard Variable Rate (SVR) — What you roll onto after a fixed or tracker deal ends. Currently averages around 7.15–7.45%. You almost never want to stay on this — always remortgage before your deal ends.
- Repayment mortgage — Each month you repay both interest and a portion of the capital. By the end of the term, you own the home outright. The recommended type for most buyers.
- Interest-only mortgage — You only repay interest each month, not the capital. Very rarely available to first-time buyers without significant assets.
Should you use a mortgage broker?
For most first-time buyers, yes. A mortgage broker searches the whole market (or a large part of it) on your behalf, can access deals not available direct to the public, and handles much of the paperwork. Many brokers are fee-free, earning commission from the lender instead.
For a detailed guide to choosing and applying for a mortgage, see our First-Time Buyer Mortgage Guide.
Current mortgage rates at a glance (March 2026)
| Deal Type | LTV | Best Rate Available |
|---|---|---|
| 2-year fixed | 80% (20% deposit) | From ~3.69% |
| 2-year fixed | 90% (10% deposit) | From ~3.99% |
| 2-year fixed | 95% (5% deposit) | From ~4.44% |
| 5-year fixed | 90% (10% deposit) | From ~4.17% |
| 5-year fixed | 95% (5% deposit) | From ~4.62% |
| 100% (no deposit) | 100% | From ~5.22% (Skipton only) |
Source: Which? mortgage tables, March 2026. Rates change daily — always check current figures.
Section 3: Finding Your Home
Where to search
The vast majority of UK properties are listed on Rightmove, Zoopla, and OnTheMarket. Set up saved searches with your key criteria — location, property type, number of bedrooms, price — and you'll get email alerts as new properties come to market. Moving fast matters in competitive areas: popular homes can receive offers within days of listing.
Don't overlook local estate agents. Registering directly with agents in your target area means you may hear about properties before they're listed online, and agents will often call buyers on their books first.
What to look for at viewings
It's easy to fall in love with a home and miss practical issues. Take your time and ask questions. Things to check:
- Signs of damp — tide marks, peeling wallpaper, musty smell, dark patches in corners
- Roof and guttering — visible from the outside, or ask when last inspected
- Boiler age and condition — and the most recent gas safety certificate
- Windows — double glazed? Any misting between panes (failed seal)?
- Mobile signal and broadband — check coverage in the area
- Parking — dedicated, permit, or free? How busy is the road?
- Neighbours and noise — visit at different times of day if possible
- Leasehold vs freehold — if leasehold, how many years remain? What are the service charges?
Don't be afraid to go back for a second viewing. For a purchase this significant, one visit is rarely enough.
Making an offer
When you're ready to make an offer, you'll do this through the estate agent. You don't need a solicitor yet, but you should have your AIP ready and ideally a solicitor lined up to instruct quickly once an offer is accepted.
Your offer can be below, at, or above the asking price depending on market conditions. In slower markets, starting below asking and negotiating is common. In competitive markets, you may need to offer asking price or above. The agent can give you a feel for what interest there is.
Once your offer is accepted, you'll need to move quickly: instruct a conveyancer or solicitor, commission a survey, and formally apply for your mortgage. The clock is now ticking.
Section 4: The Legal Process (Conveyancing)
Instruct a solicitor or conveyancer
Conveyancing is the legal process of transferring ownership of a property from seller to buyer. You'll need either a qualified solicitor or a licensed conveyancer to handle this. Both are regulated, and either will work — conveyancers often specialise exclusively in property, so can be efficient and cost-effective.
Shop around for quotes — prices vary significantly. Expect to pay between £1,000 and £2,500 for conveyancing, depending on property value and complexity. Watch for hidden costs in the quote — make sure it includes disbursements (third-party costs like searches and Land Registry fees).
For a step-by-step breakdown of what your conveyancer actually does, see our guide: The UK Conveyancing Process Explained Step by Step.
Surveys: which one do you need?
Your mortgage lender will carry out a basic valuation to confirm the property is worth what you're paying. This is for their benefit, not yours. You should commission your own survey separately.
| Survey Type | Best For | Typical Cost |
|---|---|---|
| RICS Home Survey Level 1 (Condition Report) | Modern, conventionally built properties in good condition | £300–£500 |
| RICS Home Survey Level 2 (Homebuyer Report) | Most standard properties — highlights key issues | £450–£900 |
| RICS Home Survey Level 3 (Building Survey) | Older, larger, or unusual properties — very detailed | £700–£1,500+ |
For anything other than a brand-new build, a Level 2 or Level 3 survey is strongly recommended. The cost may seem significant, but it can save you thousands by revealing problems before you're legally committed — and it gives you leverage to renegotiate the price.
What conveyancing searches involve
Your conveyancer will carry out a series of searches to check for issues that might affect the property or your decision to buy. The main ones are:
- Local authority search — planning history, road schemes, enforcement notices
- Water and drainage search — whether the property is connected to public sewer
- Environmental search — flood risk, contaminated land, nearby landfill
- Land Registry search — confirms ownership and any charges on the property
Searches can take 2–6 weeks depending on your local authority. This is one of the biggest variable factors in how long your purchase takes.
The mortgage formal application
Once your offer is accepted, you'll move from your AIP to a full mortgage application. Your lender will ask for extensive documentation: payslips, bank statements, tax returns (if self-employed), proof of deposit, and identification. Be prepared to provide 3–6 months' worth of most documents.
The lender will conduct a full credit check at this stage (which does appear on your credit file). Assuming everything checks out, they'll issue a mortgage offer — a formal document confirming they'll lend you the money. Most mortgage offers are valid for 3–6 months.
Section 5: Exchange and Completion
Exchange of contracts
Exchange is the moment the sale becomes legally binding. Before this point, either party can withdraw — frustratingly, with no obligation to compensate the other side (except in Scotland, where it works differently). After exchange, neither party can pull out without financial penalty.
At exchange:
- You'll pay your deposit (usually 10% of the purchase price) to your solicitor, who holds it until completion
- A completion date is agreed — usually 1–4 weeks after exchange
- Buildings insurance must be in place from this date
- The sale is legally binding
Completion day
Completion is the big day — when the remaining money is transferred, ownership legally changes hands, and you get your keys. Your solicitor handles the money transfer. Once it's confirmed, the estate agent will release the keys to you.
Completion usually happens in the afternoon, as the money transfer takes time. Try not to book removal vans for very early morning — delays happen.
How long does the whole process take?
From offer accepted to completion: typically 12–16 weeks, though it varies. A simple purchase with no chain can complete in 6–8 weeks; a complex chain can stretch to 6 months or more. For a detailed breakdown of timelines at each stage, see our guide: How Long Does it Take to Buy a House in the UK?
Section 6: Moving In
Before moving day
The weeks before your completion date are busy. Here's what to organise ahead of time:
- Book a removal company (or van hire) — do this as soon as you have a completion date
- Notify your current landlord of your move-out date
- Set up mail redirection with Royal Mail
- Start the change-of-address process: DVLA, HMRC, bank, employer, NHS, GP, dentist, HMRC, insurances, subscriptions
- Arrange broadband installation for your new address — BT Openreach often needs 2–4 weeks lead time
- Check what's included in the sale (fixtures and fittings, white goods) — should be confirmed in the contract
On moving day
- Take meter readings the moment you walk in (gas, electricity, water if applicable)
- Take photos of every room and any existing damage
- Locate the stopcock (water shut-off), fuse box, and gas meter
- Check all keys work and the locks function properly
- Change the locks if you're concerned about who else may have a copy
First week priorities
- Contact energy and water suppliers to register at the new address using your meter readings
- Set up council tax account with your local authority
- Register with a local GP and dentist
- Update your address on the electoral roll (gov.uk/register-to-vote)
For a complete moving checklist covering every step from 8 weeks out to after you've moved in, see our Moving House Checklist. And for a comprehensive overview of every step of the UK buying process, our UK House Buying Process guide goes into even more detail.
Section 7: Government Schemes and Help Available in 2026
Several government schemes exist specifically to help first-time buyers get onto the property ladder. The landscape has shifted since the closure of Help to Buy in 2023, but there is still meaningful support available — and more may be coming.
Lifetime ISA (LISA)
The Lifetime ISA is one of the most valuable tools available to first-time buyers. Here's how it works:
- Open between the ages of 18 and 39
- Save up to £4,000 per tax year
- The government adds a 25% bonus — up to £1,000 per year, free money
- Use the savings (and bonus) as a deposit on a first home worth up to £450,000
- Or use it for retirement from age 60
- Withdraw penalty-free only for qualifying first home purchase or retirement — withdrawing for other reasons incurs a 25% penalty that effectively eats into your savings
If you max out a LISA for 5 years, you'd save £20,000 and receive a £5,000 government bonus on top. If you and your partner both open one, you could accumulate £10,000 in government bonuses between you.
Note: the government is currently reviewing the LISA, with potential changes expected during 2026. Keep an eye on developments. The official Lifetime ISA information is on GOV.UK.
Shared Ownership
Shared Ownership lets you buy a share of a home — typically between 25% and 75% — and pay subsidised rent on the remaining share to the housing association. It's a government-backed scheme designed for buyers who can't afford to purchase outright on the open market.
Key facts for 2026:
- Household income must be under £80,000 (£90,000 in London)
- Your deposit is calculated on the share you're buying, not the full property value — so it's significantly smaller
- You can "staircase" — buying additional shares over time until you own the property outright
- Rent is typically set at around 2.75% of the unsold share value per year
- Properties are usually leasehold and carry service charges
- Available for new-build and some resale properties
Shared Ownership is a genuinely useful route onto the ladder for many buyers — but it comes with complexity. Be aware of service charges, restrictions on modifications, and potential resale constraints. Get legal advice from a solicitor experienced in shared ownership transactions.
First Homes scheme
The First Homes scheme, managed by the government in England, allows eligible first-time buyers to purchase new-build homes at a 30%–50% discount on the open market value. The discount is then "locked in" — when you sell, it must be to another eligible first-time buyer at the same percentage discount.
Eligibility requirements:
- Must be a first-time buyer, aged 18 or over
- Annual household income no more than £80,000 (£90,000 in London)
- Must be able to get a mortgage for at least 50% of the discounted price
- Local councils may add additional criteria (e.g., preference for key workers or local residents)
More information is available at GOV.UK's First Homes scheme page.
Freedom to Buy (Mortgage Guarantee Scheme)
In July 2025, the government launched a permanent Mortgage Guarantee Scheme — referred to as "Freedom to Buy" — replacing the previous temporary scheme. It works behind the scenes: the government provides a guarantee to lenders, encouraging them to offer 95% LTV mortgages (i.e., 5% deposit mortgages).
You don't apply for this scheme directly. Instead, look for lenders offering 95% LTV mortgages — many already do so regardless of the scheme. HomeOwners Alliance notes that many lenders offer 95% mortgages without using the scheme, so its presence in the background shouldn't materially affect your mortgage search.
Help to Buy: what happened to it?
Help to Buy — the equity loan scheme that helped hundreds of thousands of first-time buyers purchase new-build homes with a 5% deposit and a government loan of up to 20% (40% in London) — closed to new applications in October 2022 and fully wound down in May 2023.
As of early 2026, there are active discussions within government about potentially introducing a successor scheme, with housebuilders and the Home Builders Federation pressing for a new version. The government has so far said it has no current plans for a new Help to Buy, but the conversation is ongoing. Watch this space — if a new scheme launches, we'll update this guide.
Schemes in Scotland, Wales, and Northern Ireland
Housing schemes vary by nation:
- Scotland: Open Market Shared Equity scheme and the New Supply Shared Equity scheme are the primary support mechanisms
- Wales: The Help to Buy Wales scheme provides equity loans for new-build purchases — currently still active in Wales
- Northern Ireland: Co-Ownership Housing scheme allows shared ownership purchases
Check GOV.UK's affordable home ownership schemes page or your devolved government's housing authority for the most up-to-date options in your nation.
Stamp Duty for First-Time Buyers in 2026
Stamp Duty Land Tax (SDLT) in England and Northern Ireland changed significantly on 1 April 2025, when temporary higher thresholds put in place in 2022 reverted to lower levels. This matters — if you've read older guides, the figures have changed.
Current rates for first-time buyers (from April 2025)
| Purchase Price | SDLT Rate |
|---|---|
| Up to £300,000 | 0% |
| £300,001 to £500,000 | 5% (on this portion only) |
| Over £500,000 | First-time buyer relief does not apply — standard rates instead |
Source: GOV.UK Stamp Duty Land Tax rates
In practical terms:
- Buy at £280,000 → £0 stamp duty
- Buy at £350,000 → £2,500 (5% of £50,000 above £300k)
- Buy at £500,000 → £10,000 (5% of £200,000 above £300k)
Before April 2025, a first-time buyer purchasing at £350,000 paid nothing. Now they pay £2,500. It's not enormous, but it's money you need to have saved. Factor this into your budget from day one.
For detailed stamp duty calculations and to see exactly how much you'll pay, use our Stamp Duty Calculator.
UK House Prices by Region: 2026 Overview
Understanding where prices are and where they're heading can help you make better decisions. According to the UK House Price Index for December 2025 (GOV.UK), the average UK house price was £270,000, with significant regional variation.
| Region | Average Price (Dec 2025) | Annual Change |
|---|---|---|
| London | £551,000 | -1.0% |
| East of England | £338,000 | +1.5% |
| South East | £379,000 | 0.0% |
| South West | £301,000 | +0.3% |
| East Midlands | £244,000 | +2.4% |
| West Midlands | £246,000 | +2.0% |
| Yorkshire & the Humber | £208,000 | +3.3% |
| North West | £217,000 | +4.5% |
| North East | £165,000 | +4.6% |
| Wales | £215,000 | +5.0% |
| Scotland | £193,000 | +4.5% |
| Northern Ireland | £193,000 | +7.1% |
The north-south divide in the UK housing market is very much in evidence. First-time buyers in the North East, North West, Yorkshire, Scotland, and Northern Ireland face far lower barriers to entry than those in London and the South East. Northern and Midlands markets are also seeing stronger price growth, suggesting continued momentum for 2026.
Zoopla forecasts average UK house prices to rise by approximately 1.5% in 2026, with stronger growth expected to continue in northern England, Scotland, and Northern Ireland.
Your Step-by-Step Checklist
Feeling more confident now? Here's the whole journey distilled into the key actions to take at each stage. For the definitive, itemised checklist covering every action from start to finish, see our UK House Buying Checklist.
- Check your finances — Understand what you can borrow, what deposit you need, and all the associated costs
- Start saving (strategically) — Open a Lifetime ISA if you're eligible, and consider a Help to Buy ISA if you still have one
- Sort your credit score — Register to vote, clear debts, avoid unnecessary applications
- Get an Agreement in Principle — From a broker or direct with a lender
- Find a solicitor — Get quotes now, before you're in a hurry
- Search for your home — Rightmove, Zoopla, local agents
- View properties — At least twice, at different times of day
- Make an offer — With your AIP ready
- Instruct your solicitor — The moment your offer is accepted
- Commission a survey — Level 2 as a minimum for most properties
- Apply formally for your mortgage — Gather all your documents
- Await searches, mortgage offer, legal enquiries — This is the waiting phase
- Exchange contracts — Legal commitment. Pay deposit.
- Prepare to move — Book removals, set up utilities, notify everyone
- Completion day — Get your keys. You're a homeowner.
Frequently Asked Questions
How much deposit do I need to buy my first home in the UK?
Most lenders require a minimum 5% deposit, though 10% or more will give you access to better mortgage rates. On the average first-time buyer property of around £228,000, a 5% deposit is approximately £11,400 and a 10% deposit is £22,800. The amount you need varies significantly by region — buyers in London typically need far more than those in the North East or Scotland.
What is stamp duty for first-time buyers in 2026?
From 1 April 2025, first-time buyers in England pay no stamp duty on the first £300,000 of a property's value, and 5% on the portion between £300,001 and £500,000. If your property costs more than £500,000, you lose the first-time buyer relief and pay standard rates. On a £350,000 home, you'd pay £2,500. Scotland, Wales, and Northern Ireland have their own taxes with different thresholds. Use our Stamp Duty Calculator to work out your exact figure.
How long does it take to buy a house in the UK?
From having an offer accepted to completion typically takes 12–16 weeks (roughly 3–4 months), though it can be shorter or longer depending on your chain and how quickly searches and surveys are completed. Before that, finding a property and getting an AIP can add several weeks or months. Budget for the full process to take 6–12 months from when you start seriously preparing. Our full timeline guide breaks down every stage.
What government schemes are available to first-time buyers in 2026?
The main government support schemes currently available in England include: the Lifetime ISA (save up to £4,000/year, receive a 25% government bonus up to £1,000/year), Shared Ownership (buy a 25–75% share, pay rent on the rest), the First Homes scheme (buy a new-build at 30–50% discount), and Freedom to Buy (mortgage guarantee backing 95% LTV mortgages). Help to Buy closed in 2023, though a replacement may be coming. Wales retains its own Help to Buy equity loan scheme. Scotland and Northern Ireland have separate equivalent schemes.
What is a mortgage in principle and do I need one?
A mortgage in principle (AIP) is a written statement from a lender indicating how much they'd lend you, based on a soft credit check. Most estate agents and sellers want to see one before accepting an offer — it shows you're a serious, qualified buyer. Getting one is free, takes about 30 minutes online, and doesn't commit you to any lender.
You've got this.
Buying your first home in the UK in 2026 is genuinely achievable — and in some important ways, the conditions are better than they've been in years. Mortgage rates are falling. First-time buyer numbers hit a near-decade high in 2025. Lenders are offering more competitive 90% and 95% LTV deals. And if you haven't yet looked into the Lifetime ISA, doing so today could mean thousands of pounds of free government money towards your deposit.
Yes, it's a complicated process with a lot of moving parts. But every single person who owns a home right now went through exactly what you're about to go through. The difference is knowledge — and hopefully this guide has given you a solid foundation.
If there's one thing to take away: start early, save smart, and get proper advice at each stage. A good mortgage broker and a reliable conveyancer will make the process significantly smoother. You don't have to navigate this alone.
