Buying your first home

Your deposit is a key part of the home-buying process. Whether you are saving, receiving a gift, or applying through a Co-Ownership scheme, it’s essential to organise this early—ideally before making any offers on properties.

Start by understanding how much you’ll need and ensure your funds are ready and accessible when required.

Planning ahead will help make your home-buying journey smoother and more efficient.

Our borrowing calculator will give you an idea of how much you could borrow. It considers things like your monthly salary, any debt such as credit cards, loans or hire purchase agreements and how much money you have for a deposit.

There are also fees to consider when buying a home, such as repairs, removals, solicitors’ fees and property valuation.

Then, once you’ve moved in, there are ongoing costs to think about too:

Use our repayment calculator to see the rates we have on offer, and how much repayments might be. You can try different loan amounts and repayment terms to find repayments that fit with your budget.

When you apply for a mortgage, your mortgage advisor will give you advice on the most suitable options for you.

When you know how much you could borrow, it’s time to get searching.

Property sites will let you filter searches by price, number of bedrooms, postcode, and more. You can also register with local estate agents and watch out for ‘For Sale’ signs in the area.

It’s helpful to view lots of properties, to get a good idea of what’s available in your price range.

It’s best to have your Decision in Principle (DiP) approved before making an offer. This shows the seller you’re serious about buying.

Bear in mind that the asking price is how much the seller hopes to get, so there may be some room for negotiation once you’ve settled on your bid.

Remember to tell the estate agent you’re a first-time buyer too, as not having a house to sell could make you more desirable to sellers.

Get a Decision in Principle today. It’s quick and easy.

With your Decision in Principle and deposit in place and once your offer is accepted, it’s time to apply for your mortgage.

You’ll be asked to provide some documents, like bank statements and pay slips, and your mortgage advisor will help find the most suitable options for you.

When you apply for a mortgage, we will arrange for a surveyor to inspect the property, provide a valuation, and produce a basic valuation report.This ensures the property is worth the amount being paid. We currently cover the cost of this basic valuation report.

If you would like additional checks or more detailed surveys, you will need to arrange these yourself with a professional of your choice, at your own expense. These optional surveys can help identify any potential issues with the property.

You can choose from a range of solicitors. Costs can vary so it’s good to shop around.

Your solicitor will deal with the legal side of things on your behalf, like agreeing contracts and registering you as the owner of the property. They’ll also arrange the transfer of any money you borrow to pay for the property.

You’ll need property insurance before you move in, to protect your home against damage. It’s a good idea to protect your belongings with contents insurance too.

Once everything’s done, you’re ready to put pen to paper.

After signing there’s no turning back. You’re committed to the sale and your completion date (the day you move in) will now be fixed.

You’ve done it – you now have your own home. Don’t forget to tell people like your doctor, bank and the DVLA that you’ve changed address. You can also ask Royal Mail to have your post re-directed.

After all your hard work, it’s time to invite your friends and family round for a housewarming!