Cashback Remortgages · First-time buyers
The First-Time Buyer Mortgage Process
Buying your first home follows a fairly consistent path, even though every case has its own details. Knowing the order of events helps you prepare documents and avoid delays.
The main stages
Set a realistic budget, get an agreement in principle, make an offer, then apply for the mortgage. The lender assesses affordability and valuers assess the property before a formal offer is issued, after which conveyancing leads to exchange and completion.
Each stage can involve waiting on third parties, so keep your paperwork ready and respond quickly to requests.
Prepare early
Gather proof of income, bank statements and ID, check your credit files and confirm the source of your deposit. Free advice at the start helps you understand which lenders suit your circumstances.
An agreement in principle sets a budget; it is not a full offer, and a property still has to satisfy the lender.
Sources and further reading
General mortgage information, not a personal recommendation. Lender criteria and scheme rules can change. Ask an adviser about your circumstances and a solicitor or tax adviser about legal or tax questions. Your home may be repossessed if you do not keep up repayments on your mortgage. Most buy-to-let mortgages are not regulated by the FCA.
Discuss the next step for your mortgage
Understand your options before you make a decision.