First-time buyer hub
Buying your first home in the UK touches mortgages, savings, stamp duty, insurance and conveyancing. This hub pulls together the guides, calculators and quick answers that come up most often — from how much you can borrow to what happens between exchange and completion.
Last reviewed:
The ordered steps
1. Work out what you can afford
Most lenders cap mortgages at around 4.5 × annual income, adjusted for outgoings and credit commitments. Use the affordability calculator to get a realistic ceiling before house-hunting, then sense-check the monthly cost with the repayment calculator. Loan-to-value (LTV) drives the interest rate you'll be offered — the lower the LTV, the cheaper the rate band.
2. Build the deposit (and consider the LISA if you qualify)
You can pay up to £4,000 a year into a Lifetime ISA between ages 18–39 and get a 25% government bonus on top. If you buy a first home under £450,000 and have held the LISA at least 12 months, you can use it without the early-withdrawal penalty.
3. Understand the stamp duty rules for first-time buyers
First-time buyers pay no Stamp Duty Land Tax on the first £300,000 of a property up to £500,000 in England and Northern Ireland (thresholds in effect from 1 April 2025). Scotland and Wales have their own equivalents (LBTT and LTT) with different reliefs.
4. Apply for the mortgage and get conveyancing in motion
Most brokers will run a soft-search Agreement in Principle first. Once you have an offer accepted, you formally apply for the mortgage and instruct a conveyancer. Buildings insurance is required from exchange — not completion.
5. Plan for the costs people forget
Survey, conveyancing, mortgage product fee, Land Registry fee, removals and a small contingency for the first three months. Budget at least 2–3% of the purchase price on top of the deposit.