A GUIDE TO THE HOME BUYING PROCESS
Buying a new home is one of the biggest financial decisions you’ll make in your lifetime, so it’s important to approach it with care. The process can be complex and often lengthy—but understanding the basics will help you avoid surprises and make your home-buying experience smoother and more enjoyable.
Follow these steps to guide you through the process:
Get Your Finances in Order
Start by checking how much you can borrow, determining your deposit amount, and securing a mortgage agreement in principle (AIP).
An AIP is confirmation from a lender that they’re willing to lend you a certain amount, in principle. It makes you a more attractive buyer and shows sellers you’re serious. It’s not binding—you can still choose a different lender later.
Start Saving
You’ll typically need a deposit of at least 5% of the property price. Don’t forget to budget for additional costs such as:
- Conveyancing fees
- Surveys
- Stamp duty (depending on property price and whether you’re a first-time buyer)
Find Your Dream Home
Now for the exciting part—choosing your new home!
Browse our current homes here
Put Your Current Home on the Market
If you have a home to sell, instruct an estate agent early. Even if you expect a quick sale, delays can happen—reduced offers, legal paperwork, or being part of a chain can all impact your timeline.
Find a Solicitor
Your solicitor will handle the legal aspects of the purchase. Shop around for competitive rates and ensure they specialise in conveyancing, which includes:
- Preparing property transfer documents
- Conducting searches
- Drafting and checking contracts
- Registering the property
- Handling stamp duty payments
Reserve Your Home
Once your finances are in order and you’ve appointed a solicitor, it’s time to reserve your chosen home. This typically secures the property for 28 days, during which no one else can reserve it.
Arrange Your Mortgage
Explore your mortgage options or speak to a mortgage adviser to find the best deal for your circumstances.
Get a Valuation and Survey
Your lender will arrange a valuation to confirm the property’s worth. This usually involves a fee.
A survey checks the condition of the home and highlights any potential issues.
Complete Legal Work
Your solicitor will manage the conveyancing process, ensuring ownership is legally transferred and there are no legal obstacles.
Exchange Contracts
Once legal work is complete, your solicitor will exchange contracts with the seller. You’ll pay your deposit and commit to the purchase.
We’ll then invite you to your New Home Handover, where we’ll walk you through your new home and explain how everything works.
Arrange Home Insurance
You must have buildings insurance in place from the day you exchange contracts. Most lenders require this as a condition of the mortgage.
Since you’re buying a new-build, the insurance typically starts from the day of completion.
Complete and Move In
On completion day, you become the legal owner of your new home. Your solicitor transfers the full payment to the seller, and the keys are yours—time to move in!
Note: This guide covers the home-buying process in England and does not apply to Scotland.