What are the 8 steps to buying your first home? Get mortgage advice first, get your Agreement in Principle, search for property with confidence, make an offer, submit your full mortgage application, get a survey done, complete the legal work with your solicitor, then exchange and complete. Most first-time buyers go into this blind and look at properties before knowing what they can actually borrow — doing it in this order removes most of the stress.
This is the most important piece of advice in this entire guide. Before you view a single property, before you speak to an estate agent — speak to a mortgage broker.
Estate agents are legally obligated to take your offer seriously, but not to stop another buyer jumping in front of you. If you don't know what you can borrow, you could lose the home you love to someone who got their ducks in a row first.
A good broker assesses your income, outgoings, credit history and deposit, and finds out what you can afford across 65+ lenders — usually in one 30–60 minute conversation.
An AIP — also called a Decision in Principle or Mortgage in Principle — is a written statement from a lender confirming they'd be willing to lend you a specific amount, subject to full application and valuation.
It is not a mortgage offer. Think of it as proof you're a serious buyer. Estate agents will ask for it; without one, your offer is worth very little in a competitive market.
Now you know your budget, you can search properly — you're not guessing what you can afford, you know. When you find the one, move fast. Book a viewing within 24 hours if possible.
Your offer is just a verbal agreement at this stage — nothing is legally binding until exchange of contracts. Sellers can accept other offers, and you can withdraw. Keep communicating with your solicitor and broker to move as fast as possible.
Once your offer is accepted, your broker submits a full mortgage application — a hard credit check and full assessment of your finances. The lender will also instruct a valuation of the property.
You'll need proof of identity, proof of address, payslips and P60, bank statements, and evidence of your deposit source. Typical lender processing time: 1–3 weeks to a formal offer.
The lender's valuation confirms the property is worth what you're paying — that's for the lender's protection, not yours. You should get your own survey.
This is where most of the waiting happens. Your solicitor handles the legal transfer of ownership — instruct one as soon as your offer is accepted, don't wait.
Exchange is when you and the seller are legally committed. You pay your deposit through your solicitor — if you pull out after exchange, you lose it.
Completion is the day the money transfers and you get the keys. Your solicitor sends the funds; once confirmed, the estate agent releases the keys. You own your home.
No credit search. No obligation. Darryl personally reviews every enquiry and responds within 2 hours.
Lender criteria, rates and deposit requirements quoted on this page are indicative and subject to change without notice. Individual circumstances vary. This page provides general information only and does not constitute regulated financial advice. The Mortgage Geezer is a trading style of Access Financial Services Ltd who are authorised and regulated by the Financial Conduct Authority. The Financial Services Register number is 301173. Registered in England No. 04427489. Registered office address Access Financial Services Ltd, Unit 1 Furtho Court, Towcester Road, Old Stratford, Milton Keynes, MK19 6AN. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP YOUR REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER LOAN SECURED AGAINST IT.