You don’t have to be ready to buy
If owning your first home is something you're thinking about, whether that's now, next year or simply something you'd like to understand, we can help you work out what could be possible and what you can do to get there.
Start exploring
9 steps to your first home
Talk to us
When you’re thinking of buying a home, there could be work to do before you’re mortgage ready. Speaking to a mortgage professional early could improve your position, or home ownership could be closer than you think.
Get an agreement in principle
An Agreement in Principle gives you an indication of how much you may be able to borrow, helping you understand your budget and giving you more confidence before you start looking for a home.
Find your home
Now the exciting bit. With a clearer idea of what you may be able to afford, you can start searching for a home that works for you, your plans and importantly, your budget.
Make an offer
Have you found the one? Now it’s time to make an offer on your chosen property. Your offer is usually made through the estate agent who’ll put it forward to the seller. You can negotiate on price and, once accepted, the buying process can really get moving. It’s after your offer is accepted that you’ll need to appoint your chosen solicitor.
Apply for your mortgage
Your mortgage broker will recommend a mortgage based on your needs and circumstances before submitting your full application. There are different types of mortgages available, so this is about finding one that’s right for you.
Legal work and survey
Your solicitor handles the legal side of buying your home, including searches and contracts.. Whilst your lender will carry out a valuation of the property, you can choose to instruct a more detailed survey if you want to know more about the condition of the property.
Protection
Buying a home comes with a big financial commitment. This is a good time to consider how you’d protect your home and finances if life didn’t quite go to plan. Your mortgage broker can help you find protection that’s right for you, within your budget.
Exchange
Exchange of contracts is when the purchase becomes legally binding. You’ll usually pay your deposit at this stage and you’ll need to make sure your buildings insurance is in place from exchange.
Completion (moving day!)
The money is transferred, the property officially becomes yours and you can collect the keys. Time to move in and make your first home your own.
Use our moving day checklist for things to check on day one.
Why use Hannah Miller Homes to buy your first home?
Our Experience Matters
With over 15 years' experience in financial services, we understand how lenders work and how different circumstances can be considered. We'll explain things clearly, without unnecessary jargon or assumptions.
More Than A Mortgage Application
You don't need to have found a property, have a full deposit or all the answers before talking to us — even if owning a home still feels like a long way off, we’ll help you explore what could make it possible.
With You From Plan, To Completion
Our support doesn’t stop at finding the right mortgage. We’ll be in touch throughout, guiding you through what happens next and keeping you updated, right through to getting the keys to your first home.
Deposit
Usually at least 5% of the property price, although the amount you need will depend on the mortgage available to you.
Solicitor & legal costs
Allow around £1,500–£2,000+ for the legal work, searches and other costs involved in buying your home. Costs vary by property and solicitor.
Survey
Around £400–£700 for a typical Level 2 survey. A more detailed survey can cost £1,000+, depending on the property.
Removals
Depending on what you have to move, you may need to pay for a removals service or large vehicle hire. this could range from £150-£1000+ depending on what, and how far you’re moving
How much does it cost to buy a home?
Mortgage fees
Some mortgages have no product fee, while others can have a fee of £1,000 or more. The cheapest rate isn't always the cheapest mortgage overall.
Stamp Duty
You may pay £0 as a first-time buyer, depending on the property price and your circumstances.
Getting settled
Don't forget furniture, decorating and all those smaller costs that come with turning the property into your home.
These are guide figures only. Your actual costs will depend on the property, your mortgage and the services you choose.
Tips for being ‘mortgage ready’
01 — Know your numbers
Understand your income, your committed expenditure, regular spending and what you'd feel comfortable paying each month for your home.
02 — Get your finances in shape
Check your credit file, make sure you're on the electoral roll and remember any borrowing you have could impact how much you could borrow for a mortgage. Consider what expenditure is essential. (We partner with Check My File, use the link below to check your credit file and start your free trial)
03 — Get your paperwork ready
Have your payslips, bank statements and deposit evidence to hand. What you'll need can vary depending on how you earn your income.
04 — Start the conversation early
You don't need to have found a home. Getting mortgage ready early means you have the chance to get your finances and credit in the best position before you apply. Start the conversation early so you know where you stand when the right home comes along.
You don’t need to have everything figured out before talking to us. Whether you’re ready to buy or home ownership still feels a long way off, we can help you understand what could be possible and start putting a plan in place.
It’s not too soon to get in touch
Frequently Asked Questions
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The deposit you’ll need will depend on the property, mortgage and lender. Some mortgages may be available with a 5% deposit, although having a larger deposit could give you access to different mortgage options and rates. We can help you understand what could be possible based on the deposit you have — or the one you’re working towards.
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How much you may be able to borrow isn’t based on income alone. Lenders will consider your income, regular spending, financial commitments, credit history and other circumstances. Different lenders assess affordability differently, so speaking to a mortgage broker can help you understand your options.
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You don’t need to wait until you’ve saved your full deposit or found a property. Speaking to a mortgage broker early can help you understand how much you may be able to borrow, what deposit you could need and whether there’s anything you can do now to get mortgage ready.
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An Agreement in Principle (AIP), sometimes called a Decision in Principle, gives an indication of how much a lender may be prepared to lend based on some initial information and checks. It isn’t a mortgage offer, but it can help you understand your budget before looking for a home.
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Potentially. Your credit score is only part of a lender’s assessment, and lenders have different criteria. Your wider credit history, income, affordability and circumstances can all be considered. It’s worth understanding your credit report before applying for a mortgage.
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Absolutely. You don’t need to have everything figured out before you start planning. We can help you understand where you are now, what could be possible and the steps you could take towards becoming mortgage ready — even if buying your first home is still some way off.
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It may be possible. You don’t always need to have been in the same job for a set period before getting a mortgage, and some lenders may consider applicants who have recently started a new role. The options available will depend on your individual circumstances.
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Yes, being self-employed doesn’t prevent you from getting a mortgage. The information lenders require and the way they assess your income can vary, so it can be particularly useful to understand which lenders may suit your circumstances.
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Your deposit isn’t the only cost to consider. You may also need to budget for solicitor and conveyancing costs, searches, a survey if you choose one, moving costs and potentially mortgage-related fees. There may also be Stamp Duty Land Tax depending on the property and your circumstances.
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First-time buyers in England and Northern Ireland may qualify for Stamp Duty Land Tax relief if they meet the relevant conditions and the property is within the qualifying limits. The amount payable depends on the purchase price and your circumstances, so it’s important to check the current rules when you're ready to buy.
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Once your offer is accepted, there’s still a process to complete before the home becomes yours. This will usually include your full mortgage application, valuation, legal work and potentially a survey, followed by exchange of contracts and completion.
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There isn’t one set timeframe. How long it takes can depend on the property chain, mortgage application, legal work, searches, surveys and whether any issues arise along the way. Your mortgage broker and solicitor will each play different roles in helping your purchase progress.