First-time buyer checklist (2025 edition)

Buying your first home is a major milestone. In 2025, the process can feel more complex than it used to be—particularly around deposits, affordability checks and the paperwork that sits behind mortgage decisions.

This checklist is designed to help you prepare in the right order, so you can move forward with clarity and confidence.

1) Get clear on your deposit target

Most mortgage lenders expect a deposit as part of the purchase. While the exact minimum varies by lender, a deposit of around 5–10% is a common starting point.

What to do now:

• Work out what deposit you can realistically save (and how quickly).
• Consider whether you’ll need to keep some cash back for costs that don’t come from the deposit.
• If you’re using savings vehicles (such as a Lifetime ISA), check the rules around timing and withdrawals.

2) Factor in the full cost of buying

A deposit is only one part of the picture. First-time buyers often underestimate the “extras” that come before you get the keys.

Common costs to budget for:

• Solicitor/conveyancing fees
• Mortgage valuation and lender-related fees
• Survey costs (where applicable)
• Moving costs
• Ongoing setup costs for the new home

A simple way to reduce stress is to list these items early and assign rough figures, even if they’re estimates.

3) Check whether government support could apply

In 2025, there are schemes intended to help first-time buyers with the upfront cost of purchasing. Availability and rules can vary by property and location.

Examples to consider:

• Shared Ownership: buy a share of a property and pay rent on the remainder.
• First Homes: purchase a home at a discount compared to market value, subject to eligibility.
• Local authority incentives: some regions may offer additional support.

What to do now:

• Identify which schemes are relevant to your target area.
• Confirm how the scheme interacts with mortgage borrowing and the type of property you’re considering.

For official guidance on government schemes, see: https://www.gov.uk/ (search for “first homes” and “shared ownership”).

4) Prepare your finances for affordability checks

Mortgage decisions are typically based on affordability—how your income and outgoings fit together, and whether the lender is comfortable with the overall risk.

What to do now:

• Review your monthly outgoings (including subscriptions, childcare, existing credit commitments and any regular spending).
• Make sure your income details are accurate and up to date.
• If you have irregular income, keep records that show how it’s earned.

The more organised your financial picture is, the smoother the process tends to be.

5) Consider getting an Agreement in Principle (AIP)

An Agreement in Principle (AIP) (sometimes called a “decision in principle”) is an early indication of how much a lender may be willing to offer, based on the information you provide.

Why it matters:

• Helps you set a realistic budget for viewings.
• Can strengthen your position when making an offer.

What to do now:

• Gather the documents and details you’ll likely need before you apply.
• Ensure the information you provide is consistent and accurate.

6) Review your credit file before you apply

Credit checks are a normal part of the mortgage process. Lenders look at how you manage credit and whether there are any issues that could affect your application.

What to do now:

• Check your credit report for errors or outdated information.
• If you find inaccuracies, address them before you submit mortgage applications.
• Avoid making major financial changes right before applying (for example, taking on new credit or making large purchases on credit).

7) Choose the right property strategy

First-time buyers often focus on the “headline” price, but the mortgage process is influenced by property type, condition and how it fits lending criteria.

What to consider:

• Whether the property is suitable for the mortgage you’re aiming for.
• Any planned works or known issues that could affect valuation.
• Leasehold considerations (if applicable), including service charges and ground rent.

8) Understand the steps after you make an offer

Once you’ve found a property and your offer is accepted, the process moves into the stages that confirm the mortgage and complete the purchase.

Typical next steps include:

• Final mortgage application (moving from early checks to a full assessment)
• Property valuation (as required by the lender)
• Legal work to handle searches, contracts and completion

Keeping track of timelines and documents can help prevent delays.

9) Build a “buffer” for the unexpected

Even with careful planning, the buying process can throw up surprises—timing changes, extra paperwork, or costs that need clarifying.

What to do now:

• Keep a small cash buffer where possible.
• Be ready for questions from your solicitor and lender.
• Avoid committing to major new expenses during the application and completion window.

10) Use professional support to reduce friction

A mortgage broker can help you navigate the options available to first-time buyers, especially where deposit size, credit history or scheme rules may affect lender choices.

What good support typically includes:

• Helping you understand which lenders may be a better fit for your circumstances.
• Assisting with the order of steps (deposit planning, AIP, application timing).
• Clarifying what information lenders will need and how to present it clearly.

Key compliance note

Your property may be repossessed if you do not keep up repayments on your mortgage.

Business lending and most commercial mortgages are not regulated by the FCA.

This content is for general information purposes only and does not constitute personal advice. Mortgage terms, eligibility and scheme availability can vary.