The Complete First-Time Buyer Guide for 2025

Buying your first home is equal parts exciting and overwhelming. This guide walks you through the process from saving a deposit to collecting the keys.

How much deposit do I need?

Most lenders require at least 5% of the purchase price. A larger deposit — 10% or 15% — unlocks significantly better interest rates. For a £300,000 home that's £15,000 at 5%.

Stamp duty relief

First-time buyers in England and Northern Ireland pay no stamp duty on homes up to £425,000, and a reduced rate up to £625,000.

Getting a mortgage in principle

Before viewing properties, secure a decision in principle. It takes minutes, costs nothing, and tells sellers you're serious. Whole-of-market brokers can access deals you won't find on comparison sites.

The timeline

1. Decision in principle — day one
2. Viewings and offer — weeks to months
3. Full mortgage application — 2–4 weeks
4. Conveyancing and searches — 8–12 weeks
5. Exchange and completion — collect the keys

Budget for solicitor fees (£1,000–£2,000), a survey (£400–£1,500) and moving costs. And remember: don't make major purchases or change jobs mid-application — it can affect your affordability assessment.