Buying your first home in England or Wales can feel overwhelming, especially if you’re unsure how the process works or how long things take. From making an offer and applying for a mortgage to exchanging contracts and getting the keys, there are several important stages to understand.
This guide explains how to buy a house in England and Wales step by step, so you know what happens, when it happens, and how to prepare.
Step 1: Affordability Check
Before you start house hunting, it’s important to understand what you can comfortably afford when buying your first home.
A mortgage adviser or lender will assess:
- Your income
- Your regular outgoings
- Credit commitments
- Your deposit
This helps set a realistic budget and ensures you don’t overstretch yourself.
Step 2: Decision in Principle (DIP)
A Decision in Principle (DIP) gives an indication of how much a lender may be willing to lend you when buying your first home.
While not guaranteed, most estate agents will ask to see a DIP before accepting an offer, as it shows you’re a serious buyer. Some DIPs leave a footprint on your credit file, so it’s worth discussing this with your adviser first.
Step 3: Find a Property & Make an Offer
Once you find a property you like, you make an offer directly to the estate agent.
Offers in England and Wales are not legally binding at this stage, which means negotiations can continue after acceptance and this can happen for a variety of reasons, down valuations, timescales, etc.
Step 4: Choose a Conveyancer (Solicitor)
A conveyancer (also known as a solicitor or licensed conveyancer) handles the legal aspects of buying your property and we at Munro Mortgages can help you find one.
They will:
- Carry out legal checks
- Liaise with the seller’s solicitor
- Act for both you and your lender
It’s best to choose a conveyancer early, although they’re usually formally instructed once your offer is accepted.
Step 5: Full Mortgage Application
Once your offer has been accepted, your mortgage adviser submits your full mortgage application.
You’ll usually need:
- Proof of income (payslips, P60s or accounts if self‑employed)
- Bank statements
- ID and address verification
Step 6: Valuation, Surveys & Conveyancing
Your lender will arrange a mortgage valuation to confirm the property is suitable security for the loan. This is for the lender’s benefit and doesn’t highlight defects.
You may also choose to arrange an independent survey, such as:
- RICS Home Survey – Level 2
- RICS Home Survey – Level 3 (full structural survey)
At the same time, your conveyancer begins detailed legal work on the property.
Step 7: Mortgage Offer Issued
Once the lender is satisfied with your application and valuation, they issue a formal mortgage offer.
Your conveyancer reviews the offer and confirms any conditions before progressing.
Step 8: Exchange of Contracts
Once all legal work is complete, contracts are exchanged.
At exchange:
- The contract becomes legally binding
- You pay your deposit
- You must have buildings insurance in place
A completion date is also agreed.
Step 9: Completion & Moving In
On completion day, the balance of funds is transferred and the estate agent releases the keys.
Congratulations, you’re officially a homeowner.
Need help buying your first home in England or Wales? Munro Mortgages supports first time buyers throughout the entire journey, from affordability checks to moving day.
This article is for information only and does not constitute financial or mortgage advice. Your home may be repossessed if you do not keep up repayments on your mortgage. Munro Mortgages is a trading style of The Lending Channel, authorised and regulated by the Financial Conduct Authority (FCA), FCA number 626787.
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