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Understand. Prepare. Buy.

The six stages

Every purchase is different, but the order is broadly the same. You can use each stage on your own — or ask for help at any point.

  1. 1

    Preparation

    Decide why, when and where you want to buy — and what kind of home you need.

    • Write down why you want to buy and your rough timescale.
    • Decide who is buying: alone, as a couple or as a family.
    • List two or three areas you would consider, and why.
    • Separate must-haves from nice-to-haves.
    Open stage: Preparation
  2. 2

    Money

    Understand your deposit, the extra costs of buying and what you can comfortably afford each month.

    • Add up the savings you can use for a deposit.
    • Estimate your other buying costs (solicitor, survey, fees, moving, possible tax).
    • Keep a buffer for emergencies after you move in.
    • Work out a monthly payment you are comfortable with — not just the maximum.
    Open stage: Money
  3. 3

    Mortgage Ready

    Understand how mortgages work, speak to an adviser and get an Agreement in Principle.

    • Learn the key terms: AIP, LTV, fixed rate, term, product fee.
    • Decide whether to use a mortgage broker or go to a lender directly.
    • Check any adviser on the FCA Register.
    • Prepare the information an adviser normally asks for.
    Open stage: Mortgage Ready
  4. 4

    Search & Offer

    Search, view and compare homes, then make a sensible offer.

    • Create your property brief.
    • Set up alerts on property portals for your areas and budget.
    • Visit areas at different times of day.
    • Use the viewing checklist at every viewing.
    Open stage: Search & Offer
  5. 5

    Mortgage & Legal

    After your offer is accepted: solicitor, mortgage application, valuation, survey, searches and enquiries.

    • Instruct a solicitor or licensed conveyancer and complete their ID and source-of-funds checks.
    • Tell your mortgage adviser your offer is accepted so the full application can start.
    • Decide which survey you want and book it.
    • Reply quickly to requests from your solicitor and lender.
    Open stage: Mortgage & Legal
  6. 6

    Exchange & Keys

    Sign, exchange contracts, complete and collect your keys.

    • Read and sign the contract and mortgage deed when your solicitor asks.
    • Agree the completion date with everyone in the chain.
    • Transfer the deposit and balance to your solicitor in good time — confirm bank details by phone.
    • Arrange buildings insurance by the date your solicitor and lender require.
    Open stage: Exchange & Keys