What you should know as a First Time Buyer?


Consultant Solicitor

Wed 1 August 2018 What you should know as a First Time Buyer?

Buying your first property is the first step on the property ladder but there are many factors to consider.


It is important to find a property that suits you in terms of accessible transport links into work, parking, proximity to local amenities and schools for children (if relevant). It is also worth considering that when you come to sell your property a potential buyer will also be considering these factors and therefore location, alongside other factors, can potentially influence the future marketability of your property.

Exciting ‘V’ Overwhelm

Buying your first property is both an exciting and overwhelming process. On the one hand you can be excited to get into your new dream property and move in, but on the other hand, you have lots to consider, in terms of finances, type and size of property you want to buy, speaking to agents, attending viewings, how to apply for a mortgage and choosing someone to represent you in the Conveyancing process. It is important to accept that as overwhelming as things may appear, you will achieve your end goal and the process will all be worthwhile.


When you buy a property it is standard that you will have to pay a 10% deposit from your own financial resources. As a first time buyer you will not be in a chain but occasionally your seller may accept a reduced deposit, if a reason is offered as to why you are providing a reduced deposit.

If you are obtaining a mortgage it is important to speak to a mortgage broker or direct with a lender about the amount of mortgage you can obtain. When making an offer on a property a seller will feel reassured if you can show the seller that you are able to secure a mortgage and this will also limit delays during the Conveyancing process and assist in achieving a quicker exchange and completion date. Sorting out your finances, from the outset, keeps you ahead of the process.

Stamp Duty

You could be eligible for first time buyer relief and your legal representative will guide you through the criteria.


Many parties (agents, legal representatives, lender, mortgage broker....) play a role in the Conveyancing process and as the buyer it is important that you keep the channels of communication open. Keep relations flowing with all parties especially with your seller. You have to feel comfortable to ask any questions or ask for clarity when needed.

Choose the right legal representative

Once you have made an offer on a property, and your offer is accepted, make sure you choose the right legal representative.  You want to ensure that your legal representative has capacity to deal with your case, will give your case priority and address all your concerns and enquiries, offer solutions to complex situations that my arise, lead the transaction and clarify the legal process to you, in a clear and concise manner.

The first step onto the property ladder is a very important step that needs the right guidance every step of the way to your dream home. Please feel free to contact me for guidance on the legal process on or 020 3540 4447.

Click here for more information on the services we can offer with regards to property transactions.



We use cookies to provide you with the best possible experience. We share these cookies with Google Analytics to help monitor our performance. Find out more about cookies here. Do you consent?