Residential mortgages:
First-time buyer checklist
Use this checklist before beginning your property search or submitting a mortgage application.
Completing these steps early can help you understand your budget, avoid unnecessary delays and feel more confident about buying your first home.
1. Budget & affordability
☐ I have spoken to a mortgage adviser about how much I may be able to borrow.
☐ I have considered what monthly mortgage payment I would feel comfortable with.
☐ I have allowed for council tax, utilities, insurance and maintenance alongside my mortgage payments.
☐ I have included existing commitments such as loans, credit cards, childcare and student loan repayments in my budget.
☐ I have discussed any expected changes to my income or expenditure with my adviser.
2. Credit history
☐ I have checked my credit reports for errors, missed payments or unfamiliar accounts.
☐ I am registered on the electoral roll at my current address, if eligible.
☐ My banks and credit providers have my correct name and address.
☐ I have told my adviser about any previous credit difficulties, even if these have been resolved.
☐ I will speak to my adviser before taking out new credit during the mortgage process.
3. Employment & income
☐ I can provide recent payslips and evidence of my salary being paid into my bank account.
☐ I have told my adviser if I am in a probationary period, changing jobs or working on a fixed-term contract.
☐ I can evidence any bonuses, commission, overtime or additional income I would like the lender to consider.
☐ If I am self-employed, I have discussed which accounts, tax documents and business bank statements may be needed.
4. Deposit
☐ I know how much I have available for my deposit after allowing for buying costs.
☐ I can evidence where my deposit has come from, with statements showing how it has built up.
☐ Anyone gifting money towards my deposit is willing to provide the required documents.
☐ I have told my adviser if any part of my deposit is borrowed, held overseas or coming from the sale of an asset.
☐ If I am using a Lifetime ISA or Help to Buy ISA, I have checked the eligibility rules and discussed the withdrawal or bonus process with my solicitor.
5. Buying costs
☐ I have allowed for solicitor’s fees, searches and other legal costs.
☐ I have checked whether any property purchase tax will apply, taking account of where I am buying and my circumstances.
☐ I have budgeted for any mortgage, adviser, valuation and survey fees.
☐ I have allowed for moving costs, furniture and any immediate repairs or improvements.
☐ I have considered how much money I will have left as a reserve after completion.
6. Buying plans
☐ I am clear whether I will be buying alone or with someone else.
☐ If buying jointly, we have discussed our deposit contributions, monthly payments and how ownership should be recorded with our solicitor.
☐ I have discussed any family support or home-buying scheme I plan to use with my adviser.
☐ I have considered my likely timescale, including any rental notice period.
☐ I have discussed whether an Agreement in Principle would be useful and understand that it is not a guaranteed mortgage offer.
7. The property
☐ I have considered whether the property will suit my needs over the next few years.
☐ I will tell my adviser about any unusual construction, significant defects or other features that may affect mortgage availability.
☐ If buying a leasehold property, I will ask about the remaining lease, service charges, ground rent and planned major works.
☐ I have considered which survey is appropriate and understand that a lender’s valuation is not a survey for my benefit.
☐ I will discuss any auction purchase, reservation fee or tight deadline with my adviser and solicitor before committing.
8. Documentation
☐ I have valid photographic identification and suitable proof of my current address.
☐ I can provide my address history for the period requested.
☐ I have recent bank statements covering my income, spending and deposit savings.
☐ My name, address and other personal details are consistent across my documents, or I can explain any differences.
☐ My visa or residency documentation is current, if applicable.
☐ I can provide complete, clearly legible documents in the format requested.
Frequently asked questions.
Every client and every mortgage is different, but there are some questions we are asked regularly.
From affordability and deposits to complex income, expat mortgages and specialist property finance, our FAQs explain how different lenders may approach different circumstances.
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