Last updated: 9 November 2026 · Reviewed by the Adam Bernard Solicitors residential conveyancing team
A first time buyers checklist is a step-by-step list of the money, documents and legal checks you need to buy your first home. In England in 2026, the key items are: confirm you qualify as a first-time buyer, budget for stamp duty above £300,000, get a mortgage agreement in principle, instruct a conveyancing solicitor as soon as your offer is accepted, and check the lease if you are buying a flat.
Buying your first home is exciting, but missing one step can cost you thousands or delay your move by weeks. The rules also changed in autumn 2026. The government confirmed a new Your First Home equity loan scheme at the Budget on 28 October 2026. On 29 October 2026 the Lifetime ISA penalty for homes over £450,000 fell from 25% to 20%.
This checklist covers what to do before you make an offer, what happens after, and what to have ready for exchange and completion. Every figure comes from GOV.UK and other official sources, linked in the text. For the full buying process in more detail, read our step-by-step guide to buying a house in London.
Who counts as a first-time buyer?
You are a first-time buyer if you have never owned a freehold or leasehold home, in the UK or anywhere else in the world, and you will live in the property as your main home. If you are buying with someone else, every buyer must be a first-time buyer for stamp duty relief to apply.
HMRC confirms on its Stamp Duty Land Tax residential rates page that you qualify for the relief only if you and anyone you are buying with are first-time buyers. The Stamp Duty Land Tax relief guidance adds that you must intend to live in the property as your main residence.
Common situations that catch buyers out:
- You inherited a share of a home. Owning any interest in a home, even an inherited one, usually ends first-time buyer status.
- You own property abroad. A flat overseas counts, even if you have never lived in it.
- Your partner owned a home before. If they are on the purchase with you, neither of you gets first-time buyer relief.
- You are buying to let. First-time buyer relief and Lifetime ISA funds are only for a home you will live in.
If you are unsure, ask your conveyancing solicitor before you offer. Your status changes your stamp duty bill and which schemes you can use.
The first time buyers checklist, stage by stage
Buying a home in England usually takes about 12 weeks from an accepted offer to moving in, according to the government’s How to buy a home guide. Use the six stages below in order. Tick each item before you move to the next stage.
Stage 1: Get your finances ready (3–6 months before you buy)
- Check your credit file and fix any errors.
- Work out your deposit. Most lenders need at least 5%. Your First Home will allow 2.5% on eligible new builds from 2027.
- Open or review a Lifetime ISA. You must buy at least 12 months after your first payment in, so start early.
- Budget for every cost, not just the deposit: stamp duty, legal fees, searches, survey, mortgage fees, moving costs and buildings insurance.
- Speak to a mortgage adviser about how much you can borrow. From 28 October 2026, new Bank of England rules give lenders more room to lend at 4.5 times income or more.
- Get a mortgage agreement in principle. Estate agents will usually ask for one before they accept your offer.
Stage 2: Before you make an offer
- Decide between freehold and leasehold. Most flats are leasehold.
- For a leasehold home, ask the agent for the years left on the lease, the ground rent and the service charge.
- Check what is included in the sale, such as white goods, fixtures and fittings.
- Compare sold prices of similar homes nearby.
- Set a top price and stick to it.
- Get a conveyancing quote so you can move quickly once your offer is accepted.
Stage 3: After your offer is accepted
- Instruct your conveyancing solicitor the same week.
- Send ID, proof of address and proof of where your deposit comes from. Gifted deposits need a signed gift letter from the person giving the money.
- Apply for your full mortgage.
- Book a survey. A lender’s valuation is not a survey and will not tell you about defects.
- Tell your solicitor if you are using a Lifetime ISA, so they can complete the conveyancer declaration.
- Tell your solicitor about anything that matters to you, such as a view, parking or plans to extend.
Stage 4: Searches, enquiries and the mortgage offer
- Your solicitor orders local authority, water and drainage, and environmental searches.
- Your solicitor reviews the title, the draft contract and, for flats, the lease and management pack.
- Read the survey and decide whether to renegotiate the price.
- Receive your mortgage offer and check its conditions with your solicitor.
- Sign the contract and the mortgage deed.
Stage 5: Exchange of contracts
- Transfer your deposit to your solicitor in good time.
- Arrange buildings insurance from exchange. GOV.UK says you are legally responsible for the property once contracts are exchanged.
- Agree a completion date. It is often 2–4 weeks after exchange.
- Book removals and tell utility and broadband providers your moving date.
Stage 6: Completion and after
- Your solicitor sends the balance of the price to the seller’s solicitor.
- Collect your keys and take dated meter-reading photos.
- Your solicitor files the stamp duty return and pays any tax. HMRC requires this within 14 days of completion.
- Your solicitor registers you as owner with HM Land Registry.
- Update your address with your bank, employer, GP, DVLA and the electoral roll.
- Make a will that includes your new home.
Documents first-time buyers need
| Document | Why you need it |
|---|---|
| Passport or driving licence | Identity checks by your solicitor and lender |
| Proof of address (dated within 3 months) | Anti-money-laundering checks |
| 3 months’ payslips and bank statements | Mortgage application and proof of funds |
| Last 2 years’ SA302s or accounts (if self-employed) | Mortgage affordability |
| Gift letter and giver’s bank statements | Proof a gifted deposit is not a loan |
| Lifetime ISA statement | Withdrawal through your conveyancer |
| Mortgage agreement in principle, then mortgage offer | Shows the seller you can proceed |
| Visa or eVisa share code (if not a British or Irish citizen) | Some lenders ask for proof of immigration status |
How much stamp duty do first-time buyers pay in 2026?
First-time buyers in England and Northern Ireland pay no stamp duty on the first £300,000 and 5% on the portion from £300,001 to £500,000. If the price is over £500,000, first-time buyer relief does not apply and you pay standard rates on the whole price. These rates come from HMRC’s residential property rates page. The Budget on 28 October 2026 did not change them.
| Purchase price | First-time buyer pays | Standard buyer pays | Saving |
|---|---|---|---|
| £250,000 | £0 | £2,500 | £2,500 |
| £300,000 | £0 | £5,000 | £5,000 |
| £400,000 | £5,000 | £10,000 | £5,000 |
| £500,000 | £10,000 | £15,000 | £5,000 |
| £550,000 | £17,500 (no relief) | £17,500 | £0 |
Figures are for a UK-resident buyer of a single home in England. Check your own figure with HMRC’s stamp duty calculator.
Stamp duty if you are not a UK resident
If you have not been in the UK for at least 183 days in the 12 months before you buy, you usually pay an extra 2% on the whole price, even as a first-time buyer. HMRC’s guidance for non-UK residents says the surcharge sits on top of first-time buyer rates. On a £400,000 home that adds £8,000, taking the bill to £13,000.
You may be able to claim the 2% back. You need to spend at least 183 days in the UK during any continuous 365-day period, from 364 days before completion to 365 days after it. This matters for people who have just moved to the UK on a visa.
Scotland and Wales
Stamp duty applies only in England and Northern Ireland. Scotland has Land and Buildings Transaction Tax and Wales has Land Transaction Tax, each with its own rates.
Other costs to budget for
- Conveyancing fees, plus VAT
- Search fees (local authority, water and drainage, environmental)
- Survey fee (a RICS Level 2 or Level 3 survey)
- HM Land Registry registration fee
- Mortgage arrangement, valuation and broker fees
- Buildings insurance from exchange
- Removals and moving costs
- For flats: service charge, ground rent and any reserve fund contribution
Ask for a fixed-fee quote that lists every item. Our conveyancing solicitors set these out before you instruct us.
Government schemes for first-time buyers in 2026
In late 2026 first-time buyers in England can use the Lifetime ISA, the Mortgage Guarantee Scheme, Shared Ownership and First Homes. The new Your First Home equity loan opens to applications from February 2027. Some schemes can be combined, but each has its own rules, so check with your solicitor and mortgage adviser.
| Scheme | What it does | Key limits | Status |
|---|---|---|---|
| Your First Home | 20% government equity loan with a deposit from 2.5% | New builds in England only; household income up to £110,000, or £140,000 in London; local price caps | Pre-registration by end of 2026; applications from February 2027 |
| Lifetime ISA | 25% bonus on up to £4,000 a year | Open before age 40; homes up to £450,000 penalty-free | Open; replaced for new savers from 6 April 2029 |
| Mortgage Guarantee Scheme | Keeps 91–95% mortgages available | UK-wide; first-time buyers and movers | Permanent since July 2025 |
| Shared Ownership | Buy a share and pay rent on the rest | Household income up to £80,000, or £90,000 in London | Open |
| First Homes | New build sold at least 30% below market value | Price after discount up to £250,000, or £420,000 in London | Open where councils offer it |
Your First Home: the new 2.5% deposit scheme
Your First Home lets eligible first-time buyers buy a new-build home in England with a 2.5% deposit, a 20% government equity loan and a 77.5% mortgage. The Ministry of Housing, Communities and Local Government published the scheme details on 28 October 2026. The Budget 2026 document confirms £4.7 billion of funding to help about 70,000 households.
To qualify you must:
- be a first-time buyer
- buy a new-build home in England from a participating developer, within the local price cap
- live in it as your main home
- have a household income of £110,000 or less, or £140,000 or less in London
- get a mortgage from a participating lender
On a £300,000 home, GOV.UK’s example is a £7,500 deposit, a £60,000 equity loan and a £232,500 mortgage. The loan is interest-free for 5 years. Interest of 1.5% applies in year 6 and 3% from year 7.
The loan is a share of the home’s value, not a fixed sum. If the home rises in value, you repay more. GOV.UK’s example shows £64,000 repaid if the home goes up, and £56,000 if it goes down. Ask your solicitor to explain the repayment terms before you reserve.
Lifetime ISA: the 29 October 2026 change
Since 29 October 2026, using a Lifetime ISA on a first home costing more than £450,000 triggers a 20% charge instead of 25%. HMRC confirmed this in its Lifetime ISA withdrawal guidance. The 20% recovers the government bonus, so you keep your own savings. Homes at £450,000 or less have no charge.
Lifetime ISA checklist:
- Your first payment was at least 12 months before you buy.
- You are buying with a mortgage.
- Your conveyancer requests the funds. The ISA provider pays them directly to your solicitor.
- You and your conveyancer sign the declaration forms.
- The purchase completes within 90 days of your solicitor receiving the funds, unless an extension is agreed. Otherwise the money must go back into the ISA.
A new First Time Buyer ISA will replace the Lifetime ISA for new savers from 6 April 2029. It will pay a 25% bonus on homes up to £450,000. If you plan to buy before 2029, the Lifetime ISA is still the account to use.
Mortgage Guarantee Scheme
The government made the Mortgage Guarantee Scheme permanent in July 2025. It backs lenders so 5% deposit mortgages stay available across the UK. You apply through a participating lender or broker.
Shared Ownership and First Homes
Shared Ownership lets you buy between 10% and 75% of a home and pay rent on the rest, then buy more shares later. Shared Ownership homes are always leasehold, so the lease checks below apply.
First Homes are new builds sold at a discount of at least 30%. The discount stays with the home when you sell, and councils can add local rules such as a local connection.
Buying a leasehold flat: extra checks for first-time buyers
Most first-time buyers in London buy a leasehold flat, so the lease matters as much as the building. GOV.UK warns that many lenders are reluctant to lend on a property with less than 80 years left on the lease. Short leases can be costly to extend and harder to sell.
The government’s Buying or owning a leasehold home guidance says to get these facts before you commit:
- Years left on the lease
- Annual ground rent, and whether and how it increases
- Current service charge and at least the last 2 years’ charges
- Any major works planned that you may have to pay towards
- Whether ground rent and service charges are paid up to date
- Who the freeholder and managing agent are
- Any restrictions on subletting, pets or alterations
Your solicitor gets most of this from the seller’s management pack, usually on an LPE1 form. For newer blocks, ask about cladding and fire safety documents too.
Common first-time buyer mistakes
- Budgeting only for the deposit. Stamp duty, legal fees, survey and moving costs can add thousands.
- Assuming you pay no stamp duty. Relief covers only the first £300,000, and only if every buyer is a first-time buyer.
- Opening a Lifetime ISA too late. You must wait 12 months after your first payment before using it for a purchase.
- Skipping the survey. The lender’s valuation protects the lender, not you.
- Not reading the lease. Rising ground rent or large service charges can affect your mortgage and resale.
- Instructing a solicitor late. Searches and enquiries take weeks, so start the day your offer is accepted.
- Leaving insurance to completion. You need buildings insurance from exchange.
- Not explaining a gifted deposit early. Lenders and solicitors must check where the money comes from.
How a conveyancing solicitor helps first-time buyers
A conveyancing solicitor handles the legal transfer of your first home. That means checking the title and lease, running searches, dealing with your lender, exchanging contracts, paying stamp duty and registering you as owner. For first-time buyers, the solicitor also claims first-time buyer relief on the stamp duty return and completes the Lifetime ISA conveyancer declaration.
Adam Bernard Solicitors is regulated by the Solicitors Regulation Authority and accredited under the Law Society’s Conveyancing Quality Scheme. Our residential property team acts for first-time buyers across London from our High Holborn and Upton Park offices. We also offer meetings by Zoom, Teams, WhatsApp and Skype.
Useful next reads:
- Conveyancing solicitors in London
- Step-by-step guide to buying a house in London (2026)
- Make a will to protect your new home
Buying your first home? Speak to our conveyancing solicitors on 0207 100 2525 or contact us online for a fixed-fee quote.
This article is for general information only and does not constitute legal advice. Figures are correct as of 9 November 2026 and apply to England unless stated.
