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First-Time Buyer Tips

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3 min read

Not sure where to start when it comes to buying your first home? The process can be extremely daunting, and you might not know where to start. Have a read a of a few top tips we have put together for First Time Buyers or get in touch and we’ll be happy to help!

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Mortgage IQ Team
Mortgage IQ team

Last updated: 25 January 2022

Get your documents prepared

As well as the usual ID and proof of address, any mortgage application will require more information including things like bank statements, payslips and pension plans. Ensure a swift process by getting these together so they are ready when you need them!

Speak to a Mortgage Adviser early

An adviser can look at your finances and help you decide what you can afford, they can then issue you with a decision in principle from a mortgage lender. Having your decision in principle in place will make you more attractive to sellers if they are looking for a speedy transaction – and it will save you time in the long run.

Set a budget and stick to it

After you have saved for your deposit and applied for your mortgage, it is important to stick to your budget. Make sure you set a clear limit and do not view properties above that if you are not willing to haggle with the seller. Decide if you are able and want to to dip into any further savings at the beginning, so you can only view properties that you can afford.

First-time buyers should consider the extra fees

Many first-time buyers are not aware of the extra fees that are involved in the buying process. Conveyancing fees, property searches, and surveys are just some of the extras that you need to be aware of. Be sure to include these in your budget calculations at the beginning so you are prepared for the extra expenses.


Are you looking for your home to be close to work, schools or in a family-centric neighbourhood? It is important to thoroughly research areas to ensure you have access to all your necessary amenities but also fits within your budget. You do not want the heartbreak of finding a place that you simply cannot afford.

Check Your Credit File

Its worthwhile checking your credit file and see what lenders see when you apply for credit, Using one of the main ones like Experian, Equifax or TrustScore will give you an insight into your finances from the lenders point of view.

You can get a copy of your file using a free trial at Check My File.

It's okay to ask questions (you're a first-time buyer!)

Buying a house is a scary and complicated process for anyone, especially if it’s your first time. Don’t feel overwhelmed by the jargon and paperwork, if you don’t know, just ask. Mortgage brokers, solicitors and estate agents know a lot!

You an chat to our team of experienced Advisers to help you, just book an appointment or contact us.


Your home may be repossessed if you do not keep up repayments on your mortgage.


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