What to expect when buying your first home

Buying your first home can be one of the most exciting times in your life, so we want you to enjoy it. There are many different mortgage options, terms and rates available today, which can be very daunting to get your head around as a first time buyer. Here at HL Consulting, we’d like to take that stress away from you. In order to do that, we’ll find out what is most important to you and then tailor a mortgage option that not only best suits your needs, but is also the most cost effective. We’ll guide you through every step of purchasing your first property, from finding out how much you can borrow and providing you with an Agreement in Principle, to obtaining a mortgage which suits your financial situation. We want to ensure that exciting day when you pick up the keys to your first home is memorable for all the right reasons!

An expert guide to buying your first home

Here at HL Consulting we believe buying your first house should be a fun, exciting and positive experience. No one could blame you if you are finding buying your first home a bit overwhelming. First there’s the costs, gaining an Agreement in Principle, working out what mortgage you can afford, the household bills you will need to consider…and that’s before you’ve even looked at properties!

However, here at HL Consulting we believe buying your first house should be a fun, exciting and positive experience. Here’s our step by step guide to buying your first property:

  1. Obtain an Agreement in Principle – Speak with us in order to gain an AIP which will allow you to book appointments to view properties through your local estate agents.
  2. Make friends with your local estate agent – Estate Agents love first time buyers as they have no messy chains and have already been advised what their budget is. If you’re interested in a property and they know your position, it is likely you’ll get that all important viewing quickly.
  3. View properties – When viewing properties within your budget, try to remain realistic. View with an open mind. Try to imagine the property as you would decorate it and think of the excitement of what furniture and colour schemes you could go for.
  4. Make an offer – Found ‘the one’? Try not to let your heart rule over your head. Think carefully about what you want to offer and, if it’s a sought after area, get wise to gazumping and sealed bids.
  5. Find the right mortgage deal – We are an impartial, whole of the market mortgage consultancy and can scan the whole market to get the right deal for you, saving you the stress and time.
  6. Instruct a solicitor – the successful purchase of your property can be reliant on the instruction of an efficient and experienced solicitor. Here at HL Consulting, we can provide you with a list of recommended solicitors that are reasonably priced and super efficient.
  7. Arrange a survey – any mortgage lendor will require a valuation survey in order to obtain that the property is worth the money they are lending you. If you are purchasing an older property you may want to consider a property survey or full structural survey. The results of any of these surveys might mean you can re-negotiate on the selling price.
  8. Exchange of contracts – once the contract has been signed by both parties, your deposit will be transferred to the vendor’s solicitor. The completion date is then set by mutual agreement.
  9. Completion – this happens when the residual monies are transferred from your solicitor to the vendor’s solicitor. Your solicitor will call you when he money has cleared and keys can be released to you. Congratulations, you now own your first home!


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