First-Time Buyer Conveyancing Guide

A straightforward first-time buyer purchase typically takes 8–12 weeks from instruction to completion. This can be longer if you are in a chain, buying a leasehold property, or if searches or mortgage offers are delayed. We will give you a realistic timescale at the outset based on your specific transaction.

First-time buyers in England benefit from Stamp Duty Land Tax (SDLT) relief. As of April 2025, first-time buyers pay no SDLT on the first £300,000 of a property's value (reduced from £425,000 following the March 2025 threshold change), with 5% on the portion between £300,001 and £500,000. Properties over £500,000 do not qualify for first-time buyer relief. Your solicitor will calculate and submit your SDLT return as part of the conveyancing process.

Conveyancing searches are enquiries made to various authorities to reveal information about the property that is not visible on inspection. The three main searches are: (1) Local authority search — reveals planning permissions, enforcement notices, road schemes and other matters affecting the property; (2) Drainage and water search — confirms whether the property is connected to mains water and drainage; (3) Environmental search — checks for flood risk, contaminated land, and subsidence. If you are buying with a mortgage, your lender will require searches. Even if buying with cash, searches are strongly recommended.

Exchange of contracts is the point at which the transaction becomes legally binding. Both parties sign identical contracts and these are exchanged between solicitors. You pay your deposit (usually 10%) at exchange. Completion is the day you actually move in — the purchase funds are transferred, the seller vacates, and you collect the keys. There is usually a gap of 1–4 weeks between exchange and completion, though it is possible to exchange and complete on the same day.

On completion day, your solicitor transfers the purchase funds (the balance of the purchase price, minus your deposit) to the seller's solicitor. Once the funds are received, the seller's solicitor authorises release of the keys — usually via the estate agent. You can then collect the keys and move in. Your solicitor will then register the title in your name at Land Registry and submit your SDLT return.

A mortgage offer is the formal written confirmation from your lender that they will lend you the agreed amount on the agreed terms. You need a mortgage offer in place before you can exchange contracts. Your solicitor will review the mortgage offer and report to you on its conditions. Mortgage offers are typically valid for 3–6 months.

A survey is an inspection of the property's condition carried out by a chartered surveyor. It is separate from the conveyancing process. Your mortgage lender will carry out a basic valuation, but this is for their benefit — not yours. A homebuyer's report or full structural survey gives you a detailed picture of the property's condition and any defects. We strongly recommend commissioning a survey before exchange of contracts.

Yes — before exchange of contracts, either party can withdraw without legal liability. However, you may have spent money on searches, surveys and legal fees that you cannot recover. This is known as "gazumping" risk (where the seller accepts a higher offer from another buyer) or "gazundering" (where the buyer reduces their offer at the last minute). Once contracts are exchanged, withdrawal carries significant financial penalties.

Help to Buy ISAs are now closed to new applicants, but existing holders can still use their savings. Lifetime ISAs (LISAs) allow first-time buyers to save up to £4,000 per year with a 25% government bonus. Your solicitor will handle the claim for the government bonus as part of the conveyancing process. There are specific rules about when and how the bonus can be claimed — your solicitor will advise you.

A leasehold property is one where you own the property but not the land it stands on. Flats are almost always leasehold. Leasehold conveyancing involves additional legal work — reviewing the lease, obtaining a management pack from the freeholder, and checking service charges and ground rent. We will explain the implications of the lease before you commit to the purchase.