Start with what monthly life can afford.
Your deposit is only part of the picture. Income and the spending that continues after moving set the starting point.
Use your take-home pay alongside food, travel, credit payments, dependant costs and realistic home bills. Leave a gap visible if you do not know a cost. An unknown amount is different from a confirmed £0.
Keep three pots separate: the deposit, accessible buying-cost money and a reserve after moving. On £180,000, a 5% deposit is £9,000. With example buying costs of £6,500 and £2,000 retained cash, that is £17,500 before any tax. Those costs are examples, rather than quotes.
Does a small deposit prove a home is affordable?
No. The mortgage payment, household spending, buying costs and lender checks still need to work together.
These ticks record your own progress. They do not establish approval or legal readiness.
Look behind the deposit headline.
Compare what an option changes with the conditions and extra borrowing it brings.
The Budget sets Your First Home deposits at 2.5%-15%, with equity borrowing up to 20%. Published household-income caps are £110,000 outside London and £140,000 inside. Pre-registration is planned by the end of December 2026, applications from February 2027 and first loans from April 2027.
The first five years are interest-free. The later numerical charges and full operational rules still need checking. Your ordinary budget is not automatically given a government loan.
From 29 October 2026, a 20% LISA charge applies to above-£450,000 purchases which otherwise qualify. Other unauthorised withdrawals stay at 25%. The property cap stays £450,000. A new First Time Buyer ISA is planned for April 2029.
Is an equity loan a deposit gift?
No. It is extra borrowing alongside the mortgage. Read the repayment formula and later charges before relying on it.
These ticks record your own progress. They do not establish approval or legal readiness.
Bring back answers you can use.
A viewing helps you test how the home would work for everyday life and what needs investigating.
Look at the layout, storage, access and location. Ask about Council Tax, energy, property charges, repairs, tenure and the seller’s position. Keep what you saw separate from what someone told you.
A lender’s valuation concerns the home as security for its loan. A survey investigates its condition for you. One does not replace the other.
Does a mortgage valuation replace my survey?
No. They serve different purposes. Ask what the valuation covers and which condition survey is appropriate for the home.
These ticks record your own progress. They do not establish approval or legal readiness.
Keep the asking price and your limit separate.
An offer needs both price evidence and a check against your own funds and monthly budget.
Look at similar completed sales, condition differences and work that still needs a quote. Keep the asking price, proposed offer and private stopping point separate.
Check what is included and which conditions your conveyancer needs to investigate. An agreement in principle is an early indication, rather than a final mortgage offer. This guide does not choose an offer or value a property.
Does an agreement in principle guarantee the mortgage?
No. The lender still needs to assess the full application and the property.
These ticks record your own progress. They do not establish approval or legal readiness.
Know who owns the next action.
An accepted offer starts the mortgage, survey and legal checks.
Keep the conveyancer, mortgage contact and surveyor clear. The lender considers the application and valuation. Your conveyancer investigates title, searches, contract papers and enquiries. Your survey raises condition questions.
Record what is actually confirmed, who you are waiting for and the next update date. A written mortgage offer still has conditions and an expiry date.
Does an accepted offer mean the legal work is complete?
No. It starts further checks. Your conveyancer explains when the purchase is ready for exchange.
These ticks record your own progress. They do not establish approval or legal readiness.
Wait for the right confirmation.
For an ordinary purchase in England, exchange is normally when the contracts become legally binding.
Your conveyancer confirms when the legal work is ready. Check the final statement, mortgage conditions, funds needed and when buildings insurance should begin. Verify payment instructions on a known contact number, especially if they change.
Completion transfers the remaining money and ownership. Wait for confirmation before collecting keys. Keep meter readings, handover questions and first-week jobs together.
Does ticking this checklist establish legal readiness?
No. Your conveyancer confirms the legal position and explains the commitments before you authorise exchange.
These ticks record your own progress. They do not establish approval or legal readiness.
Choose the question to work on next.
You can make progress while some answers are still open.
Pick one useful action: refine the budget, check a scheme rule, prepare for a viewing or chase an outstanding purchase question. Use the linked tool to keep the detail in your private workspace.
If you want help with a mortgage question, speak to Rob at Lynton Mortgages. Your saved figures are not sent automatically. Keep identity documents, passwords and bank details out of your notes.
Do I have to join an email list to keep using the guide?
No. The guide and tools are available without an email address. Scheme updates are a separate, optional choice.
These ticks record your own progress. They do not establish approval or legal readiness.