Legally binding: what it means when buying a home
A property purchase usually becomes legally binding at exchange of contracts, when both buyer and seller commit to completing the sale.
Completion: when the property becomes yours
Completion is the final stage of buying a home, when funds are transferred, ownership changes hands, and you can collect the keys.
Exchange of contracts: when your purchase becomes legally binding
Exchange of contracts is the point where your purchase becomes legally binding, setting the completion date and confirming both sides are committed.
Sold subject to contract: what it really means
Sold subject to contract means an offer has been accepted, but the sale is not legally binding until contracts are exchanged.
Property survey: what it checks before you buy
A property survey can help you spot potential issues before you buy, giving you a clearer view of the home’s condition beyond the mortgage valuation.
Mortgage valuation: why lenders check the property
A clear guide to mortgage valuations, including what they are for, how they differ from surveys, and what can happen if the valuation causes issues.
Formal mortgage offer: what it means and what happens next
A formal mortgage offer confirms your lender is prepared to lend, but you still need to complete the legal checks before exchange and completion.
Full mortgage application: what lenders check before making an offer
A full mortgage application is where the lender checks your income, documents, credit profile, and property details before deciding whether to offer you a mortgage.
How soon can you buy your first home?
Your first mortgage can feel easier to manage when you understand each stage, from your Agreement in Principle to application, offer, and completion.
5% deposit mortgages
A 5% deposit mortgage could help you explore buying sooner if saving a larger deposit feels out of reach. Here’s what to check before deciding whether this route fits your plans.