Buying your first property can initially seem very daunting, but it can be broken down into 9 steps to reduce the complexity. You can get a big boost to the money you have available by opening a
Lifetime ISA, and as a member of the Armed Forces, using the Help to Buy scheme. Even if you are not thinking of buying in the next few years, consider putting a savings plan in place early to take advantage of the bonuses offered by the government, and be prepared when the property market and interest rates are more favourable (I don't know when this will happen, but history suggests it will at some point).
The
steps in buying a property are:
- The upfront costs.
- Knowing what you can afford.
- Mortgage in Principle (MiP).
- Finding a property.
- Make an offer.
- Complete the mortgage application.
- Have the property valued.
- Exchange of contracts.
- Complete and move in.
The stages above are explained in more detail by following the links below. The first link explains the options for saving and buying support: