Buying a home in England and Wales – Step by step

04 January 2022

Buying a house follows pretty much the same pattern whether you're a first-time buyer or you have a few purchases under your belt. To help you understand what buying a home entails we have set out below, the basic Step by Step process to buying a new home in England & Wales.


1. Find a property you can afford

Before you start hunting for your new home, work out what you can afford to spend.

Also, in addition to covering your deposit consider costs such as legal fees, stamp duty, valuation fee and mortgage fees.

We can help you work out what is affordable! Peritus Private Finance offers a free no-obligation chat, we can research the whole of the market to find the best rate for you.


2. Make an offer

Once you have found the home you want to buy, make an offer. This is usually through the Estate Agents.  


3. Find the right mortgage

As we are independent we do the leg work and find the most suitable mortgage for your circumstances. Our specialist advisers carry out in-depth research to establish which Mortgage will meet your requirements based on the information you provide and we will guide you through the process so you are able to obtain a Mortgage offer to allow you to purchase your home. We will be there for you from the initial contact right until when your sale completes.


4. Arrange a solicitor

The solicitor will handle the legal work which transfers the property ownership from one person to another. Licensed conveyancers are specialist property lawyers, who do all the legal paperwork, Land Registry and local council searches, draft the contract and handle the exchange of money. We can help you find a solicitor.


5. Valuation survey & Property survey

Valuation Survey – This survey is carried out by the mortgage lender to ensure the property is worth the price you are paying. This isn’t an extensive survey to identify all the repairs and maintenance needed.

Property Survey – This is a survey that you commission to help you avoid any hidden costly problems in the future.


6. The mortgage offer

Subject to a satisfactory valuation the lender will issue a formal mortgage offer. 


7. Exchange Contracts

Before signing the contract you will need to go through it with your solicitor to check all the details are correct.

This is now a legally binding contract and you cannot pull out of the sale. If you do you forfeit your deposit money.  

Once you have exchanged you will also need to put building insurance in place.


8. Completion and final steps

Your solicitor will give you a completion statement with a clear breakdown of the money you need to give the solicitor, this will include any outstanding money owed to buy the property, stamp duty land tax, solicitors fees, telegraphic transfer.

Your solicitor will register the sale with the Land Registry for properties in England and Wales.

Sellers will need to pay their estate agent fee on completion, buyers do not have any estate agent fees.



  • The buying process can range between 6 weeks to 8 months – dependent on buyers and sellers circumstances. 
  • From mortgage offer to exchange of contracts this can take from 2 to 6 weeks. 
  • From exchange of contracts to sale – Instantly to 4 weeks.


For more information and help with your mortgage requirements call our team on 0203 745 5893 or email


Your property may be repossessed if you do not keep up repayments on your mortgage.

For mortgages, we can be paid by commission or a fee of usually £495 or a combination of both. The actual amount will depend on your circumstances.