Buying guide 18/02/2025

Our Guide for First-time Buyers

Are you a first time buyer in search of your dream home? It can be a nerve-wracking yet exciting experience. While you might want to move in right away, there are several steps to consider. That’s why we have prepared a comprehensive guide for first time buyers to put your mind at ease and help you navigate the process when looking for your first home.

“What happens when I first visit a Keepmoat development?”

Once you’ve made an enquiry and you’ve booked to visit a development, you’ll be greeted by a Sales Executive who will work with you to understand your requirements in the home.

One of the most essential parts of house hunting for any buyer is saving for a deposit. It’s important to think about your requirements, such as:
●   How many bedrooms do you need?
●   What area are you looking to buy in?
●   If you’d like a garden, etc.

These factors will inform how much of a deposit you will need and will help our Sales Executive to understand which type of home is right for you. Once this has been agreed, you’ll receive a tour of our showhome and we’ll help you understand the different types of homes available and the associated price point.

The average house deposit in the UK is 15 percent, which is a fairly significant amount to save for. With Keepmoat, we offer a range of other schemes and incentives aimed to get you moving. It's essential to consider what is affordable within your budget.

“Is there anything I can take away after my visit?”

Yes! You’ll receive a brochure, site map and a price list so you can consider your preferred home type, style and specification. The site map will help you understand where in the development each home will be located, meaning you can shortlist preferred spots!

Speaking with a mortgage advisor

As a first time buyer, it's really important to speak with a mortgage advisor as applications tend to be more challenging. Mortgage advisors can provide you with useful knowledge to help make the process easier. This consultation will also help with understanding what you can afford.

Additional fees

Many people may think that first-time buyers don’t pay additional fees such as stamp duty, however, this is not the case. It’s important to also budget for costs such as removal services, taxes, insurance, solicitor fees, stamp duty and land tax.

Stamp duty is a government tax on homes, but first-time buyers may have different rates.

In Scotland, the equivalent of stamp duty is land and buildings transaction tax (LBTT). For first time buyers in Scotland, LBTT only applies on properties over £175,001.
Mortgage lenders usually require a valuation of the property, which can cost around £150-£200.
Budget for conveyancing fees ranging from £500-£1,500, plus 20% for VAT.
Additionally, first time buyer mortgage providers may charge a transfer fee of around £40-£50.

To view the latest stamp duty updates, visit our stamp duty changes webpage here.

“How can you help me buy my dream home?”

Speak to your Sales Executive to discuss buying schemes, selling your current home and individual development offers. We’ve created helpful schemes to get you started…

Easymove
As the name suggests, Easymove makes selling your property easy. We manage the sale of your existing home for you, so you have more time to think about how great your new one is. Plus, we’ll even pay your estate agent fees which could save you a small fortune.

Deposit Unlock
Deposit Unlock is a scheme to help all types of buyers purchase a brand new home, with just a five percent deposit. Whether you’re buying your first home, or your next one, this gives you the freedom to buy, without needing a big deposit or lots of equity in your home.

Developed by the Home Builders Federation, the home building industry and mortgage lenders, it provides homebuyers with 95% loan-to-value mortgages at competitive rates.

Ready Now Homes
Get on the housing ladder in four weeks with a Ready Now home! These homes are available right now across multiple developments and regularly feature fantastic deals to help you get moving.

Whether you're a first-time buyer stepping onto the property ladder or looking to downsize to a more manageable home, you’ll be sure to find something you’ll love with our exclusive Ready Now homes.

Browsing homes and putting in an application

As mentioned, it's key to list out what you’re looking for in your home to find the perfect property for your budget and needs.

When applying for a mortgage you will need to provide evidence of your income, credit commitments and spending, so it's important to start saving documents such as utility bills for this.

Next steps and moving in

Once your offer and application have been approved, it's time to start thinking about the details of your move. When you have your completion date and move-in date, it's important to schedule a removal van to help move your belongings. This will make the process easier and less stressful.

When you've moved in, it's time to personalise your home. You may want to keep some savings aside for this but think logically about what you'll need initially rather than what you want.

We hope all first time buyers find this guide useful – whether you’re moving into a new build or renovating an older house, share your photos and top tips using the hashtag #Keepmoat, we’d love to see your posts!