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First -time Buyers

If you've never bought a property, the first thing to do is to work out how much you can afford and what you can put down as a deposit. In general you'll be able to borrow around three times your annual earnings, sometimes a bit more. If you have a partner this will rise to three times your earnings plus your partner's earnings or two-and-a-half times your joint earnings.

Ask a lender for a mortgage decision in principle. You don't have to take up that particular mortgage offer but it proves you're able to raise the loan you need and you're serious about buying a home. In fast-moving markets, having already arranged your mortgage makes you a more attractive buyer for sellers that need to move quickly. Not having to sell a home and not being in a chain, therefore, is also a clear advantage.

Some lenders offer special deals for first-time buyers, such as the ability to borrow a larger sum, more generous interest rate offers or larger cashbacks. Others will pay for your valuation fee or some of your legal fees, or waive the higher lending fee. Make sure you understand the terms and conditions of these offers, including any additional costs. Once you've had an offer accepted on a home you need to get a good solicitor or conveyancer, someone you feel will help you through the process. Ask any friends who have bought a home recently if they can recommend someone.