Start with a Solid Nest Egg
Saving a deposit is often the first reality check for aspiring homeowners. In the UK, lenders generally want at least a 5 % deposit, but bigger is better. Around 10 % is typical, and a 25 % deposit can unlock the most competitive mortgage deals.
Think of it like feathers in a nest – the more you gather, the sturdier it feels.
NestFlex Tip: Use a Lifetime ISA to hatch your deposit. You can save up to £4,000 a year, and the government adds a 25 % bonus (check current regulationss as these can change over time)
That’s £1,000 of free “twigs” every year toward your dream nest.
Government Schemes to Feather Your Nest
The UK government runs various schemes to help first‑time buyers:
Mortgage Guarantee Scheme – aims to encourage lenders to offer 95 % mortgages, meaning you only need a 5 % deposit
Shared Ownership – lets you buy part of a property and rent the rest, so you can step onto the ladder at a lower cost
First Homes Scheme – provides discounts of 30–50 % off the market value on new‑build homes for local first‑time buyers
From 1 April 2025, stamp duty relief for first‑time buyers increased. There is no Stamp Duty Land Tax (SDLT) on homes up to £300,000, and a 5 % rate on the portion between £300,000 and £500,000
gov.uk
If the home costs more than £500,000, the relief no longer applies.
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The Journey: From Offer to Ownership
Get a Mortgage in Principle – This tells you roughly how much a lender will let you borrow. Lenders usually cap borrowing at about 4.5–5.5 times your salary
Choose a Conveyancing Solicitor – They’ll handle the legal work, searches and contracts. Costs vary, so shop around but do not just choose the cheapest quote – make sure the one you choose is communicative, easy to work with and has good reviews
Instruct Surveys – Basic valuations (a mortgage survey) confirm the property is worth what you’re paying. Home surveys (HomeBuyer or full building survey) can cost several hundred pounds, but they can reveal hidden issues – you decide if the house you want may need a more in depth survey – get them done quickly so if there are any hidden surprises, they can be dealt with early on in the transaction
Exchange of Contracts – This is when you need to pay your deposit, set a completion (moving) ate and become legally bound to complete (buy the house)
Complete and Move In – Collect the keys and celebrate! Don’t forget to budget for removal costs, new furniture and that first night takeaway – moving house calls for pizza.
Why NestFlex?
We’re not just agents; we’re your property partners. NestFlex manages every move as if it were our own – you are part of our flock! You can expect transparency, efficiency, a bit of tough love when needed and of course, a bit of humour thrown in. We’ll guide you through every perched‑on‑the‑edge moment until you’re comfortably roosting in your new home.