The average first-time buyer in the UK takes 18 to 22 weeks from accepted offer to getting the keys. That’s roughly five months of waiting, chasing, and hoping nothing falls through. But the real timeline depends on three things that most guides gloss over: how much deposit you actually need in your region, the stack of costs that sits on top of that deposit, and how quickly you move in the first two weeks after your offer is accepted.
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This article is general information only and does not constitute professional advice. For your specific situation, consult a qualified professional.
The national average of £23,000 for a 10% deposit hides wild regional differences. In London, that figure is more like £44,800. In the North East, it’s about £13,100. The risk of gazumping also varies by region — in England and Wales, sellers can accept a higher offer after agreeing to yours, which resets your timeline to zero. Here’s what you actually need to know.
A Mortgage in Principle (also called an Agreement in Principle or Decision in Principle) is a lender’s conditional offer stating how much they’d lend you. It’s what estate agents want to see before they take you seriously. Getting one before you start viewing properties means you know your price range and can move fast when the right house appears.
What I tend to notice is that first-time buyers who get their MIP before they start viewing save themselves a lot of disappointment. You don’t want to fall in love with a house only to find out a lender won’t lend you enough for it.
How Much You Actually Need: Deposit, Fees, and the Costs That Catch You Out
The average first-time buyer property price in the UK was £226,000 in January 2026, according to Shaded Canvas. A 10% deposit on that is £22,600. But the deposit is not the only number you need to have saved. The total additional costs beyond the deposit typically run to £5,000–£10,000, and many first-time buyers don’t see them coming.
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| Cost item | Typical amount | When it’s paid |
|---|---|---|
| Deposit (10%) | £22,600 | At exchange of contracts |
| Stamp duty (FTB, £300k property) | £0 | Within 14 days of completion |
| Solicitor / conveyancing fees | £1,000–£3,000 | At completion |
| Mortgage arrangement fee | £0–£2,000 | Added to mortgage or paid upfront |
| Homebuyer survey | £400–£1,000 | Booked after offer accepted |
| Building survey (older homes) | £600–£1,500 | Booked after offer accepted |
| Mortgage valuation fee | £0–£1,500 | With mortgage application |
| Removal costs | £300–£2,000 | On moving day |
| Initial furnishing | £2,000–£10,000 | After completion |
| Buildings insurance | £200–£500/year | Required from exchange |
Regional deposit averages make a huge difference to how long it takes to save. A 10% deposit in London runs to about £44,800, which at a savings rate of £320 per month takes roughly nine years. In the North East, a 10% deposit of around £13,100 can be saved in about 3.5 years at the same rate. If you’re looking at properties in the stamp duty relief range, the difference between a £300,000 and a £350,000 purchase is thousands of pounds in tax you can’t avoid.
Where First-Time Buyers Lose Time and Money
Waiting too long to instruct your conveyancer
The day your offer is accepted, you should be on the phone to a conveyancer. Every day you wait adds a day to the back end. A 5-day delay here often becomes a 2-week delay at exchange because searches and enquiries can’t start until your solicitor is instructed. The fastest first-time buyers instruct their conveyancer within 24 hours of offer acceptance. If you need help with a property legal issue, a property lawyer can answer questions about the contract pack or title issues before they become expensive surprises.
Skipping the survey or choosing the wrong type
A homebuyer report costs £400–£1,000 and flags condition issues like roof problems, damp, and timber decay. A full building survey costs £600–£1,500 and is worth every penny for properties built before 1980 or unusual conversions. The mistake is skipping the survey altogether to save money — then discovering subsidence or failed render after you’ve exchanged contracts. At that point, the repair bill is yours. If the survey flags major works, you can renegotiate the price. But you have to act fast — the longer you sit on the findings, the weaker your position.
Not having a backup plan if your mortgage offer expires
Mortgage offers typically last 3–6 months. If your purchase slides past that date, you need to re-apply. With mortgage rates around 4.4% for a 90% LTV mortgage in early 2026, a re-application in a rising rate environment could mean a higher monthly payment. The fix is to keep your mortgage application fresh — if completion looks like it’s going past the offer expiry, start the re-application process early. A whole-of-market broker can help you find the best rate without wasting time.
Underestimating how long local searches take
Your solicitor orders three searches: local authority, water and drainage, and environmental. In an efficient council, these come back in 5–10 working days. In a slow one, they can take six weeks. The mistake is not checking the council’s turnaround time before you offer. If you’re buying in a slow area, you can sometimes pay extra for faster searches, but not all councils offer this. Budget for the worst case and you won’t be caught out.
The Stage-by-Stage Timeline: From Offer to Keys
The typical purchase takes 18–22 weeks, but every stage has its own delays. Here’s what happens and when, based on a standard freehold purchase with a mortgage.
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| Stage | Weeks | What happens |
|---|---|---|
| Offer accepted | Week 0 | Get acceptance in writing, provide proof of funds and MIP, ask for it to be taken off the market |
| Instruct professionals | Weeks 1–2 | Conveyancer, surveyor, and full mortgage application — treat this as a sprint |
| Searches and enquiries | Weeks 3–6 | Council searches, water/drainage, environmental; solicitor reviews contract pack |
| Mortgage offer and survey | Weeks 6–10 | Lender’s valuation, formal mortgage offer, survey report arrives |
| Contract pack and enquiries round 2 | Weeks 10–14 | Draft contract, planning checks, leasehold pack (if applicable) |
| Exchange of contracts | Weeks 15–16 | Both sides sign, 10% deposit transferred, purchase becomes legally binding |
| Completion | Weeks 17–22 | Funds transferred, keys released, stamp duty filed, ownership registered |
Weeks 1–2: The sprint that sets the pace
This is where most buyers lose weeks. On day one after offer acceptance, you need to make three calls: your conveyancer, your surveyor, and your mortgage broker or lender. Return the client-care letter and ID the same day. Book the survey for 7–10 days out. Submit the full mortgage application. If you drag your feet here, every subsequent stage shifts right. A good rule: reply to every form or query from your solicitor within 24 hours.
Weeks 3–10: The waiting game
Searches are the biggest unknown. A reasonable council turns them around in 5–10 working days. A slow one takes six weeks. Meanwhile, your solicitor reads the seller’s property information form (TA6) and fixtures and fittings form (TA10), then fires off enquiries. “Please confirm the extension had building regs approval.” “Please supply the gas safety certificate.” Each round of questions takes time. The average first-time buyer property price of £226,000 means the mortgage valuation is usually a drive-by or desktop check — quick, but it doesn’t tell you about condition.
Weeks 10–16: Exchange and completion
Once the mortgage offer lands and the survey is back, the solicitors swap the draft contract. Your solicitor reviews it, raises final enquiries, and you both sign. Exchange of contracts is the point where you transfer the deposit (typically 10% of the purchase price) and become legally committed. If you pull out after exchange, you lose the deposit. Completion day is when the lender wires the funds, your solicitor sends them to the seller’s solicitor, and the agent releases the keys.
Upcoming changes that could affect your timeline
The Leasehold and Freehold Reform Act 2024 is gradually simplifying lease extension and freehold purchase processes. For standard freehold house purchases, the overall timeline is unchanged. But if you’re buying a leasehold flat, the new rules should eventually reduce the time spent waiting for the managing agent’s LPE1 pack — though in practice this hasn’t sped things up much yet. The stamp duty threshold change from April 2025 affects how much you need to budget, not the timeline itself, but it has added a cost check for buyers in London and the South East where average FTB prices exceed £300,000.
Frequently Asked Questions
Can I buy a house with a 5% deposit in 2026? ▾
What happens if the seller pulls out before exchange? ▾
How long does a Lifetime ISA bonus take to arrive? ▾
Do I need a mortgage broker or can I go direct to a lender? ▾
What’s the fastest possible timeline for a first-time buyer? ▾
Your Timeline Is Yours to Control — But Only Up to a Point
The 18–22 week average is a guide, not a guarantee. What you can control is how fast you move in the first two weeks, how quickly you respond to your solicitor, and whether you’ve budgeted for the costs that sit on top of the deposit. What you can’t control is how fast the council returns searches, how responsive the seller’s solicitor is, or whether the chain holds together. The best strategy is to move fast on the things you can control and have a buffer — both in time and money — for the things you can’t.
Remember: this article is general information only. For advice on your specific situation, speak to a qualified professional.
If this was useful, you might also want to read Top Tips for Home Location Accessibility in the UK.
Sources and Further Reading
Is the Great British Dream of Homeownership Officially Dead? — A look at affordability trends and what they mean for first-time buyers in 2026.
Apartment or House: UK Buyers Weigh the Pros and Cons — A practical comparison for first-time buyers deciding between property types.
Pocketwise (2026). First-Time Buyer Complete Guide. 🔗
We Move Together (2026). First-Time Buyer UK Complete Guide 2026. 🔗
Shaded Canvas (2026). First-Time Buyer Statistics UK 2026. 🔗
Offrly (2026). How Long to Buy a House UK Timeline. 🔗
