What should a first-time buyer check before making an offer?
Work from a comfortable monthly budget as well as the purchase price. Keep money available for the legal work, moving and other purchase costs, then check the evidence behind the deposit and income you plan to use.
- Record the deposit source, including who is providing any gift.
- Gather income and regular-commitment information for an affordability discussion.
- Share the property listing, tenure and service charges when you find a home.
From a deposit to a workable plan
An agreement in principle can help you understand a possible borrowing range, but the lender still needs to assess you and the property. We work through income, commitments and the cash you want left after completion, then compare suitable products on their overall cost.
How I approach the case
We begin with what you want to achieve, your timescale and any part of the case that needs explaining. I review the evidence and suitable lender routes, then explain the available options and their costs. A recommendation follows the individual assessment; an initial conversation does not commit you to an application.
Where legal, tax or other specialist advice is needed, we identify it early so the finance fits the wider transaction. Tell me about any change in employment, borrowing, deposit or property details before proceeding.
What to prepare
- Income evidence
- Deposit statements and any gift details
- Regular commitments and living costs
- Property price and buying timescale
You do not need every document before saying hello. Start with a short outline; detailed or sensitive records should follow through an agreed secure route.
Keep money aside for legal work, the survey, moving costs and any property tax. An agreement in principle is not a mortgage offer.
Your questions, answered
Should I speak to you before viewing a property?
An early discussion can help put the deposit, monthly payment and buying costs into one budget. It also gives you time to understand what evidence is available and what needs preparing. You can then view properties with a clearer picture of your next steps.
Link to this answerCan a family gift form part of my deposit?
Explain who is providing the money, whether repayment is expected and where it came from. Gifts and loans are different arrangements and must be described accurately. The lender and solicitor will set their evidence requirements for the particular transaction.
Link to this answerDoes an agreement in principle mean the home is definitely affordable?
It is an initial indication, not a mortgage offer or a complete personal budget. The lender still assesses the full application and property. Your own budget should include bills, insurance, repairs and the cash you want left after moving.
Link to this answerMore questions about your plans
Does an agreement in principle mean the mortgage is guaranteed?
No. An agreement in principle is an initial indication based on the information and checks used at that stage. A full application, evidence review, valuation and legal work may still affect the outcome.
Further reading: MoneyHelper: mortgages and homebuying. Content updated 17 September 2026. General information; availability depends on the individual case.
