Your guide to buying your first home

Your credit rating, and credit score tells lenders how likely they are to offer you a loan or mortgage based on your past financial behaviour.

When you're ready to apply for a mortgage, we'll run a full credit check. At this stage, because this is a formal mortgage loan application, it will leave a footprint on your credit file.

Find out more information about what a credit rating is and how to improve it

Sorting out your finances before you apply for a mortgage is really important. It helps show us that you're managing your money well and ready to take on regular mortgage payments.

Get more information on your finances, including how to manage your credit rating

Is a tax you pay when buying a home in England and Northern Ireland. First-time buyers don’t pay it on homes up to £300,000. If the price is £300,001–£500,000, you pay 5% on the part above £300,000.

If you’re buying a property in Scotland the tax is called Land and Buildings Transaction Tax (LBTT). First time buyers don’t pay LBTT on homes up to the value of £175,000. For property prices above this, LBTT is incremental so you don’t pay one rate on the whole price. You only pay each tax rate on the part of the property price that falls within that band.

In Wales it’s called Land Transaction Tax and first time buyers are exempt up to the value of £225,000. For property prices above this LTT, is incremental so you don’t pay one rate on the whole price. You only pay each tax rate on the part of the property price that falls within that band.

You can find how much you might pay in SDLT, LBTT, and LTT by using this handy Stamp Duty calculator (opens in a new window).

You’ll normally instruct a solicitor to act on your behalf in connection with your purchase. You may be required to pay legal fees and costs as part of their work on your behalf. Solicitor’s are also known as conveyancers.

Home Surveys check the condition of the home before you buy it. They'll look for defects and repair work. They can give you a good idea of any further costs for repairs you might have to pay when buying your property.

This is charged on some mortgages as part of the deal. It can be paid up-front or added to the total mortgage amount. If you add it to your mortgage, you’ll pay interest on it at the same rate as the rest of your borrowing.

Buildings insurance covers the cost of repairing or rebuilding your home if it’s damaged by events like fire, flooding or storms.

If you’re buying with a mortgage, your lender will usually require it. In England, Wales and Northern Ireland, cover typically needs to start when you exchange contracts. In Scotland, it’s usually from the point missives are concluded, when the sale becomes legally binding.

At the end of your mortgage application, we’ll offer a quote for Nationwide home insurance, or you can choose a provider that suits you. If you choose us, you can get a quote for buildings, contents, or both combined.

There are likely to be costs involved when moving home. This could be the cost of hiring a professional moving company, or hiring a van to move yourself, and buying packing materials.

We’ll run a full credit check. At this stage, because this is a formal mortgage loan application, it will leave a footprint on your credit file.

Find out about what credit checks are and what’s involved.

We’ll ask for financial documents like bank statements, payslips and HM Revenue and Customs (HMRC) documents if you’re self-employed.

For the full list of documents, including those for non-UK / Irish nationals, please see our application proofs guide.

As part of your mortgage application, we’ll carry out a valuation to check the property is worth the price you're paying. This is free of charge, but it doesn’t assess the condition of the property.

If you’d like a more detailed inspection, you can choose a Home Survey Level 2 (Homebuyers Report) or Level 3 (Full Building Survey). These are more thorough and come at an extra cost, which can vary by region.

You can find full details on what mortgage valuations and home surveys cover on our mortgage valuation and home survey page.

If you're making an offer on a property, you’ll be asked to provide your solicitor’s details.

A solicitor (or conveyancer in England, Northern Ireland, and Wales) handles all the legal work needed to complete the purchase of your home.

In Scotland, you must use a solicitor, as the legal process is different and can’t be handled by a licensed conveyancer.

You can find a solicitor or conveyancer by contacting either:

• The Law Society (for solicitors across the whole UK) (opens in a new window)
• The Council for Licensed Conveyancers (England and Wales only) (opens in a new window)

Remember to get a quote before appointing anyone.

• Your mortgage offer is valid for 180 days from the date it’s issued.
• If you need more time, you can request a 45-day extension — this includes a 15-day grace period.
• If you’re buying a new build, your mortgage offer will be valid for 270 days from the start, with no extension.

Need to request an extension?

Just email us at mortgageofferextensions@nationwide.co.uk

Make sure to include:

• Your case number
• The reason you need an extension
• Whether you’ve exchanged contracts (or concluded missives if you're in Scotland)
• Details of any changes to your income or outgoings since your application.