First-Time Buyer? Here’s What You Really Need to Know (And How GLP Can Help)
Buying your first home is exciting — but it can also feel like stepping into the unknown. At Greater London Properties, we’ve helped hundreds of first-time buyers in Dulwich, Herne Hill and beyond take that first step with confidence.
So if you’ve just started your journey, here are the answers to some of the most common questions first-time buyers ask — and how we can support you at every stage.
💬 Where do I start?
Start by understanding how much you can afford. Speak to a mortgage advisor (we can introduce you to one we trust) to get a mortgage in principle — this gives you a clear idea of your budget and shows sellers you’re serious.
💷 What costs are involved?
Alongside your deposit (usually 5–10%), you’ll need to budget for:
- Solicitor fees (£1,000–£1,500)
- Survey (£400–£700 depending on type)
- Moving costs (from £300+)
- Stamp Duty (you may be exempt – see below)
Good news: First-time buyers pay no Stamp Duty on properties up to £425,000, and a reduced rate up to £625,000.
🏦 Should I use a mortgage broker?
Yes — especially as a first-time buyer. Our recommended advisors are whole-of-market, which means they’ll search across all lenders to find you the best deal. Many don’t charge you a fee.
🔎 Leasehold vs freehold – what’s the difference?
Freehold means you own the property and the land it’s on.
Leasehold means you own the property for a set number of years, but not the land — common for flats.
We’ll guide you through which type is right for you, and make sure your solicitor checks all the fine print.
📝 What should I look out for on a viewing?
We always recommend looking beyond the surface. Pay attention to:
- Light and layout
- Storage space
- Windows and signs of damp
- The condition of kitchens and bathrooms
- Lease terms (for flats)
- Local area and transport links
- Which was the sun sets on the property if thats important to you
We’ll also give you honest advice — if a property doesn’t feel right, we’ll tell you.
💡 Should I get a survey?
Yes. Surveys help flag any issues before you commit. A Homebuyer Report is a good middle ground for most properties. We can help arrange this for you and explain the results clearly.
🤝 What happens after my offer is accepted?
Once your offer is agreed:
- You’ll appoint a solicitor (we can recommend great local ones).
- Your mortgage advisor submits your full application.
- The seller’s solicitor sends over contracts and details.
- Searches and surveys are done.
- Once all checks are complete, you exchange contracts and pay your deposit.
- On completion day, the property becomes yours and you get the keys!
💛 Why choose Greater London Properties?
- We’re not just estate agents — we’re your local advisors and guides. Here’s how we’re different:
- We only take on a small number of homes per month, so we can give every buyer and seller proper time and attention.
- We live locally and know the area inside out.
- We’ve worked with the same trusted solicitors, mortgage advisors, and removals teams for over 20 years.
- We’ll explain every step, avoid jargon, and always keep your best interests front and centre.
And when you buy with us, you’re also supporting the local community — through our Support Our Schools initiative, we donate 10% of our sales fee to a school chosen by the seller.
Thinking about your first move? Just ask.
Warmest Regards
Kate and Rob Hill
Dulwich Branch: 📞 +44 207 292 2550
Email: dulwich@glp.co.uk