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Mt. Pleasant, SC 29464
Our experts answer your questions about buying a home
How much do I need for a deposit to buy a house?
Many banks still prefer first-time buyers to have a 10% minimum deposit in 2025. However, there are ways to buy with a smaller deposit.
You can get a mortgage with a 5% using the Mortgage Guarantee Scheme (which runs until June 2025). Or you can consider buying a Shared Ownership home – you’ll only own part of the property so you can buy with a smaller deposit and mortgage.
How long does it take to buy a house?
The timeline to buying a home can vary. Aside from the time it takes to find a home you love, it normally takes 6 to 12 weeks to buy it. In some cases, it can take up to six months.
The conveyancing part alone can take up to three months. But there are things you can do to speed up the process.
What is the process for buying a house?
Start by working out what you can afford with our mortgage calculator. Consider how much stamp duty you’ll pay and if you can improve your credit score before you pre-apply for a mortgage.
Then for the exciting bit: start house-hunting. Use our handy search tools to narrow down your search, whether you’re looking for a cottage, period property or fixer upper. Don’t forget to take our viewing checklist along to keep sight of the important things.
When you find a place you love, hire a conveyancer to help you make an offer and sort the paperwork. There might be some negotiations before you exchange and complete.
What credit score is needed to buy a house?
A healthy credit score can get you a better mortgage deal, as it shows lenders you’re reliable at repaying money.
The three credit scoring agencies in the US have different point systems – but the higher the number, the better.
You can improve your credit score by paying off debts, getting on the electoral roll and making consistent credit payments.
