First-time buyers

Complete first-time buyer's guide for Kent and South East London

Buying your first home is exciting, and doing it in Kent or South East London comes with its own quirks: prices sit higher than much of the country, commuter demand is strong, and some schemes do not stretch as far here as they do elsewhere. This first time buyer guide walks you through everything you need to know, from your deposit and stamp duty to the schemes that can help and the buying process itself.

How much deposit do you need?

Most lenders will accept a deposit of 5% of the property price, which means 95% mortgages are within reach for many first time buyers. On a £300,000 home that is £15,000. Save 10% and you are looking at £30,000, but that larger deposit usually unlocks better interest rates and lower monthly payments, so it is worth stretching if you can.

The bigger your deposit, the less you borrow and the more lenders tend to compete for your business. Even an extra few thousand pounds can move you into a better rate band.

What can you actually afford?

As a rough guide, lenders will often consider lending around four to four and a half times your annual income, though this depends on your outgoings, credit history and the lender. The best first step is to get a mortgage in principle: a quick check from a lender or broker that tells you roughly how much you could borrow. It makes your budget real and shows sellers you are serious.

Stamp duty for first-time buyers

Stamp duty is one of the biggest upfront costs, and the rules changed in April 2025. In England, first time buyers now pay:

• Nothing on the first £300,000
• 5% on the portion between £300,001 and £500,000
• Standard rates if the price is above £500,000, as first time buyer relief no longer applies

That matters around here. A first time buyer purchasing at £450,000 would pay £7,500 in stamp duty, while a home priced just over £500,000 loses the relief entirely. Knowing where the thresholds fall can genuinely shape which homes you view.

Schemes that can help you buy

Several government-backed schemes exist to help first time buyers onto the ladder. The right one depends on your budget and where you are buying.

Lifetime ISA

Save up to £4,000 a year and the government adds a 25% bonus, up to £1,000 a year, towards your first home. It is one of the simplest ways to grow your deposit. One thing to watch in the South East: the property price cap is £450,000 and has not moved since 2017, so it can be tight if you are buying near that figure. You also need to open one before you turn 40 and hold it for at least 12 months before you buy.

Shared Ownership

Buy a share of a home, often between 25% and 75%, and pay rent on the rest. It lowers the deposit and income you need upfront, and you can buy more shares over time. It remains one of the more realistic routes in London and the South East.

First Homes

Selected new-build homes are offered to eligible first time buyers at a discount of at least 30%, and that discount stays with the property for future buyers.

Mortgage Guarantee Scheme

This encourages lenders to offer 95% mortgages, so a 5% deposit can be enough to buy. You will find participating lenders across the usual high street names.

The extra costs to budget for

Your deposit is the headline figure, but a few other costs are easy to overlook:

• Solicitor or conveyancer fees for the legal work
• A survey to check the condition of the property
• Mortgage arrangement and valuation fees, depending on the lender
• Stamp duty, where it applies
• Removals and buildings insurance from the day you exchange

The buying process, step by step

1. Sort your budget and depositWork out what you can afford and get your savings ready.
2. Get a mortgage in principleA lender or broker confirms roughly what you can borrow.
3. Start viewingRegister with local agents so you hear about the right homes first.
4. Make an offerOnce you find the one, put your offer forward through the agent.
5. Instruct a solicitor and apply for your mortgageThe legal and lending work begins in parallel.
6. Survey and searchesYour lender values the home and your solicitor runs the checks.
7. Exchange contractsThe sale becomes legally binding and a completion date is agreed.
8. CompletionThe money moves, the home is yours, and you collect the keys.

Tips for buying in Kent and South East London

Commuter towns such as Dartford and Bexley often give first time buyers more space for their money than central London, with fast trains into town. Keep the Lifetime ISA cap in mind if you are buying close to £450,000, register with local agents early because good first homes move quickly, and stay open to up-and-coming areas where your budget stretches further.

If you are weighing up areas and price ranges, our sales team knows the local market street by street and can point you towards the right spots for your budget.

Frequently asked questions