The buyer journey

The UK buying process,
step by step.

Buying in London works differently from many markets. Here is the whole journey, explained plainly, so there are no surprises, wherever in the world you're buying from.

A hand holding a bunch of house keys
House keys handed over. Photo: Jakub Żerdzicki, Unsplash (Unsplash License).

Short answer

Buying a new-build home in London runs through five legal and money stages: reservation, your solicitor’s checks, your mortgage offer if you borrow, exchange of contracts and completion.

The purchase becomes legally binding only at exchange; ownership and the keys pass to you at completion. The regulated steps (legal, mortgage and tax) are handled by your own professionals.

Eleven clear steps

From first conversation
to keys in hand.

We guide and coordinate every step. The regulated parts (legal, mortgage and tax) are handled by your own independent professionals, and we always make clear which is which. Where a step has a calculator or a guide behind it, it is linked from that step.

The five legal and money stages of a new-build purchaseReservation, then your solicitor's checks and, if you borrow, your mortgage offer, then exchange of contracts, when the sale becomes legally binding, then completion, when ownership and the keys pass to you.01ReservationThe developer holds theflat for you at theagreed price.02Solicitor and AMLContract and leasereview, searches, ID andsource of funds checks.03Mortgage offerIf you borrow: thelender’s valuation andformal offer.04ExchangeThe purchase becomeslegally binding; adeposit is usually paid.BINDING05CompletionThe balance is paid,ownership passes, youget the keys.KEYSThe five legal and money stages of a new-build purchaseReservation, then your solicitor's checks and, if you borrow, your mortgage offer, then exchange of contracts, when the sale becomes legally binding, then completion, when ownership and the keys pass to you.ReservationThe developer holds the flat foryou at the agreed price.Solicitor and AMLContract and lease review,searches, ID and source of fundschecks.Mortgage offerIf you borrow: the lender’svaluation and formal offer.ExchangeThe purchase becomes legallybinding; a deposit is usuallypaid.BINDINGCompletionThe balance is paid, ownershippasses, you get the keys.KEYS
The solicitor’s work and the mortgage run side by side before exchange. Steps 6 to 10 below explain each stage.
1
Initial consultation
We begin with a conversation: in person, by video or by phone. You tell us what you want to achieve; we explain how the London market and UK process work, and what to expect. No commitment, no pressure.
Does buying give you residency →
2
Buyer profile and budget
We build a clear picture of your objectives, total budget, funding method (cash or mortgage), deposit, timeline and any constraints. This is what lets us match you properly rather than generically.
What a purchase really costs →Stamp duty calculator →
3
Project shortlist
We prepare a focused shortlist of selected developments that fit your profile, and explain each one side by side: design, location, leasehold, charges and the honest trade-offs. We're clear about where we hold a confirmed developer relationship and where we don't.
Leasehold explained →How our advisory works →Compare them side by side →
4
Developer introduction
Where you wish to explore a development further and we hold the appropriate relationship, we introduce you to the developer or their sales team and register your interest correctly.
How we are paid →
5
Viewing or online presentation
We coordinate a viewing in London or, for overseas buyers, a structured online presentation, so you can assess the development properly before going further.
6
Reservation
If you decide to proceed, the developer typically asks for a reservation deposit to hold a specific unit, under a reservation agreement. We explain what reservation means and what comes next, but the agreement is between you and the developer.
Reservation vs exchange →Ten questions first →
Key milestone
7
Solicitor, AML & source of funds
You instruct an independent solicitor to act for you. As part of standard UK practice, you complete anti-money-laundering (AML) checks and provide evidence of your source of funds.

Start gathering that evidence before you reserve: the developer and others may check you earlier than this step. We help you prepare; the legal work itself is your solicitor's.
Who does what →Source of funds, prepared →
8
Mortgage or cash purchase process
Before exchange, ask your independent adviser, lender and solicitor to confirm the funding arrangements and whether any offer will remain valid until completion. If you're buying with cash, your solicitor prepares the funds for completion. We help keep the moving parts coordinated.
Mortgage or cash →UK mortgage on Turkish income →
9
Exchange of contracts
Once your solicitor has reviewed the contract and you're satisfied, you exchange contracts and usually pay a deposit. At exchange, the purchase becomes legally binding.

The deposit's size is set by the contract; around 10% is common but is not a legal requirement. We make sure you understand this milestone before you reach it.
Legally binding
10
Completion
On completion, the balance is paid, ownership transfers to you, and you receive the keys.

For a new-build this may be a set date. For an off-plan purchase it depends on the contract: it typically requires the developer to give notice once the home is finished, then sets how long you have to complete. We explain off-plan timelines clearly so there are no surprises.
Keys in hand
11
Letting or management options
After completion, if you intend to let the property, we can help you find a letting and management firm for furnishing, tenant find, rent collection and ongoing management, so the property is looked after even when you're abroad.
Lettings and management →Rental yield calculator →Yield or growth →

Throughout the journey, we guide and coordinate, but the regulated steps are handled by your own independent professionals. We are not financial, mortgage, legal or tax advisers.
Our role is to keep everything clear, connected and moving, and to make sure you always know who is responsible for what. Last reviewed on 14 October 2026.

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