First-Time Buyer? Here’s What You Need to Know About Buying Property in Scotland

Buying your first home is an exciting step, but it can also feel a particularly daunting one if you’re not sure how the Scottish property system works. The process is very different from other parts of the UK and can move extremely quickly once an offer is accepted with settlements averaging 6-8 weeks for completion. This article will walk you through the main steps and key points you need to know, using plain language and practical examples.

Get Your Finances in Order

Before you start viewing properties or making offers, it’s essential to get a clear picture of your financial position. Here’s what that involves:

Saving for a deposit
Most first-time buyers need a deposit of at least 5–10% of the property’s purchase price. For example, if you’re buying a home valued at £150,000, you’ll likely need a minimum deposit of £7,500 to £15,000 plus anything additional you offer over and above the valuation price (e.g. if you offer £155,000, you will require to raise the additional £5000 above valuation). It is imperative to factor this into your affordability calculations, any lender you choose will only offer a loan to value, not what you eventually end up paying for the property. The more you can save, the better position you will be in to offer competitively for a property and secure a competitive mortgage deal.
Getting a mortgage Agreement in Principle
This is a statement from a lender detailing how much they would be prepared to lend you in principle, based on a basic check of your income and credit score. It isn’t a guarantee, but it gives you a clear budget to work with and shows sellers that you’re a serious buyer. It also is worth reiterating that this is maximum figure available, the full application will then be based on loan to value so whilst you may be able to borrow more than your chosen property is worth, the percentage available to you will be based on the value of the property you offer for at the time of the application being submitted.
Preparing a paper trail of where your deposit funds have been acquired – As part of the Law Society of Scotland’s Anti Money Laundering procedures your solicitor will require to see evidence of the source of funds for the deposit being paid. You should collate 12 months bank statements for the account the funds will be issued from together with written evidence of how those funds were acquired e.g savings, inheritance, realisation of investments etc and have this ready to pass to your solicitor. The same will likely be required for your mortgage application.
Factoring in additional costs
It’s not just the deposit. You should also budget for:
- Legal fees – Solicitor costs vary but factoring in the associated outlays, these can often be upwards of £2000.
- Land and Buildings Transaction Tax (LBTT) – First-time buyers don’t pay LBTT on properties up to £175,000. Above that, tax is applied in bands which your solicitor will advise you of based on your purchase price.
- Surveys or specialist reports – You may want additional inspections beyond the Home Report if a particular point has been raised in the home report or via the viewing that you would like further information on or investigated.
- Mortgage arrangement fees, insurance, removals, and furniture – these are usually factored into the mortgage amount.

Tip: Speak to a mortgage adviser early on, especially if you’re not sure how much you could borrow or what lenders are looking for. Some advisers don’t charge a fee for initial consultations, and they can often access exclusive deals.

Understand the Home Report

In Scotland, sellers must provide a Home Report before they market a residential property. This is a helpful tool for buyers and includes:

Single Survey
This is carried out by a chartered surveyor and includes a valuation of the property, as well as details of the property’s condition. It highlights any issues (such as damp, roof defects, or outdated electrics) and gives each area a condition rating from 1 to 3. 1 requiring no action and 3 requiring urgent attention.
Energy Performance Certificate (EPC)
This outlines the property’s energy efficiency rating and potential running costs. A more efficient home is cheaper to heat and more environmentally friendly.
Property Questionnaire
Completed by the seller, this includes practical information such as:
- Whether the property has had alterations carried out on it or planning permission obtained.
- Details about council tax banding and utility suppliers.
- Information on parking arrangements or any shared maintenance obligations.

Tip: Read the Home Report thoroughly. If anything worries you, your solicitor can help arrange additional checks before you commit to any missives.

Engage a Solicitor Early

It’s a good idea to instruct a solicitor (also called a conveyancer) as soon as you’re actively house-hunting. They play a key role throughout the purchase and will:

Note interest on your behalf
This is a formal way of telling the seller’s solicitor that you’re considering making an offer. It also ensures you’ll be kept informed of developments on the property including if a closing date is set.
Submit a formal offer
When you’re ready, your solicitor will prepare a written offer. In Scotland, offers are usually submitted in a standard format and may include suspensive conditions such as a mortgage being required or certain repairs being carried out.
Negotiate the missives
The missives are a series of letters between solicitors that make up the terms of and form the binding contract for the sale. Once these are concluded, the deal becomes legally binding on both parties—so it’s important you’re confident on all aspects of what you are purchasing before reaching this stage.
Check the legal title and carry out searches
Your solicitor will check that the seller has good title to the property and that there are no issues such as legal disputes, planning breaches, or access problems. Traditionally a copy of the titles will be sent to you for approval given your solicitor will not have viewed the property and will be seeking your confirmation the plan matches your expectations. It is extremely important you check this and report back any immediately obvious discrepancies to your solicitor.
Handle the final stages and transfer of ownership
This includes drawing down the mortgage funds, paying the purchase price to the seller’s solicitor, and registering your title in the Land Register of Scotland.

Tip: Choose a solicitor who communicates clearly and explains things without jargon. A good solicitor will keep you informed and help you understand what’s happening at every stage.

Making an Offer and Understanding Closing Dates

Properties in Scotland are often marketed with an “offers over” or “fixed price” label.

Offers over means the seller is hoping to achieve more than the asking price. If there’s a lot of interest, a closing date may be set, and all interested parties are invited to submit their best offer by a deadline.
Fixed price means the property is being offered for sale at a specific price, and if you offer that amount (and meet the conditions), it will usually, but not always, be accepted.

Completion (Settlement) and Getting the Keys

Once the missives are concluded and all parties will be bound to settle on the date of entry that has been agreed. This is the day you:

Pay the full purchase price (via your solicitor).
Legally become the owner of the property.
Receive the keys and can move in.

On the day of settlement, your solicitor will make the payment to the seller’s solicitor, and once they confirm receipt, the keys are released—usually by the estate agent or seller directly.

Don’t Be Afraid to Ask Questions

This is likely your biggest financial decision so far, and it’s completely normal to feel unsure and apprehensive. A good solicitor will take the time to explain things clearly and guide you through each step.

Need Help?

If you’re thinking about buying your first home and want clear, expert advice, our experienced Residential conveyancing team is here to help. We’ll support you every step of the way—from noting interest to you collecting your keys.

Contact us today to find out more or to request a no-obligation quote. Please contact our experienced Residential Conveyancing Team on 01324 622 888 or contact help@randa-fa.co.uk and we would be delighted to assist.