TSPC First-time buyer guide

If buying your first home is on your list for 2025, you might be wondering where to begin. At TSPC, we make the process simple.
Join us for our First-Time Buyer’s Event at Malmaison Dundee on Monday 24th February, 6-8pm, where local experts will offer free advice (registration opens 31st Jan).
Money matters
Before picturing your dream decor, figure out your budget. Online calculators can be misleading, so we recommend speaking to an independent mortgage broker. TSPC can put you in touch with a broker who will offer a free introductory consultation, assess your finances, and help secure a mortgage that suits you.
Factor in additional costs, including:
- Solicitor fees
- Specialist surveys (if needed)
- Land and Buildings Transaction Tax (if the property costs over £145,001)
- Building insurance (required before mortgage release)
(Tip: TSPC advice and property viewings are free! 😊)
Choosing a solicitor
In Scotland, you must have a solicitor to buy a home. They handle the legal process, submit offers, and check contracts. Crucially, the solicitor you choose cannot be the same one the seller has instructed.
Not sure who to choose? TSPC works with 26 solicitor firms across Dundee, Angus, and beyond. As well as being governed by the Law Society of Scotland, our network offers unparalleled expertise and detailed local market insights, ensuring you’re in good hands. They’ll also help you consider the less obvious points including potential conditions to attach to your offer, such as including white goods or window dressings.
Securing the mortgage
Once you’ve consulted a broker, the next step is obtaining an Agreement/Decision in Principle (AIP/DIP). This states how much a lender could offer, usually valid for 90 days.
Remember, an AIP/DIP isn’t guaranteed – financial changes (like new credit cards or loans) could impact approval.
Finding a home
With your budget set, it’s time to start searching. TSPC is the largest local property portal in Dundee, Angus, and North Fife, featuring exclusive listings not found elsewhere.
Use our site to browse properties and download instant Home Reports. With unparalleled expertise in the Tayside property market, TSPC also deliver unrivalled and up-to-date information and insights into local trends, giving you the tools and knowledge to make informed decisions.
Home Report
The Home Report is an important document tells you what you need to know about the house and is split into three parts:
- Survey & valuation
- Property questionnaire
- Energy report (EPC)
Note: The valuation in the report is the maximum you can fund through the mortgage.
There are a few exceptions where a property doesn’t need a Home Report in which case the seller must still give you the EPC. You’ll only need a specialist survey if you have particular concerns about the property’s condition or if your solicitor advises you to do so.
Making an offer
If you’ve found the right home, your solicitor will handle your offer. If there’s competition, they can submit a Note of Interest, keeping you informed of any Closing Dates.
For fixed-price properties, the first full-price offer is typically accepted. For offers over, sellers usually consider the highest or most attractive bid.
Acceptance of offer
If you have made an unconditional offer for the property, this will usually be accepted or rejected by the seller straight away.
If your offer was subject to conditions, there will be no binding contract until they have been accepted, and the seller’s solicitor is fully satisfied that their client is in the best possible position.
Completion
As you might guess, this is the ‘last bit’!
At this point, your solicitor will complete the conveyancing procedures and prepare several documents, particularly a ‘disposition’ which will transfer ownership of the property to you. The contract or Missives will specify the date of entry to the property when you’ll pay the purchase price in return for the Disposition and keys, marking the ‘completion’ of the purchase.
If you’re thinking about buying your first home in 2025, don’t miss our First Time Buyer’s Event to get expert advice and start your journey with confidence.