Navigating Your First Home Purchase: Insights from the Girl Grads x ESPC First-Time Buyer Event

Buying your first home can feel overwhelming, but it doesn’t have to be. We have pulled together the key takeaways from our event with ESPC event to help you feel confident as you begin your journey.

Whether you’re just starting to think about buying or are already saving for a deposit, this summary will give you valuable insights into the legal, financial, and practical steps involved.

Start With the Right Advice

One of the clearest messages from the event was to speak to both a solicitor and a mortgage advisor early in the process. Doing this upfront can prevent future difficulties and ensures you are fully prepared for the process, particularly as you are likely to be navigating something that is very new to you.

The Role of the Solicitor

Hannah Gaddie, a Senior Solicitor from Gillespie Macandrew, explained that your solicitor:

• Submits the offer on your behalf.

• Ensures your finances are compliant with Anti-Money Laundering (AML) regulations.

• Breaks down the legal costs involved in buying a home.

A good solicitor is essential- not just at the offer stage, but throughout the process. Recommendations from friends, local firms, or visiting the new ESPC Property Lounge (which features legal experts on-site) are great places to start.

Understanding Mortgages: What Lenders Look For

Lisa Bell from ESPC Mortgages provided valuable insight into how mortgage lenders assess first-time buyers. The key is to get in touch early to understand your borrowing power and set a realistic savings target.

Top Tips for Getting Mortgage-Ready:

• Build your credit history - Use a credit card responsibly to show lenders you can manage debt.

• Register to vote - This helps confirm your identity and address.

• Update your address on bank accounts - It’s important all financial records match your current living situation.

Lenders typically offer mortgages based on a minimum 5% deposit, but a stronger credit score is required for this. You’ll also need to demonstrate that your financial situation is stable- so avoid taking out loans or large expenses once your mortgage planning is underway.

Property Search Made Easy

ESPC’s My ESPC tool is a brilliant resource. It allows you to set up multiple property searches across different areas, so you’re always in the loop without having to redo your search every time.

The ESPC Property Lounge is also a fantastic space to ask questions, view properties, and speak directly with estate agents and legal experts.

Estate Agency Insights – Making the Market Work for You

Tzana Webster, Head of Estate Agency at Ralph Sayer, gave practical advice for navigating property listings and making offers as a first-time buyer.

Understanding How Properties Are Listed:

• Offers Over - Common in Scotland. You may need to pay over the valuation price, and that extra amount must be paid in addition to your deposit.

• Fixed Price - This is a set price that the seller is looking to sell for. These properties are first come first served and you can even offer under the price.  

Tips for Making an Offer:

• View the property at least twice before making an offer.

• You can make an offer subject to further inspections, especially if there are concerns like damp or repairs noted in the home report.

• First-time buyers are key to unlocking the buying chain- you don’t have a property to sell, making you an attractive buyer for sellers waiting to move on.

Joint Purchases and Legal Protections

Thinking about buying with a friend or partner? Tzana also covered the importance of legal agreements when contributions aren’t equal. A Minute of Agreement or co-purchase agreement can outline exactly what each person contributes and what they’re entitled to if the property is sold or the arrangement changes.

Mortgages for Students or Low-Income Buyers

It’s not impossible to get a mortgage as a student, but it’s more difficult without a steady income. In some cases, guarantor mortgages may be an option, where someone else agrees to cover your payments if you can’t. Speak with a mortgage advisor to understand your personal eligibility.

Also, while you do need to disclose your student loan, repayments tend to be low and usually have minimal impact on your affordability calculation.

Final Thoughts: Plan Ahead

The most important takeaway from the event? Get advice early. A conversation with a mortgage advisor before you begin saving can help you understand what’s realistic for your circumstances—and avoid any surprises later.

Buying your first home might seem daunting, but with the right advice and tools, it becomes a lot more manageable and exciting!

We’re delighted that Gillespie Macandrew are offering Girl Grads members an exclusive 10% discount on conveyancing fees for your first property purchase. Members must show proof of their membership and discount offer ends 30 June 2026. Get in touch with Hannah hannah.gaddie@gillespiemacandrew.co.uk to chat about your next steps.