Buying a House in Scotland
Buying a House in Scotland: Step by Step
Buying in Scotland works differently to the rest of the UK. Home Reports, offers over, closing dates and missives can all be confusing the first time. Here is the whole process in plain English, from working out your budget to getting the keys.
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Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.
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How It Works Here
The Scottish System Is Different
Once missives are concluded, the deal is legally binding. That means less chance of the sale falling through, but you need your mortgage ready early.
- ✓Home Reports: the seller provides a survey, valuation and energy report upfront
- ✓Offers over: many homes are marketed as offers over a set price
- ✓Closing dates: if there is lots of interest, buyers may have to offer by a set time
- ✓Missives: letters between solicitors that make the deal binding
How We Help
The Steps to Buying Your Home
From first chat to getting the keys.
Budget and Mortgage in Principle
Work out what you can borrow and get a mortgage in principle so agents take you seriously.
Choose a Solicitor
You will need one to note interest, submit offers and handle the legal side.
View and Read the Home Report
Check the valuation and repair categories before you decide what to offer.
Make an Offer
Your solicitor submits it. If there is a closing date, all offers go in by a set time.
Missives and Entry
Once accepted, we submit your mortgage, solicitors conclude missives, and you get the keys on the date of entry.
Costs to Plan For
What You Need Besides the Deposit
Budget for these early so there are no surprises.
Deposit
Usually at least 5% of the price, more if you offer over the Home Report value.
Check My Options →Solicitor Fees
Covers the legal work and registering your ownership. Get a quote early.
Get Straight Advice →Mortgage Fees
Some deals have product fees. We will compare deals with and without them.
Book a Chat →Protection
Life insurance and income protection help keep your home safe if something happens.
Ask a Question →Common Questions
Buying in Scotland Questions, Answered
The things first time buyers ask us most.
How long does it take to buy a house in Scotland?
Often around 8 to 12 weeks from offer to keys, but it depends on the solicitors, the lender and the date of entry agreed.
What is a closing date?
When several buyers are interested, the agent sets a date and time for all offers. The seller then picks one.
What does offers over mean?
The seller wants offers above a set price. Many homes in Scotland sell above the asking price, but not all.
When is a house sale binding in Scotland?
When missives are concluded. Before then, either side can usually pull out.
Do first time buyers pay LBTT in Scotland?
Not on the first £175,000. Above that, normal rates apply to the rest of the price.
When should I speak to a mortgage broker?
Before you start viewing, so you know your budget and have a mortgage in principle ready.
Related guides
- Missives and closing dates explained
- How much to offer on a house in Scotland
- Home Report explained
- LBTT calculator Scotland
- All mortgage questions answered
Written by Tony Flynn, mortgage broker at Tony Flynn Mortgages, helping homebuyers across Lanarkshire and Scotland. This page is general information, not personal advice. Speak to Tony about your own circumstances.
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