Buying a Pocket home

Step by Step guide to
buying your first home


Because we want to make sure you have a great experience when buying your first home with Pocket, we make sure we are with you very step of the way. Our Step by Step guide to owning your first Pocket home is specially designed to make you feel supported and will hopefully demystify the ‘getting on the property ladder’-process.

The buying process


Register online

We check your eligibility

View a Pocket flat

Buy one

Create a My Pocket account

This is our handy customer portal via which you can manage the process of purchasing a Pocket home. – Be sure to activate your account via the link in the email that is sent to you. Check your junk folder!

Keep your My Pocket account up to date

We’ll email you to let you know when we’re launching a scheme which you might be eligible for, so look out for emails from us. Be sure to keep the information in your My Pocket account up to date (especially the boroughs in which you live and work and your financial information) as we use it to check eligibility and affordability.

Affordability assessment

When you receive an email letting you know that we’re launching a development you might be eligible for, we’ll ask you to complete an affordability assessment with Censeo (our recommended Independent Mortgage Advisor). This is to check that the home you want to buy would be affordable for you, without any commitment.

Book a viewing

Once we have received your passed affordability assessment, you’ll be able to book a viewing via your My Pocket account.

Show home

Attend your viewing at our show home. This may not be at the development where you are looking to buy since we do not always have a Pocket show home at every development, so be sure to check the address in your confirmation email. Our Pocket team will be very happy to answer any questions that you have on the day.

Expression Of Interest

If you like what you see at your viewing, submit an Expression of Interest via your My Pocket account. You can select up to 10 flats of your choice.

Offer Letter

If we are able to offer you a Pocket home, we’ll issue an Offer Letter into your My Pocket account. This will set out the whole process in detail, and will ask you to upload documentation into your My Pocket account, pay your Reservation Fee, meet with an Independent Mortgage Advisor (IMA) and choose a solicitor. We’ll recommend good people!

Reservation Form

Once we’ve checked your documentation, we’ll issue you a Reservation Form for you to sign and upload into your My Pocket account.

Solicitor

You’ll need to instruct your solicitor, and we’ll instruct Pocket’s solicitor to start work on your purchase too.

Help to Buy

If you’re using Help to Buy, submit your Help to Buy application (your chosen IMA will usually help with this). As the government will be lending you a great sum of money, it is of the utmost importance that you check the details you fill in match those on your Reservation Form exactly!

Mortgage Application

Work with your IFA (Independent Financial Advisor) to submit your full mortgage application. A mortgage valuation will need to be carried out, but your lender will arrange this directly with Pocket.

Documents and deposit

Follow your solicitor’s instructions – you will need to return any signed documents that they have requested to them (your contract, lease and mortgage deed as a minimum) and transfer your exchange deposit (5% if you’re using Help to Buy; 10% if you’re not) to them. You’ll also need to give them the explicit go ahead to exchange contracts on your behalf once everything is in place.

Exchange contracts

This is an exciting point in the process as it means that you’re legally bound to purchase the property and we’re legally bound to sell it to you.

Home Induction Tour

Once your new home is ready, we’ll invite you to book in a Home Induction Tour so that we can show you the building and how everything works in your new home. We’ll also be able to agree a completion date for you, and notice to complete will be served to your solicitor. (If the home you are buying is already finished, we’ll arrange your Home Induction Tour and agree a completion date when you exchange contracts).

Transfer remaining funds

Just before completion, you’ll need to transfer any remaining funds to your solicitor. Once these have reached Pocket’s solicitor, we’ll be able to release your keys.

Pick up your keys and move in

Help to Buy

Thanks to the UK Government’s Help to Buy scheme, you don’t need to save up a huge pot of money to get on the property ladder. You can buy your first home with just a 5% deposit.

Help to Buy