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How to apply for a mortgage
Find out more about how to get a mortgage and the application stages you need to go through.
There’s no sure-fire way to guarantee you’ll be accepted for a mortgage. But there are a few things you can do to try and improve your chances.
- Good deposit. Have a strong loan to value ratio and the biggest deposit you can afford.
- Good credit score. The overall health of your finances can have a big impact on being accepted. For example, always paying your credit card off on time.
- Regular, steady income. If you’ve been in your job for over six months and can prove you have a regular salary, this is a good sign for lenders.
- Register to vote. Being registered to vote at your current address helps a lender to confirm your identity.
Step 1 - See how much you could borrow
Our mortgage calculators are designed to help make things easy for you. They’ll give you an idea of how much you could borrow and see how changes to your mortgage could affect your repayments.
To use our mortgage calculators, just enter some information about your current income, regular outgoings and where you’re up to in your mortgage journey.
Step 2 - Get an Agreement in Principle
Getting an Agreement in Principle (AIP) is an important step when you’re applying for a mortgage. This is where a lender gives you an idea of how much you might be able to borrow.
An AIP is not a guarantee that you’ll be offered a mortgage.
The lender will confirm the exact amount you can borrow after you make a full application and they’ve checked the information you’ve given in more detail.
Credit checks
Before your lender gives you your Agreement in Principle (AIP), they will carry out a soft credit check. This is obligation-free and won’t affect your credit score.
To do this, the lender will want details of your income, where you’ve lived for the last three years and your outgoings.
We can help you learn more about how credit checks work.
Get your AIP
With an Agreement in Principle you can take the first step to buying a home.
You could lose your home if you don’t keep up your mortgage repayments
Step 3 - Get all your documents together
To support your application, your lender will want to see:
- ID – such as your driving licence or passport.
- Past three to six months of bank statements.
- P60 tax form from employer.
- Utility bills – including electric, gas and water.
- Proof of any benefits you’re receiving.
- Details of your conveyancer, estate agent and the seller.
Handy to know
You can check your credit score for free with no impact on your credit file.
Get some mortgage advice
Once you’re ready, it’s a good idea to get some advice from a mortgage adviser. They’ll go through your personal and financial circumstances, look at your budget, find you the right deal and help with your mortgage application.
Your advisor may:
- review your application,
- arrange a valuation,
- look over your paperwork, and
- run credit checks.
Whether it's on the phone, by video or in branch, we have options to make your mortgage appointment work for you.
Let’s take a closer look
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There’s no guarantee you’ll be accepted for a mortgage, but there are a few things you can do to improve your chances.
- Show you can manage your finances – this is a good indicator of how likely you are to be able to pay a mortgage.
- Work on improving your credit score – the overall health of your finances can have a significant impact on being accepted. For example, it will help to show that you pay your credit card on time. Having a steady regular income and being registered to vote are other good signs for lenders.
- Build a savings pot – the bigger the deposit you can afford, the lower your borrowing and monthly repayments will be. This will mean you also have a strong loan to value ratio.
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The application process can typically take anything from one to six weeks to get an official offer, depending on any hold-ups while you’re applying, such as the time it takes to look over your finances and arrange a valuation.
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Lenders will do their best to make sure it’s a smooth mortgage application process, but hold-ups can happen.
The most common reason why an application might be delayed is waiting for documents. Make sure to send over any paperwork needed and keep in touch with your lender to check how things are progressing and see if you need to do anything.
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In most cases, an Agreement in Principle will be valid for between 30 and 90 days.
You may be able to renew the terms of the agreement after 90 days. If not, you may have to get a new one.
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Once the lender is happy everything’s in order, they’ll make you a formal mortgage offer, which is usually valid for up to six months.
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The amount you can borrow will depend on your finances, including your salary and outgoing payments. Lenders will also take into account interest rates to make sure that you can afford to repay the mortgage for the full length of the term.
Try our mortgage calculator to get an idea of how much you could borrow.
Start your mortgage journey
- Simple to use, step-by-step guide
- Find the right mortgage deal for you
- Keep track of your progress all in one place
Already started your mortgage journey?
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