Getting Mortgage-Ready: What Lenders Actually Check

What lenders actually assess

Mortgage approval isn't a mystery — it comes down to three things: your deposit, your affordability, and your credit history.

Deposit

The bigger your deposit, the better the rates you'll access. But 5% is enough for many schemes, and 0% is possible with the right lender. What matters is that your deposit is genuinely yours — gifted deposits from family are fine, but lenders will want to see the source.

Affordability

Lenders don't just look at your salary — they stress-test your ability to keep paying if rates rise. They'll examine:

• Your income (salary, bonuses, self-employed earnings, benefits)
• Your outgoings (loans, credit cards, childcare, subscriptions)
• Your employment stability
• Your future plans (maternity, career breaks)

Credit history

A clean credit file helps, but minor blips aren't deal-breakers. What matters is that there are no recent missed payments, defaults, or undisclosed debts. Check your file before you apply — and dispute anything that's wrong.

Three steps to get mortgage-ready

1. Check your credit file — with all three agencies. Fix errors, close unused accounts, and register to vote if you haven't.
2. Reduce your outgoings — clear small debts, and avoid new credit applications in the three months before you apply.
3. Gather your documents — three months of payslips and bank statements, plus ID and proof of address. Self-employed buyers need two to three years of accounts or SA302s.

Getting mortgage-ready is mostly about being organised. The buyers who sail through are the ones who've done the paperwork before they start viewing.

Start with an Agreement in Principle

An Agreement in Principle (AIP) tells you how much you can borrow and shows sellers and developers you're serious. We can arrange one with no obligation — and it doesn't affect your credit score if done via a soft search.