Preparing to get a mortgage

By using an impartial mortgage adviser, you can rest assured that you are getting the right advice for you rather than guidance that will primarily boost the lender’s profits.

Securing a mortgage

Before a lender agrees your loan, they will check your income and outgoings thoroughly to ensure that you can afford the monthly repayments as well as any future increases in interest rates. Each lender works to an individual criteria as to what is and is not acceptable, and this can affect quite drastically what each lender would consider lending you.

Our advisers understand each lender’s criteria and will pick the best products from the whole of the market and a mortgage that best suits you, your budget and your new home.

Evidence

The documents that you will need to be provide can vary from lender to lender, but as a rule of thumb you should organise the following:

  • Photo ID such as passport or driving licence
  • Proof of address by way of council tax bill, utility bill or bank/credit card statement or annual mortgage statement
  • Three months wage slips and latest P60
  • Three months bank statements where your salary gets paid into
  • If you are self-employed, it could be a combination of SA302, your accountants reference, company accounts and HMRC tax year overview.  Please speak to us and we can guide you through what will work best.
  • Details of where you deposit will be coming from; statements for savings or gifts from family

Credit Report

Lenders will use one or more of the 4 Credit Reference Agencies to check your financial history and payment record before offering you a mortgage.

We recommend that you obtain your multi Credit Report as early as possible, to check for errors and make sure your address history and any historical credit data is accurate. This will help you spot any potentially costly errors and avoid future delays with your mortgage.

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