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A lender will want to know that you can pay back the money you borrow with a mortgage. To do this, they have certain criteria that a borrower will have to meet to be accepted for a mortgage.
Different lenders will use different things to decide your mortgage eligibility. Normally, you can expect them to look at your:
There is no sure-fire way to guarantee that you are accepted for a mortgage. But there are things you can do to help increase your chances.
You will have to provide proof of who you are and that you can afford your mortgage. You’ll need to provide:
An Agreement in Principle is one of the first steps you should take towards getting a mortgage. It can give you a good idea of whether you will be accepted by a lender or not. It will also help you know how much you can borrow from a lender to put towards your new home.
Having an Agreement in Principle can speed up the moving process and show sellers that you are serious about buying.
You can use our online mortgage calculator to see how much you could borrow and work out your monthly payments. Although this is not a guarantee that you will get a mortgage, it can give you a good idea of how much you might be able to borrow.