Getting Mortgage Ready: How to Swerve the Stress

Buying a home is likely the biggest purchase you’ll ever make. For most of us, that means getting a mortgage. But before you start picking out paint swatches for the spare room, you need to make sure your finances are as "mighty" as they can be.

We’ve put together this straightforward guide to help you get into the best possible position, so when that dream house pops up, you’re ready to pounce.

1. Check your credit score (and do it early!)

Don’t wait until you’ve saved every penny to check your score. Checking it well in advance gives you time to fix any errors or "glitches" before we start talking to lenders.

Pro tip: Keep an eye on it right up until you get the keys. Lenders often do a final check before releasing the funds, so no sudden spending sprees!

2. Have a chat with us sooner rather than later

You don’t need to have a house lined up to speak to a Mortgage Advisor. In fact, checking in early might mean you're ready to make the leap much sooner than you thought. We’ll help you figure out exactly what’s affordable so you can shop with confidence.

3. Get on the electoral roll

It sounds a bit random, but being registered to vote is a huge plus for your credit score. It’s the easiest way for lenders to confirm who you are and where you live. Double-check your registration is up to date - it’s a small step that makes a big difference.

4. Hit the brakes on new finance

Thinking about a new car on finance or a "Buy Now, Pay Later" deal for some tech? Hold fire. 

Loans, credit cards, and even 0% interest options like Klarna /Clearpay can drain your borrowing power. It’s best to avoid taking out new credit for at least three months before you see us.

5. Tackle those debts

If you can, try to clear as much outstanding debt as possible before applying. Not only does this increase how much you might be able to borrow, but it could also land you a cheaper rate. At the very least, try to pay more than the minimum payments to show lenders you're in control.

6. Step out of the overdraft

Being in your overdraft isn't a deal-breaker, but if you're dipping into it every month, lenders might worry you’re living a bit too "close to the edge." Try to chip away at it and stay in the black for a few months before starting the process.

7. Build a "Just in Case" fund

We know, we know - saving for a deposit is hard enough! But buying a house is a marathon, not a sprint. Life happens, and things like illness or a change in jobs can pop up when you least expect them.

Try to have a small emergency fund tucked away alongside your deposit. It’s a total lifeline if a "bump in the road" appears.

Want to know if you're ready to go?

Let’s cut through the complicated stuff together. We’ll handle the legwork while you handle the life stuff - get in touch!