First-time home buyers How to get a mortgage: video guide
Want to know how to get a mortgage? Our video explains the steps you need to take before applying, and how to work out how much you can afford.
This step-by-step guide, compiled by Which? Mortgage Advisers, explains what you'll need to do to increase the likelihood of having your mortgage application accepted.
For personal, expert advice based on your own financial situation, call Which? Mortgage Advisers on 0808 252 7987.
How to get a mortgage: video guide
How to apply for a mortgage: step-by-step guide
1Know your budget
You can have a free initial consultation with Which? Mortgage Advisers by calling 0808 252 7987. They will ask you questions about your circumstances to help give you an idea of how much you might be able to borrow.
Find out more: how to save for a mortgage deposit - our guide to building up healthy savings
2Evaluate your income
A mortgage lender will usually only lend you between three and five times your annual income. If you're buying a property with a partner or friend, work out the total income of everyone who will be named on the mortgage. It's rarely worth applying to borrow any more than five times this amount.
Find out more: how to compare mortgages - understand the different fees and charges so you can make a more accurate comparison
3Check your credit history
A good credit history is crucial to being accepted for a mortgage. If you have a poor credit history, or no history of using credit at all, it's worth spending a few months showing that you're a responsible borrower before applying for a mortgage.
Find out more: boost your mortgage chances - how to make yourself look appealing to the lenders
4Get an idea of the type of property you want
The type of property you want to buy will affect the type of mortgage you can get, so form a rough idea of the kind of property you want to buy. Lenders are less willing to agree to mortgages on leasehold flats with short leases, for example.
A mortgage adviser will be able to steer you towards the best type of mortgage for your specific circumstances.
5Get your documents together
Where relevant, make sure you have paperwork to prove everything you say in your mortgage application.
A mortgage lender will want to see proof of identity, details of your employment and up to six months' worth of bank statements.
Find out more: mortgage application: what you need - a guide to the paperwork you'll need to get together
Checklist: getting the best mortgage deal
Our easy-to-use, printable checklist will guide you through the steps you should take to find your perfect mortgage.
Find out more...
- The Which? home-buying quiz - how much do you know about mortgage and home-buying?
- Mortgage reviews - see how the biggest mortgage lenders compare
- Mortgages for self employed - learn about the criteria lenders use for self-employed buyers
Your home may be repossessed if you do not keep up repayments on your mortgage.
Which? Limited (registered in England and Wales number 00677665) is an Introducer Appointed Representative of Which? Financial Services Limited (registered in England and Wales number 07239342). Which? Financial Services Limited is authorised and regulated by the Financial Conduct Authority (FRN 527029). Which? Mortgage Advisers and Which? Money Compare are trading names of Which? Financial Services Limited. Registered office: 2 Marylebone Road, London NW1 4DF.