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Preparing to get the best mortgage

Financing your new home in an affordable way may be on your list of things to consider. There are so many lenders to choose from and a variety of different mortgage products available. The process of finding out about mortgages and applying to the right lender can be confusing.

Knowing how to improve your chances of getting the right mortgage will be important to you and the tips below are designed to help you to start that journey. Lenders are more likely to offer a mortgage to you if you can show that you are not a risk – i.e. that you have the ability to repay your mortgage and meet each monthly payment.

  • Ensure that all your utility bills including mobile phones are paid on time. Lenders will check your payment record and may take missed or late payments into account when assessing your application.
  • Save a deposit. If you haven’t already saved your deposit, then now is a good time to start. You should aim to save at least 5% of the purchase price of the home. The more you can save, the better your options will be. With new 95% mortgages now available, you can buy a new home with a 5% deposit.
  • We recommend that you do not apply for any credit until your mortgage application has been completed and your mortgage offer has been confirmed to you in writing. Any other credit applications, for example for a new sofa or a credit card will be taken into account and may jeopardise your ability to get a mortgage or may risk a mortgage offer that you already have.
  • We strongly recommend that you pay all your credit commitments on time. Missing payments or being late will impact on your ability to get a mortgage.


There are many lenders available offering mortgages to suit a variety of circumstances. If you would like some independent advice on how to get the right mortgage for you, we suggest speaking to a new home mortgage specialist. Their advice is independent and there is no charge. Click here for details.

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