Applying for a mortgage: what to expect
In this guide
So, you've found your dream home. Congrats! Now it's time to apply for a mortgage. This step can feel overwhelming but being prepared can help the process run more smoothly. Here's what you can expect when you apply:
What to expect when you apply
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Expect to choose your mortgage
You'll need to decide which mortgage is right for you. Make sure you understand the terms and conditions before going ahead. You might want to talk through your options with a mortgage advisor or broker.
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Expect to attend appointments
Most lenders will ask you to attend a mortgage appointment. You’ll usually have the option of a face-to-face appointment or a call, depending on what works best for you.
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Expect a credit check
Your lenders will check your credit history to decide whether to offer you a mortgage. It helps them understand how you've managed your money in the past.
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Expect a lot of paperwork
When you apply for your mortgage, you’ll be asked for plenty of paperwork. Get ready to share documents like payslips, bank statements, identification, and proof of address. Having these to hand can help speed things up.
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Expect to show proof of your deposit
You'll need to prove you have your deposit ready. And make sure you've planned for other homebuying costs like legal fees, valuation costs, or moving expenses.
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Expect regular communications
You'll receive paperwork and updates from your lender as your application moves forward. Responding promptly can help keep things on track.
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