1. đź’ł Improve Your Credit Score
Lenders look closely at your credit history to determine how reliable you are at managing money. A higher credit score can mean access to better mortgage deals and lower interest rates.
How to boost your score:
- Register on the electoral roll at your current address
- Make all repayments (credit cards, bills, loans) on time
- Keep your credit card balances low
- Avoid applying for lots of new credit in a short space of time
- Check your credit report regularly for errors (try Experian, Equifax, or TransUnion)
Even a few small changes can make a big difference over time.
2. đź’° Save for a Bigger Deposit
The more you can put down as a deposit, the better your loan-to-value (LTV) ratio—and the more attractive you’ll look to lenders.
Benefits of a bigger deposit:
- Access to lower interest rates
- Smaller monthly repayments
- Greater choice of lenders
While some mortgages are available with 5–10% deposits, aiming for 15–20% can significantly improve your options.
3. 📉 Lower Your Debt-to-Income (DTI) Ratio
Your debt-to-income ratio is how much you owe each month compared to how much you earn. Lenders use this to assess how much you can realistically afford.
How to improve your DTI:
- Pay off or reduce credit cards and loans where possible
- Avoid taking on new debt (like car finance or buy-now-pay-later) before applying
- Don’t max out your available credit limits—even if you’re paying it off monthly
The lower your DTI, the more confident a lender will be in your ability to manage mortgage repayments.
4. đź“ť Get Pre-Approved (Agreement in Principle)
A mortgage Agreement in Principle (AIP) shows how much a lender might be willing to lend you based on your financial situation. It’s not a guarantee, but it does give you:
- A clear budget when house hunting
- Confidence when making offers
- Reassurance to estate agents and sellers that you're a serious buyer
A broker can help you get a quick, no-obligation AIP based on your circumstances.
5. 🔄 Avoid Major Financial Changes Before Applying
Lenders like to see stability. If you're planning to apply for a mortgage soon, avoid:
- Changing jobs
- Opening new credit accounts
- Making large purchases on credit (cars, holidays, etc.)
Big financial changes can affect your affordability and raise red flags during underwriting. Keep things steady for a few months before and during the application process.
🎯 Bonus Tip: Speak to a Mortgage Broker
Every lender has different criteria—and what’s a “no” from one may be a “yes” from another. A mortgage broker can help:
- Match you with the right lender for your situation
- Save you time, stress, and potentially thousands of pounds
- Help you get "mortgage ready" before you apply
At Go2Mortgages, we look at your full picture and offer tailored advice to help you succeed, whether you’re buying now or planning ahead.
âś… Ready to Get Started?
Get in touch with our friendly team today for a no-obligation chat about how we can help you prepare and find the right mortgage for your situation.
Because getting a mortgage isn’t just about getting any mortgage—it’s about getting the right one.
Related reads:
đź”— [The Remortgage Process & Why You Should Use a Broker]
đź”— [Can I Still Get a Mortgage on Maternity Leave?]
đź”— [Mortgage Protection: What It Is & Why You Need It]
Your home may be repossessed if you do not keep up repayments on your mortgage.
The information contained within was correct at the time of publication but is subject to change.
