Whether you’re buying your first home or haven’t applied for a mortgage in years, the process can feel like a maze.
With different lenders, jargon-filled forms, and strict checks, it’s easy to feel lost. At Your Mortgage Shop, we’re here to simplify things.
This step-by-step mortgage application guide will help you understand exactly what to expect—and how to get prepared.
Step 1: Check Your Credit Score
Before anything else, get a clear picture of your financial health. Lenders use your credit score to assess how risky it would be to lend to you.
Action tip:
Check your score with a reputable agency like Experian, Equifax or TransUnion. Look for errors, unpaid debts, or outdated information and work to improve your score if needed.
Step 2: Know What You Can Afford
Your affordability is a key factor. Lenders will assess your income, regular expenses, and any existing debt. They’ll also apply a “stress test” to ensure you can still afford repayments if interest rates rise.
Action tip:
Use an affordability calculator or speak to a mortgage advisor to get a realistic budget before house-hunting.
Step 3: Get a Mortgage in Principle
Also known as an Agreement in Principle (AIP), this is a statement from a lender saying how much they might be willing to lend you, based on the info you’ve provided.
Why it matters:
Having an AIP can make estate agents take you more seriously and can speed up the buying process when you find the right property.
Step 4: Gather Your Documents
Be prepared with the paperwork lenders need, including:
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ID (passport or driving licence)
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Proof of address (utility bills, council tax letter)
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Last 3–6 months of payslips or proof of self-employment income
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Recent bank statements
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Proof of deposit
Pro tip:
Make sure your name and address are consistent across all documents to avoid delays.
Step 5: Submit the Full Application
Once your offer on a home is accepted, it’s time to submit a full mortgage application. This will include a property valuation by the lender and full affordability and credit checks.
Timeline:
It usually takes 2 to 6 weeks to get a mortgage offer after your application has been submitted.
Step 6: Mortgage Offer & Legal Work
If approved, you’ll receive a formal mortgage offer. This is sent to your solicitor, who will handle contracts, searches, and liaising with the seller’s solicitor.
Step 7: Exchange & Completion
When contracts are exchanged, your purchase is legally binding. The lender releases the funds to your solicitor, and on completion day, you get the keys to your new home.
Applying for a mortgage doesn’t have to be stressful. With the right guidance, it can be a smooth and straightforward process. If you’re feeling unsure or just want expert help, our friendly team at Your Mortgage Shop is here to support you every step of the way.
Need help with your application?
Get in touch today—we’d love to help you secure your dream home!
