Ask most first-time buyers what nearly derailed their mortgage and they won’t say the interest rate — they’ll say the paperwork. Applications stall far more often over missing documents than over affordability. Here’s what lenders really look for, and how to have it ready before they ask.
The core bundle
Three months’ payslips (or two years’ accounts and tax overviews if you’re self-employed), three months’ bank statements, photo ID, proof of your current address, and evidence of your deposit. If the deposit includes a gift from family, lenders will want a signed letter confirming it’s a gift, not a loan.
What trips people up
Statements that don’t show your salary landing. A name that differs between documents after marriage. Gambling transactions or an overdraft lived-in every month. Recent credit applications right before the mortgage one. None of these is automatically fatal — but each is far easier to deal with before a lender sees it than after.
Give yourself a head start
Check your credit report with all three agencies, register on the electoral roll at your current address, and settle small disputes (an old phone bill in collections can cost you a better rate). Then get a decision in principle before you book viewings — sellers take you far more seriously.
We’re not mortgage advisers and don’t recommend products — what we do is get you organised and introduce you to FCA-authorised advisers who search the market for you, then stay alongside you to completion day. Start at Mortgages or call 020 3355 8873.
