Getting Mortgage-Ready: What to Do Before Applying | Really

Quick Answer

To get mortgage-ready, you'll need proof of income (payslips, P60), bank statements, ID documents, proof of address, and evidence of your deposit source. Start preparing 3-6 months before applying: clean up your credit file, reduce debts, and avoid making big financial changes.

Why preparation matters

A rejected mortgage application wastes time and can damage your credit score. Worse, it might mean losing the property you've set your heart on. Taking time to prepare before applying gives you the best chance of success.

Documents you'll need

Start gathering these documents now. Having everything ready speeds up your application and shows lenders you're organised.

Identity and address

Passport (current, valid)
Driving licence or other photo ID
Proof of address — Utility bill or bank statement from last 3 months
Proof of right to live in UK (if not a British citizen)

Income evidence (employed)

Last 3 months' payslips — More if you have variable income
P60 from your current employer
Employment contract — Especially if recently started
Letter from employer — Confirming role, salary, and permanence

Income evidence (self-employed)

Last 2-3 years' accounts — Prepared by an accountant
Tax returns (SA302) for last 2-3 years
Tax year overview from HMRC
Business bank statements — Last 3-6 months
Proof of upcoming contracts (if relevant)

Financial situation

Last 3 months' bank statements — All accounts
Proof of deposit source — Savings statements, gift letter if applicable
Details of existing debts — Loans, credit cards, car finance
Pension statements (if using for affordability)
Investment statements (if relevant to deposit)

Property details (once you've made an offer)

Property details — Address, price, estate agent
Lease details (for flats) — Length remaining

6-month countdown to applying

6 months before

Check your credit report

Get your free credit report from all three agencies:

Experian
Equifax
TransUnion

Look for:

Errors or wrong addresses
Accounts you don't recognise
Old debts you've forgotten about

Fix any issues now — disputes take time to resolve.

Register on the electoral roll

If you're not registered, do it immediately. This is one of the easiest ways to boost your credit score.

3-6 months before

Pay down debts

Focus on:

Credit card balances (aim for under 30% utilisation)
Overdrafts (get back to zero)
Small loans you can clear

Every £100/month of debt repayments reduces your borrowing power by roughly £15,000-£20,000.

Stop applying for credit

No new credit cards, phone contracts, or "buy now pay later." Each application leaves a footprint on your credit file.

Cancel unused credit

Close old credit cards and overdrafts you don't use. Too much available credit can worry lenders.

Don't close your oldest credit card if you've had it for years — age of credit history matters. Just stop using it.

1-3 months before

Stabilise your bank accounts

Lenders will review your statements, looking for:

Regular income
Consistent spending patterns
No gambling transactions
No unexplained large deposits

Avoid:

Bounced payments
Using your overdraft
Payday loans (even paid off, these are red flags)
Excessive spending on takeaways or subscriptions

Gather documents

Start collecting everything from the checklist above. Make digital copies — most applications are online now.

Get an Agreement in Principle

An AIP (also called a Decision in Principle) gives you a rough borrowing figure. It:

Usually involves a soft credit check (doesn't affect your score)
Is valid for 60-90 days
Shows sellers you're serious
Gives you a realistic budget

Common mistakes that delay or sink applications

Financial mistakes

Taking out new credit — Even buying furniture on finance
Changing jobs — Especially during probation periods
Large unexplained deposits — Looks like money laundering
Gambling transactions — Even small amounts raise concerns
Missing payments — Even one missed payment can hurt

Documentation mistakes

Submitting blurry documents — Use a scanner app, not quick phone photos
Missing pages — Statements must show all pages
Out-of-date documents — Most need to be less than 3 months old
Name mismatches — Ensure names match across all documents

Application mistakes

Applying to multiple lenders — Multiple credit checks hurt your score
Inaccurate information — Don't round up your salary or hide debts
Forgetting debts — Include everything, even £0 balance credit cards

Use a mortgage broker for your application. They submit to one lender at a time, protecting your credit score. They also know which lenders suit your circumstances.

Special situations

Recently self-employed

Most lenders want 2-3 years of accounts. Options if you have less:

Some lenders accept 1 year of accounts
Some will use your employed history plus short self-employed period
A broker can find specialist lenders

Just changed jobs

If you're still in your probation period, some lenders won't proceed. Options:

Wait until probation ends
Some lenders are more flexible with certain industries (NHS, teaching)
If it's a significant salary increase in the same industry, some lenders are relaxed