5 min read
From saving for a deposit and checking your credit report, to obtaining an agreement in principle, we cover everything you need to know when getting a mortgage. Our exhaustive guide includes buy-to-let and shared ownership mortgages, and how to get a mortgage if you’re self-employed, have no deposit, or have a poor credit rating.
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Buying a home is one of the biggest financial decisions you'll ever make, and for most people, it requires a mortgage. If you’re looking to buy a house and wondering how to get a mortgage, below is the information you need to know before starting your mortgage application.
In this article:
The typical UK mortgage involves saving a deposit, working out how much you can theoretically borrow through a mortgage in principle, and getting this approved by a mortgage lender once you’ve made an offer on a property.
Generally, you need between 5% and 20% of the property’s price. As of April 2026, the average home currently costs over £271,500 to buy, meaning you would need a deposit in the range of £13,575 to £54,300.
The more money you have for a deposit, the wider range of mortgages you’ll have access to. This could mean lower interest rates and cheaper repayments. Read our top tips to help you save for a deposit.
How much you can borrow depends on the amount of deposit you’re able to provide, the repayments you can afford and your credit history.
Mortgage providers will look at how much you earn and your outgoings to make sure you can keep up with repayments.
Another way a bank checks whether you’re a suitable candidate for a mortgage is by checking your credit score. Before applying for your mortgage, it’s important you check your credit score details to make sure they’re accurate. You may need to request to see your credit report, however it won’t cost you anything and should only take a few minutes online.
Mortgage advisers are extremely helpful when getting a mortgage, as they understand the market, know which products are available, and assess your financial situation to help you make informed decisions. They'll explain the different types of mortgages, such as fixed rate mortgages, variable mortgages and sharia mortgages.
Note: You don't have to use a mortgage adviser when getting a mortgage; you can research yourself. If you do this, checking things such as the base rate, can be a good indication of which mortgage type is better in the current market.
A mortgage in principle gives you a clear idea of your borrowing power before you start house hunting. For a complete look at how this impacts your credit score and what documents you'll need, read our full guide on how to get a mortgage in principle.
Complete the mortgage application process by providing the relevant documents, such as your proof of identification, proof of income, bank statements, and proof of deposit.
The mortgage process can differ slightly depending on the type of property you want to buy, such as buy-to-lets or shared ownership.
When getting a buy-to-let mortgage, similar to a traditional mortgage, you need to prove you can afford the repayments, and the amount you can borrow is proportional to the projected rental earnings from the property. Buy-to-let schemes are considered higher risk by lenders, so you’ll usually need a good or excellent credit score and proof of income aside from rental earnings.
To get a buy-to-let mortgage in the UK, you typically need a 25% deposit (as opposed to the typical 5 - 20%).
Important to note is that buy-to-let is an investment scheme, rather than a direct path to home ownership. Eligibility is often stricter, including minimum and maximum age requirements, and higher personal income.
You must also decide if you want to apply as an individual or as a Limited Company (this will offer tax benefits, but requires a more specialised mortgage).
The amount you can borrow for a buy-to-let mortgage is based on the estimated average monthly rental income the property will pull in – this should cover around 125% of your mortgage interest repayments. This means a monthly rental income of £500 will be sufficient for £400 interest payment, for example.
Often, buy-to-let mortgages are interest only, which is when you only pay off the interest and not the original loan. While this improves cash flow, it means that at the end of your mortgage you still won’t own the property, and will need a plan to repay the original loan (the capital).
If you want to know more about buy-to-let properties and mortgages, read our dedicated guide about buy-to-let properties.
Getting a shared ownership mortgage involves buying a share of a property (usually between 25 - 75%), and paying rent on the rest to the landlord. Getting a shared ownership mortgage is slightly different to a traditional mortgage.
This type of mortgage usually requires a deposit of around 5-10% of the value of the share you are buying.
You must have an income of under £80,000 (or £90,000 in London), and either be a first-time buyer or unable to afford property currently.
You must apply for a shared ownership mortgage through a broker, such as a housing association. You cannot apply directly through a typical lender. Ensure you meet the criteria for the specific scheme you are applying through, as they’ll check your eligibility and assess if you can afford the repayments, similar to a traditional mortgage
If you pass these checks, you will then receive a mortgage offer.
If you want to know more about shared ownership, read our dedicated guide about shared ownership properties.
Absolutely! Using a mortgage for an auction property can be a viable option, although it requires quick action and careful planning, especially if you're buying a house at a traditional auction, as you only have a 28 days to secure financing and complete your purchase. If you're buying through the modern method, you have 56 days, which is usually enough time to secure a mortgage.
If you plan to use a mortgage to buy your auction property, you should have a contingency plan, so you don't get penalised. A bridging loan can be used as a short-term alternative to provide access to the funds before your mortgage is finalised.
It’s important to choose a mortgage deal you can afford, and make sure you understand any conditions and extra fees involved.
You can apply for a mortgage online or over the phone, depending on what works best for you.
Buying a new build property comes with some specific considerations for mortgage applicants:
Most mortgage offers are valid for six months. New build properties can take longer to complete, so you may need to apply for an extension or reapply closer to completion.
As some developers offer cashback or free upgrades, lenders need to be informed of any incentives upfront, as they can affect the lending terms.
Many new build flats are leasehold — ensure you check the lease length carefully, as lenders will typically require at least 70 to 85 years remaining above the mortgage term.
Some lenders apply stricter loan-to-value (LTV) limits on new build properties, particularly flats, so you may need a larger deposit than you would for an equivalent older property.
Other than these considerations, the mortgage process for a new build is much the same as for a more traditional property.
Once you've secured your mortgage, our experienced conveyancing specialists can handle the legal side of your purchase. Get a personalised quote today and take the next step towards your new home.
As mortgage lenders look at your employment history alongside your current job, it is important to understand how this can impact whether you can get a mortgage and how much you can borrow
Switching jobs during a mortgage application is generally not recommended. Lenders tend to prefer applicants with a stable and consistent employment history, as it gives them confidence in your ability to meet financial commitments. Changing jobs can raise concerns about income stability and may lead to your application being delayed or even denied. While it doesn't necessarily prevent you from getting a mortgage, it can make the process more complicated and time-consuming.
Getting a mortgage when you're self-employed can be trickier as there is often stricter lending criteria. However, rest assured that with the right preparation, it is entirely possible. Usually, lenders require you to provide a verified record of your earnings for the past two years, rather than the last three months like a standard mortgage.
Sole traders and partnerships are assessed on their share of net profit. Company directors are typically assessed on salary plus dividends, and some lenders will also consider retained profits within the business.
If you've been self-employed for less than two years, your options are more limited, but some lenders will consider applications with one year's accounts, particularly if you were previously employed in the same field.
Speaking with a mortgage adviser can be helpful as they can guide you to lenders who are more accommodating to self-employed applicants and provide advice on the products available to you.
If you work through a limited company or on a day-rate contract basis, some lenders will assess your income differently from a standard self-employed applicant. Specialist contractor mortgages use your day rate multiplied by your contracted working days to calculate income, rather than requiring years of company accounts. This can result in significantly higher borrowing potential for contractors on competitive day rates.
Mortgage lenders look in detail at your current income and expenditure. This again impacts both your eligibility and how much they will lend you, as they need to be certain you will be able to afford the monthly repayments.
In some cases it is possible to get a mortgage without a deposit, however the products available are quite rare and come with specific conditions:
100% Mortgages: These are making a comeback. If you can demonstrate a strong history of rental payments, you may qualify. This option allows you to borrow the full property value without a deposit.
Guarantor Mortgages: Another pathway involves what's known as a guarantor mortgage. Here, a third party, often a family member, agrees to cover the mortgage payments if you can't. This individual assumes some of the risk, effectively allowing you to secure a mortgage without a deposit.
Whether opting for a 100% mortgage or a guarantor mortgage, you should thoroughly examine the terms and conditions as both options can have long-term financial implications. Make sure to compare your options and consult with a financial advisor to ensure you choose a path that aligns with your financial situation and future goals.
Securing a full mortgage offer with poor credit history is more challenging, but it is possible. Unlike the initial agreement stage (a mortgage in principle), a full mortgage application involves a hard credit check, where lenders will deeply analyse the last six years of your financial history.
Lenders will look at the exact context of your credit history to weigh the risk:
The type of issue: Minor issues like a late mobile phone bill are treated much more leniently than bankruptcy, for example.
The timing: Older issues matter less than recent ones. If you had financial trouble four years ago but have a clean track record since, you are much more likely to be accepted.
If your credit history is poor, you may need to look beyond high-street banks and use a specialist lender. You should also expect to pay a higher interest rate and provide a larger deposit (often 15% to 20%) to offset the risk. Speaking to a fee-free mortgage adviser is the safest route to finding these lenders without hurting your credit score with multiple applications.
To get a mortgage on a low income, there are a few avenues you can consider:
Increasing the size of your deposit so you borrow less, and the risk is smaller to lenders
Improving your credit score to prove reliability
Reduce any outstanding debts to lower your outgoings
If you are a first-time buyer, review government schemes like shared ownership, rent-to-buy, and the first home scheme
Review joint or family-backed mortgage options from lenders
Look at specialist lenders who handle applications for low or unconventional incomes
There’s no set minimum income to get a mortgage, as it’s relative to the size of the required monthly repayments. What matters is proving that you’ll be able to afford these repayments. If you’re worried about your income level, speaking to a mortgage broker can help showcase your options.
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