5 Steps to Kick Start Your Mortgage Journey

How to prepare for mortgage application?

Deciding to buy your first home is a massive decision – But once you’ve made that decision, you’re on the way to making the dream a reality.

You know what they say – action cures fear! At Mortgage123, we bring you five simple steps to kick start the process and get you closer to holding those keys in your hands.

1. Do the Mortgage Maths

The first thing you need to know when you prepare for a mortgage is how much you are actually eligible to borrow. We will help you figure this out. You just need to answer a few top line questions about your salary and marital status, etc. to get an estimation of what you can borrow. If you have some time, you can quickly complete our Online Form, and we will quickly assess for you where you stand and what you need to prepare for mortgage application.

You can get a quick idea of how much you can borrow by using one of our Mortgage Calculators

2. Face Time with a Mortgage Advisor

Talking to an advisor is the next step.

You don’t need to have a deposit saved, or even your paperwork in order to chat to someone about what the best course of action is.

There is no point in spending hours trying to figure it all out at home when there are experts ready to answer any query you have – no matter how silly it may seem. You can arrange a phone call or meeting with an advisor, even chat to us over the Mortgage123 LiveChat. There is always a mortgage advisor online.

3. Start Saving

Okay, this is the trickiest bit, but the good news? It doesn’t matter what you’ve done up until now – you can still start today.

The key is to save smart. Don’t just throw a few extra cents in the piggy bank when you’re feeling flush, plan ahead for maximum saving success.

We are happy to advise on a solid saving strategy.

4. Paperwork: Prepare for Mortgage

Get the fancy folders out – it’s time to get organised. The bank needs proof that you’ll be able to repay the mortgage loan – so they’ll need to see things like payslips, bank statements, credit card bills, etc.

We can provide you with a mortgage checklist.

5. Getting Mortgage Approval

Once your deposit is sorted, you can apply for Approval in Principle. This means, the bank is agreeing in principle to give you a mortgage, and you’ll know what your budget is for your first home.

Mortgage Guide

Get the information you need to start your journey to buying your dream home!

Mortgage Checklist

A list of the key documents you need when applying for your mortgage.

After AIP Guide

If you have Approval in Principle, this guide will help you with the next steps.