Securing a mortgage is increasingly challenging, especially with rising interest rates and economic uncertainty. For many, the process can feel overwhelming, but proper preparation can make all the difference. By strategically improving your financial standing and understanding what lenders look for, you can significantly boost your chances of mortgage approval.
Check Your Credit Score
Your credit score is a crucial factor in mortgage approval. Lenders use it to assess your reliability in repaying debts. To start, regularly monitor your credit reports from all three major UK agencies—Experian, Equifax, and TransUnion.
Look for inaccuracies that might negatively impact your score and correct them promptly. Beyond that, take proactive steps to improve your credit score, such as reducing outstanding debts, avoiding new credit applications, and ensuring all bills are paid on time. Even small improvements can make a significant difference when applying for a mortgage.
Reduce Existing Debts
Managing your existing debts is crucial when applying for a mortgage. Lenders look at your debt-to-income ratio to determine if you can handle additional borrowing. Paying down high-interest debts like credit cards and personal loans will lower this ratio, making you more appealing to lenders.
It’s also wise to avoid large purchases or taking on new debt before applying for a mortgage, as this could negatively impact your application.
Increase Your Deposit
The size of your deposit significantly influences both your mortgage approval chances and the interest rate you’re offered. A larger deposit reduces the loan-to-value (LTV) ratio, making you less of a risk to lenders. This could lead to better rates and easier approval.
Explore all options to boost your deposit, such as saving more aggressively, using family gifts, or taking advantage of government schemes. A higher deposit strengthens your application and potentially saves you money in the long run.
Register on the Electoral Roll
Being on the electoral roll is essential for mortgage applications. Lenders use it to verify your identity and address. If you’re not registered, do so as soon as possible, as it’s a key factor in building a strong credit profile.
If you’re ineligible to vote, consider adding a notice of correction to your credit file to explain your situation and provide alternative proof of identity. The notice of correction can also be used to explain any confirmed fraud. This should include the time period of the fraud and the impact it had
Consider Your Employment Status
Your job stability is a major consideration for lenders. Permanent employees generally find it easier to secure a mortgage than those in temporary roles or self-employed. If you’re self-employed, ensure you have at least two years of financial records to demonstrate consistent income. Stability and reliability in your employment status can significantly improve your mortgage application.

Manage Your Credit Usage
How you use your available credit is just as important as the amount you owe. Lenders prefer to see that you’re not using too much of your credit limit. Ideally, keep your credit utilisation below 25% of your total available credit.
Avoid reducing credit limits before applying, as this could increase your utilisation ratio and make you seem financially stretched.
Close Inactive Accounts
While closing old, unused accounts can reduce fraud risk, be cautious. Long-term credit relationships can positively impact your credit score. If you have older accounts with a solid history, consider keeping them open to maintain that benefit. However, closing inactive accounts that no longer serve a purpose can streamline your finances and reduce potential risks.
Pay Bills on Time
Consistency is key when it comes to paying bills. Lenders look for a history of reliable payments as it indicates financial responsibility. Even a single missed payment can stay on your credit file for years and harm your mortgage chances. To avoid this, set up direct debits or reminders to ensure all bills are paid on time, every time.
Avoid New Credit Applications
In the months leading up to your mortgage application, steer clear of applying for new credit. Each application triggers a hard inquiry on your credit report, which can temporarily lower your score. Multiple applications in a short period can signal to lenders that you’re financially overextended, which could harm your chances of mortgage approval.
Control Your Spending
Lenders scrutinise your spending habits when assessing your mortgage application. In the months leading up to your application, try to reduce unnecessary expenses. Avoid large, non-essential purchases and keep your budget tight. Demonstrating financial discipline and a healthy balance between income and outgoings can make you appear more reliable to lenders during affordability checks.
Stay Out of Your Overdraft
Regularly dipping into your overdraft can signal financial instability, which is a red flag for lenders. Avoid using your overdraft entirely in the months before applying for a mortgage if possible. If you’re currently reliant on it, consider strategies to reduce or eliminate that dependency
Monitor Your Online Presence
Lenders may conduct online searches to assess your character and financial responsibility. Ensure your social media profiles and public posts are appropriate and don’t raise any red flags.
For business owners, maintaining a professional and accurate online presence is particularly important, as lenders might look for signs of stability in your business.

Use Rent to Boost Credit
If you’re renting, signing up for schemes that report rent payments to credit agencies can improve your credit score. Consistently paying rent on time reflects positively on your financial reliability, making you more appealing to mortgage lenders.
Add Extra to Your Deposit
A small increase in your deposit can have a big impact on your mortgage approval. Even an extra £100 can push you into a lower loan-to-value (LTV) bracket, improving your chances of getting a better rate and boosting lender confidence. If you’re close to a key LTV threshold, it’s worth finding additional funds to cross that line.
Prepare Your Documents Early
Being organised with your paperwork is crucial for a smooth mortgage application. Gather essential documents—bank statements, payslips, proof of deposit, and ID—well before you apply. Having everything ready reduces delays and signals to lenders that you’re a serious applicant. Missing or incomplete documents can slow down the process and may even jeopardise your application.
Complete Applications Accurately
Accuracy is vital when filling out your mortgage application. Ensure every detail, from income to address history, is correct and consistent across all documents. Mistakes or discrepancies can cause delays or rejections, so double-check everything before submitting. Honesty is also key—disclose all debts and expenses, as lenders will verify the information.
Test Your Chances with an AIP
Obtaining an Agreement in Principle (AIP) offers a preliminary indication of how much you can borrow. While it’s not a guarantee, an AIP can provide insight into your borrowing capacity and reassure sellers that you’re a serious buyer. However, be cautious about multiple AIP applications, as they can impact your credit score if too many hard credit checks are conducted.
Handle Rejections Wisely
If your mortgage application is rejected, don’t panic or rush to reapply elsewhere. Instead, pause and review your credit report to identify any potential issues. Correcting errors or addressing weaknesses before reapplying can improve your chances of approval. Understanding why you were rejected can also help you strengthen your next application, avoiding unnecessary damage to your credit score.
Consider Consulting a Financial Advisor
Navigating the mortgage process can be complicated, especially if you have a unique financial situation. At Haven Financial Planning, we offer personalised advice to help you enhance your mortgage application and find the best deals. Our experts can guide you through the process, ensuring you’re well-prepared and informed. Reach out to us for professional support in securing the right mortgage for you.
Securing a mortgage requires careful planning and attention to detail. By following these 19 tips, you can greatly improve your chances of obtaining a mortgage at a favourable rate. Whether it’s managing your credit score or seeking expert advice from Haven Financial Planning, every step you take strengthens your application. Don’t hesitate to seek professional guidance if you’re unsure—having the right advice can make all the difference in achieving your homeownership goals.