Getting a mortgage can feel like a maze, but knowing the exact requirements cuts the stress. Lenders look for a few core things: proof of income, a decent credit score, enough cash for a down payment, and solid paperwork. Meet these basics and you’ll be on the fast track to owning a home.
First up, income proof. Most banks ask for your last three payslips and a recent P60. If you’re self‑employed, you’ll need two years of accounts and a tax return. The goal is to show steady earnings that cover your mortgage payments.
Next, bank statements. Expect to hand over the last three months of statements for all accounts. Lenders scan them for regular deposits and any red flags like overdrafts or large, unexplained withdrawals.
Credit history comes third. A score of 620 + usually gets you a basic mortgage, but 700 + opens the door to better rates. Check your credit file for errors before you apply and fix any missed payments.
Down payment proof is also essential. Whether you’ve saved cash, a gift from family, or a Help to Buy equity loan, you’ll need a statement showing the source of the funds. Lenders want to be sure the money is yours and not a borrowed loan.
Finally, identification. A passport or driving licence plus a recent utility bill for address verification wraps up the paperwork.
Start by cleaning up your credit report. Pay off any lingering credit‑card balances and avoid taking out new loans a month before you apply.
Save a bigger deposit if you can. Moving from a 5 % to a 10 % down payment can drop your interest rate dramatically.
Keep your employment stable. Switching jobs right before you apply can raise questions, so try to stay put for at least six months.
Gather all documents early. Having payslips, statements and tax returns ready speeds up the assessment and shows you’re organized.
If you have a low credit score, consider a guarantor mortgage. A trusted family member co‑signs, which can offset the risk for the lender.
Lastly, talk to a mortgage broker. They know which lenders are flexible and can match you with a product that fits your profile.
Meeting the basic home loan requirements isn’t rocket science. Focus on steady income, a clean credit record, a solid deposit and the right paperwork. Follow these steps and you’ll be much closer to getting the keys to your new home.
Curious about the credit score you need to buy a house with zero down? Here’s an in-depth, people-first guide for 2025 on qualifying for a no money down mortgage.