How much you can borrow is mainly determined by how much you earn and current credit commitments (income v expenditure). Different lenders help different types of clients so it makes sense to use a mortgage broker who can determine the right lender for your circumstances

You’ll need the following at least: Proof of ID, Proof of Address; Proof of Income; Proof of Expenses (bank statements usually); Evidence of where the deposit is coming from. It’s also a good idea to get an updated copy of your credit file

A deposit is the amount of money you need to contribute when buying your home. It’s described at a percentage of the purchase price. Eg. If you buy a home for £250,000, a 10% deposit will be £25,000. Lenders like you to contribute between 5% and 25% as a deposit but there are some lenders offering mortgages for the whole purchase price meaning you don’t need to provide a deposit. We can guide you through the process to determine the right approach for you.

As a general rule, lenders will assess all types of provable income. For employed people that will be payslips showing basic salary, overtime, commission, bonuses etc. For self employed people, you’ll need to show your latest 3 years tax returns (sole traders) and company accounts (company directors). For contractors or those with complex income lenders will need to see evidence of the latest 12 months payments. Some lenders will include some state benefits. With all types of income, lenders assess things in their own way so let us guide you to find the best solution for you.

Having bad credit doesn’t have to stop you from getting a mortgage. There are specialist lenders who aim to help people with bad credit get onto the property ladder. Even if you have CCJs, IVA or Bankruptcy in your credit history. Speak to us to see if we can help you realise your home ownership dreams.