January 2026
Applying for a mortgage can feel like a big step, especially if you’re buying your first home. Between deposits, interest rates and affordability checks, there’s a lot to get your head around.
Whether you’re just starting to save or getting ready to submit your application, this guide covers practical tips for applying for a mortgage, including how to prepare financially, improve your chances of approval and take your next step towards homeownership with confidence.
If you’re researching mortgages for the first time, you might be wondering exactly how they work.
A mortgage is a loan from a lender that helps you buy a property. You borrow money from the lender and pay it back over an agreed period, usually between 25 and 35 years.
Your mortgage is secured against the property, which means if repayments aren’t kept up, the lender could repossess your home.
When buying a home, you’ll usually contribute a deposit upfront and borrow the remaining amount through a mortgage.
For example, if a home costs £250,000 and you have a 10% deposit (£25,000), you’d typically need a mortgage for the remaining £225,000.
The amount you can borrow depends on several factors, including:
Mortgage lenders will carry out affordability checks to make sure the repayments are manageable for you both now and in the future.
If you’re at the beginning of your journey, our first-time buyer hub can help you understand the process in more detail.
Mortgage interest rates explained simply: interest is the cost you pay for borrowing money from a lender.
Your monthly repayments will usually include:
There are different types of mortgage rates available, including:
Interest rates can affect how much you pay each month, so it’s worth comparing options carefully before applying for a mortgage.
A larger deposit may also help you access more competitive mortgage deals.
Getting organised before you apply can make the whole process smoother and improve your chances of approval.
Before you start house hunting, it’s important to understand your budget.
Lenders look closely at affordability, not just your salary. They’ll also consider your regular spending, existing credit commitments and household bills.
Creating a realistic monthly budget can help you understand what mortgage repayments may feel comfortable alongside your other costs.
It’s also worth factoring in additional buying expenses such as:
Using affordability calculators and speaking to a mortgage advisor can help you get a clearer picture of what you may be able to borrow.
You can also read our guide to budget and affordability for more support.
Your credit score plays an important role when applying for a mortgage as a first-time buyer.
Lenders use your credit history to understand how reliably you manage borrowing and repayments.
A few simple steps could help improve your credit profile:
If you’re renting, services like CreditLadder or Canopy may allow your rent payments to contribute towards your credit history too.
Our guide on improving your credit score to buy a house has more practical tips to help you prepare.
Saving for a house deposit can feel challenging, but small, consistent habits can make a real difference over time.
Many lenders prefer at least a 5% deposit, although a larger deposit may give you access to better mortgage rates.
Alongside your deposit, remember to budget for additional upfront costs too.
Some helpful ways to save include:
At Persimmon, we also offer schemes designed to help make buying more achievable for first-time buyers.
You can explore our first-time buyer schemes to see what support may be available.
An Agreement in Principle, sometimes called an AIP or Decision in Principle, is a statement from a lender showing how much they may be willing to lend you.
It’s not a formal mortgage offer, but it can be an important early step.
Having an Agreement in Principle before viewing homes can give you a clearer understanding of your budget and show sellers you’re a serious buyer.
Estate agents may also ask whether you already have an AIP in place before accepting an offer.
Getting organised early can help speed up the buying process once you find the right home.
Not all lenders offer the same mortgage products, rates or eligibility criteria.
Comparing mortgage deals carefully could help you find an option better suited to your circumstances.
Things worth comparing include:
A mortgage broker may also help you compare products across multiple lenders and explain the options available to you.
Each full mortgage application can leave a hard search on your credit report.
Submitting multiple applications within a short period could affect your credit score and make lenders cautious.
Instead, try to narrow down your options before applying and use eligibility checkers where available.
Most Agreements in Principle are only valid for a limited time, often between 30 and 90 days.
If your property search takes longer than expected, you may need to reapply or update your information with the lender.
Keeping your finances stable during this period can help avoid complications later.
Once you’re ready to apply, preparation is key.
Mortgage applications involve a fair amount of paperwork, so gathering documents ahead of time can help things move more smoothly.
Lenders will usually ask for:
If you’re self-employed, you may also need tax calculations or business accounts.
Having everything ready early can help avoid delays during the approval process.
Lenders want to see consistency and financial stability.
In the months leading up to your application, it’s usually best to:
Large unexplained transactions or sudden changes in finances may lead to additional lender questions.
Reducing outstanding debts could improve your affordability position and potentially increase the amount you’re able to borrow.
Even small improvements to monthly commitments can make a difference.
Focus on paying down:
Lenders will assess your existing financial commitments carefully when reviewing your application.
Once you’ve found your home and chosen your lender, it’s time to submit your application.
A mortgage broker can help guide you through the application process and explain different mortgage products in simple terms.
Some brokers also have access to deals that aren’t always available directly to customers.
If you’re unsure where to start, a broker may help:
If you'd like help to choose the right mortgage, we can put you in touch with one of our independent financial advisors.
After submitting your mortgage application, lenders may continue reviewing your finances until contracts are exchanged.
During this stage, try to avoid:
Staying financially consistent can help prevent delays or issues with your mortgage approval.
It’s completely normal for lenders to ask follow-up questions during the process.
They may request:
Responding quickly and keeping documents organised can help keep everything moving smoothly.
Buying your first home is a big milestone, but you don’t have to navigate it alone.
At Persimmon, we’re here to help make the journey feel simpler, from understanding mortgages and deposits to exploring buying schemes designed for first-time buyers.
Our modern, energy-efficient homes are built for everyday living, with developments in well-connected locations across the UK.
You can also explore:
Whether you’re still researching or ready to reserve your new home, we’re here to help you take the next step with confidence.
Find your new home! Want to get moving? Contact us at one of our developments with your enquiry for friendly, no-nonsense help and advice.
