7. Register on the electoral roll
You should try to show lenders that you have a ‘stable’ lifestyle, for example you are in full-time employment and live at a fixed address. If you aren’t already, register for the electoral roll as you’re unlikely to get credit without it. Also if you can, provide information such as a landline number rather than a mobile number.
8. Be consistent and double check
It sounds simple, but one slip up on the application form could scupper your chances for securing a mortgage. This could be from a simple mistake, such as putting a salary of £3,000 instead of £30,000 but it could also be from inconsistent information (even on other mortgage application forms) as this can flag up possible cases of fraud and could slow down or stop your application altogether.
9. Get your paperwork organised
Applying for a mortgage can often mean providing quite a large sum of information, such as bank statements, payslips and credit card statements - our mortgage advisers can help you prepare for this.
Also bear in mind that submitting numerous applications in a short space of time could have a negative effect as lenders will worry about why you have been rejected before.
10. Keep saving
If you can show that you save regular amounts and you are actively trying to build up a deposit for a home, lenders will take notice of this. While it can seem hard at the start, over time it will get easier. Also consider government saving schemes such as the Help to Buy ISA which can boost your savings by up to £3,000.
Your home may be repossessed if you do not keep up repayments on your mortgage or any other loan secured on it.
*Research carried out by OnePoll on behalf of Barratt Homes, April 2015, among UK 2,000 adults.