GUIDES
What Mortgage Lenders Look
For GoMortgage®
Because a lender wants to know you’ll be able to repay - so they check more than just your deposit.
When you apply for a mortgage, lenders don’t just look at one thing. They build a full picture of your financial life – income, stability, credit behaviour, debts, deposit, and property – to assess whether giving you a loan is a sensible risk. Here’s what they generally check.
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First Time Buyer Guides - What mortgage lenders look for
The Key Criteria Lenders Use
1. Income & Employment / Earnings Stability
- Lenders need to see that you earn enough (and reliably) to cover repayments, plus other expenses.
- If you’re employed: recent payslips, contracts, P60s or employment history help.
- If you’re self-employed / contractor / company director: accounts, tax returns, dividend details or company profit history are often required.
- Lenders also assess consistency – regular income over time is more reliable than a big one-off.
2. Deposit / Equity / Loan-to-Value (LTV)
- The size of your deposit or equity influences how much you borrow and how favourable the mortgage offer is.
- Lower LTV (i.e. larger deposit / more equity) often gives access to better rates and improves approval odds.
3. Credit History & Credit Score + Debt Behaviour
- Lenders run credit checks. They review past loans, credit cards, repayments, defaults, CCJs, bankruptcies, missed payments or other adverse history.
- A clean, stable credit history improves chances significantly – but past problems don’t always mean automatic rejection. It depends on how recent or serious they were, and how strong the rest of your financial picture is.
4. Outgoings, Debts, and Overall Affordability Stress-Test
- Lenders don’t just look at earnings – they check your regular outgoings (loans, credit cards, living costs, dependants, other commitments) to ensure you can realistically keep up repayments.
- They often stress-test the mortgage: checking your repayments against worst-case scenarios (e.g. higher interest rates, reduced income) to ensure sustainability.
5. Stability, Age / Term, and Property Value / Type
- Employment history, length in job or business, stable income history — these all help prove you’re “low risk”.
- The property you buy also matters – value, type, condition, and whether the deposit-to-value ratio is sensible given the loan size.
6. Documentation, Transparency & Honesty
- Borrowers need to supply accurate ID, proof of address, income documentation (payslips, accounts, bank statements), deposit evidence – to prove identity, income and deposit sources.
Hidden debt, large unexplained transactions, or inconsistent financial behaviour can raise red flags – lenders value transparency and consistency.
Access Your Credit Report
Knowing exactly what lenders see is the first step. Checkmyfile lets you view your full credit picture across all three UK agencies in one place, helping you spot issues, track progress, and avoid surprises before you apply.
What Can Work Against You (or Limit What You Borrow)
Here are common “risk” factors lenders watch out for – and might reduce how much they offer (or whether they offer at all):
- Low deposit / high Loan-to-Value (LTV)
- Weak income, irregular earnings, or unstable employment/self-employment history
- Poor or recent blemished credit history (defaults, CCJs, missed payments)
- High levels of existing debt or regular outgoings (credit cards, loans, other repayments)
- Property type or condition that’s considered risky or non-standard by lender
- Insufficient documentation, unclear income, or unexplained deposit origins
Many of these can be overcome – but lenders will want a strong overall profile
How GoMortgage Presents Clients to Get the Best Chance
At GoMortgage, we don’t approach lenders blind. We help you prepare a complete, realistic, and honest application that makes sense.
Here’s how we help:
- We review all aspects of your finances: income, debts, outgoings, deposit, savings, credit report – and advise honestly on affordability.
- We match you to the right lender for your situation – not the “standard” lender, but the one whose criteria fit your profile (self-employed, low deposit, past credit issues, non-standard property, etc.).
- We help you prepare documentation properly – payslips/accounts, bank statements, ID, deposit proof – avoiding common pitfalls that delay or reject applications.
- We stress-test affordability to see if your repayments are realistic long-term, even if interest rates go up or your circumstances change.
We advise on fixing or strengthening weak spots, where possible – deposit top-up, clearing unsecured debt, improving credit behaviour, documenting income properly.
What to Do When You’re Ready - Start with Clarity
If you want to get a mortgage and don’t know where to start: call GoMortgage® on 01253 935050.
We’ll run a free, no-judgement pre-check of your finances – show you what you could borrow (realistically), what you need to improve (if anything), and which lenders might accept you.
Because the difference between “maybe” and “yes” often comes down to presentation – let us handle that bit, so you don’t miss out.
We hope you enjoyed our guide on what mortgage lenders look for.
Speak With A Mortgage Advisor today
Contact our friendly mortgage advice team today. Sound mortgage advice from the experts at GoMortgage.
Author: Chris Days - Gomortgage
- 5 Mins
- Updated: Nov 17th 2025
Frequently Asked Questions
How big a deposit do I need?
Minimum often 5-10%, but the higher the deposit, the stronger your application, and the better rate you might get.
What if I’m self-employed, a contractor, or have unusual income?
No problem – we specialise in those cases. We know which lenders accept non-standard income and how to present accounts, dividends or contract income clearly.
Will bad credit stop me from getting a mortgage?
Not automatically. We’ve secured mortgages for people with imperfect credit records. What matters is how recent or serious any credit issues were – and your overall affordability, deposit and stability.
Are there extras I need to budget for beside the deposit?
Yes. Legal fees, stamp duty (if applicable), valuation fees, moving costs, insurance, and ongoing bills/maintenance. We help you plan for those.
How long until I’m mortgage-ready?
If you have income, deposit, and documentation in place – sometimes just a few weeks. If not, we’ll help you build a plan to get there.
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Speak With A Mortgage Advisor.
Contact our friendly mortgage advice team today. Sound mortgage advice from the experts at GoMortgage.
