Applying for a mortgage is a thorough process, with lenders reviewing all of your outgoing costs when they assess what you can actually afford to pay each month. They will also assess your credit history to make sure you’re a reliable borrower, and to check any outstanding credit you currently have. To avoid unnecessary delays, it’s a good idea to spend some time checking your credit reports to make sure there are no errors that might cause your application to slip up.
You can contact one of the three main credit references agencies -Experian, CallCredit and Equifax- and order your reports, and this can often be done online. If there are any errors in your reports then you can correct them before you even apply for your mortgage. Take a few moments to register to vote if you haven’t already as this makes it easier for lenders to check your address. More information on credit scores and how you can help improve your score is available here.
You should also start collecting the documents you’ll need as part of your application to avoid any last-minute panic. A mortgage provider will typically want to see payslips from the last 3 months, your bank statements for the last 3-6 months, statements from your savings accounts, a P60 from your employer, proof of any benefits you receive, utility bills and your passport or driving licence. Collecting these in advance can spare you a lot of delays later on.