How to Become Mortgage-Ready

1. Get organised

Start with a clear picture of your finances. Clear down what debt you can, pull your credit reports and scores to gauge what you're likely to be able to borrow, and gather the paperwork — existing loans, monthly outgoings, assets — that any application will ask for.

2. Set a budget

Decide what you're genuinely willing to spend, based on household income, outgoings and savings. Once you know your monthly surplus, you can weigh what you can afford against what you'd like — and adjust by trimming costs, lifting income, or resetting the goal.

3. Start the search

With a price range in mind, begin browsing. Portals like Rightmove and Zoopla let you filter to your criteria, and checking what's actually selling nearby keeps your expectations realistic.

4. Line up the deposit

Investment purchases usually need a bigger deposit — around 20% is typical, since the usual mortgage insurance doesn't apply. The more you put down, the less you borrow; budget for extras like closing costs, and lean on online calculators to sense-check the monthly numbers.

5. Choose the mortgage

Shop around as carefully for the loan as for the property. Rates, fees and lenders vary widely, so compare not just the headline rate but who you'll actually want to deal with.