Getting a mortgage is one of the biggest steps in buying your first home, and it’s completely normal to have questions along the way.
From saving your deposit to submitting your application, there are a few key stages to understand. We’re here to guide you through them, so you feel confident and ready when the time comes to take that next step.
Step 1: Saving for Your Deposit
Before applying for a mortgage, you’ll need to have a deposit in place.
Many lenders look for around 5–10% of the property’s value, although this can vary depending on your circumstances. Saving a larger deposit can sometimes give you access to better rates and help reduce your monthly payments.
Step 2: Getting an Agreement in Principle
An Agreement in Principle gives you an idea of how much you could borrow.
It’s usually quick to arrange and involves a soft credit check. While it’s not a formal mortgage offer, it can give you confidence as you begin your search and shows sellers that you’re in a strong position.
Step 3: Understanding Your Options
There are a range of mortgage types available, and the right one will depend on your plans and preferences.
Some offer fixed monthly payments for a set period, giving you more certainty, while others can change over time depending on interest rates. Taking the time to understand these options can help you choose what feels right for you.
Step 4: Preparing Your Application
When you’re ready to apply, lenders will look at your financial situation in more detail.
This includes your income, credit history and spending habits. Keeping your finances well managed, building savings and showing regular payments can all help strengthen your application and improve your chances of approval.
Step 5: Getting the Right Support
Choosing a mortgage can feel complex, but you don’t have to do it alone.
Speaking to a financial advisor can help you understand your options and find a mortgage that suits your circumstances. They can also support your application and help make the process feel more straightforward.
At Tilia Homes, we work with trusted advisors who can guide you through this stage, while still giving you the flexibility to choose what works best for you.
Ready to Take the Next Step?
Getting a mortgage might feel like a big step, but with the right support and a clear understanding of the process, it becomes much more manageable.
At Tilia Homes, we’re here to help you feel ready, informed and confident as you move towards owning your first home.
