How to Get a Mortgage: A Simple Step-by-Step Guide

Understand What a Mortgage Is

If you’re learning how to get a mortgage, start with the basics. A mortgage is a large loan used to buy a property. You borrow from a lender and repay the amount over a set period—usually with interest.

Understanding terms like interest rates, loan-to-value, repayment types, and mortgage terms gives you confidence when comparing different lenders and deals.

1. Check Your Finances First

Before applying, take a clear look at your financial position.Review your income, expenses, savings, and outstanding debts.

Review your income, expenses, savings, and outstanding debts.
Check your credit score, as this heavily influences what lenders will offer you.

The stronger your financial profile, the better your chances of securing a competitive mortgage deal.

2. Decide How Much You Can Afford

Working out your budget is a crucial part of learning how to get a mortgage.

Consider how much you can afford to borrow and what monthly repayments you can comfortably manage.
Don’t forget extra costs such as stamp duty, legal fees, survey costs, insurance, and moving expenses.
Setting a realistic budget reduces financial stress later on.

3. Research Different Mortgage Types

There isn’t a one-size-fits-all mortgage. Explore options such as:

Fixed-rate mortgages for stability
Variable or tracker mortgages for potential flexibility
Interest-only mortgages for lower monthly payments (but higher risks)

Each mortgage type has advantages depending on your income, long-term plans, and risk tolerance.

4. Get a Mortgage in Principle

A Mortgage in Principle (MIP) or Agreement in Principle shows how much a lender is likely to loan you based on your initial information.

This strengthens your position when making an offer, signalling to sellers and estate agents that you’re a serious, financially prepared buyer.

5. Compare Lenders and Deals

Never settle for the first mortgage you see. Compare:

Interest rates
Arrangement fees
Early repayment charges
Flexibility of terms

You can also use a mortgage broker to help you shop the market and identify deals that best fit your circumstances.

6. Prepare Your Documentation

To move smoothly through the mortgage application process, gather all necessary paperwork early.
This usually includes:

Proof of income (payslips or tax returns)
ID and proof of address
Bank statements
Details of debts, deposits, and commitments

Being organised helps prevent unnecessary delays.

7. Apply for Your Mortgage

Once you’ve chosen a lender, submit your application.

Be prepared for questions and requests for additional documents. Mortgage approval can take several weeks, so patience is essential.

8. Consider Additional Ongoing Costs

Remember that the mortgage isn’t your only financial commitment.

Factor in:

Home insurance
Utilities and maintenance
Service charges (if applicable)
Renovation or furnishing costs

Planning ahead keeps your finances healthy after you move in.

9. Seek Expert Advice If Needed

If the process feels overwhelming, professional support can make all the difference.

Mortgage advisers and brokers can explain complex terms, help you avoid common mistakes, and guide you toward the best deal for your situation.

Getting Your Mortgage Right

Understanding how to get a mortgage—and preparing each step carefully—can save you time, money, and stress. With the right knowledge and guidance, you’ll be ready to make confident decisions on your path to owning your new home.