Deposit isn't the only important factor in getting a mortgage – 6 other key checks to make

4 mins read

Whether it’s relocating to another county, country or just across the street, trying to figure out how to secure a mortgage is enough to make some come to terms with renting for the rest of their lives. However, when broken down, the considerations and necessities to secure a mortgage is far easier to accomplish than they seem.


A disturbing statistic but borrowers in the East Midlands are four times as likely to be denied their mortgage than those in London according to a study done by Nottingham Trent University.

In areas with a lower rate of accepted mortgage applications increasing the deposit amount will also increase the chances of securing the loan.


A fairly well known aspect is the fact that one needs to show they have the means to make repayments before an application will be accepted.

If there is a joint mortgage then both parties will have to show proof of income.


Additionally, the type of employment contract can also affect a mortgage application, if it is temporary and short-term there is a higher chance that the application will be denied as they are seen as higher risk.

A secure income for all members that will be involved with the mortgage is the ideal situation lenders are looking for.

The type of mortgage

Low deposit long-term mortgage applications are scrutinised far more closely than other types.

However, this also specifically depends on the lender, so doing a fair amount of research here will increase the chances of securing the mortgage.


Credit rating and credit history are hard to avoid when organising a mortgage, however having a good credit rating, as well as not having missed repayments on any previous loans, credit cards or mortgages will shine a positive light on the application.

Additionally, if someone oversees is trying to secure a mortgage in the UK then it is highly advisable to secure credit before applying.

Monthly expenses

Lenders tend to be interested in how a potential borrower spends their money, whether this be concerning utilities, other repayments or additional costs.

Lowering these monthly expenses as much as possible whilst still contributing where required will show the lender a sense of priority.

A small complication with this is when it comes to relocating away from past partners or family, as monthly expenses may be disproportionate due to previously shared finances.

Ask for a lower amount

It’s easier to secure lower mortgages so keep this in mind when house shopping in the first place, it may require some compromises such as reducing the number of bedrooms or finding a more rural location.

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