How to Get Mortgage-Ready in Just 6 Months

Buying a home is about more than just finding the right place. If you are buying with a mortgage, finding the house of your dreams will only leave you disappointed if it turns out you aren’t ready to secure the loan you need.

Lenders look for more than a deposit and regular pay. They want to see that your finances are healthy and that you’re a trustworthy borrower, often with minimum credit score requirements.

If you want to buy soon, it’s best to start getting ready now. Doing some prep work can mean the difference between getting approved or being rejected.

Here’s how to get mortgage-ready in just six months.

Check Your Credit Report

Your credit report is one of the first things lenders look at. A healthy score reassures them you’re responsible with money.

• Get a copy of your credit report from Experian, Equifax or TransUnion.
• Correct errors: Even minor mistakes, such as an old address, can cause delays.
• Ensure you register on the electoral roll. It’s a quick win for improving your score.

Tip: Don’t panic if your score isn’t perfect. Lenders look at your profile as a whole, not just the number on your credit file. Nevertheless, if it is lower than you’d like, it helps to know in advance; that way, you can take measures to improve it.

Tidy Up Your Finances

Lenders do like to see steady, managed spending. In the months leading up to your application:

• Pay bills on time. Missed payments are a concern to lenders.
• Clear or reduce credit card balances.
• Avoid high-interest and payday loans: these can be a major red flag to lenders.
• Stay out of your overdraft if you can. 

It’s helpful to track your spending, so you know exactly where your money goes.

Print out your bank statements over the last six months and run through with a highlighter… every time you see something you think you could probably have lived without – a takeaway coffee, a non-business lunch, something spent on anything recognisably ‘fun’ rather than necessary like ‘Vue Cinemas’ – run a highlighter through it.

Add it all up at the end. You might be surprised! You don’t need to give it all up… but if you did, just for six months, how much would you save?

Build Your Deposit

If you are planning a purchase in just a few months, by now you should ideally be focused on saving.

• Automate savings with a standing order the day you get paid.
• Use a Lifetime ISA if you’re eligible. It gives you a 25% bonus, straight from the UK government.
• Cut back on non-essentials such as subscriptions or takeaways. It feels a little condescending to suggest it, but, as mentioned in the previous section, if you do carry out a spending exercise, you are likely to be shocked by how much you spend on non-essentials – most people are!

It often amounts to hundreds each month between two working adults, and that could be an extra few thousand on the deposit or to cover stamp duty or other costs over the course of six months.

• Add windfalls such as bonuses, tax rebates or side income straight to your deposit pot. It’s tempting to treat yourself, but you’ll thank yourself in the long term. 

Remember that an increase in your deposit could open the door to better mortgage rates, giving you all that ‘treat’ money back once you’re safely in your new home.

Steady Your Income

Lenders need to see that you can afford repayments, which is easier if you have a steady, regular income.

• Avoid job moves during this time if possible. New jobs often mean a probation period, and you may well find lenders unwilling to offer until that period has passed.
• Self-employed buyers should make sure accounts are up to date. Most lenders want two or three years’ records but may also ask for VAT returns or up-to-date management accounts (i.e., year-to-date accounts, even if not a whole year and unfiled).
• Side income can help, but be sure to declare it, keep records, and pay any tax owed.

Gather Your Paperwork

Having documents ready speeds up the process and, when you eventually apply for your mortgage, shows the estate agent and the seller that you’re organised. You’ll need:

• Valid passport or driving licence (proof of ID).
• Utility bill or bank statement (proof of address).
• The last 3 to 6 months of payslips and bank statements, or, if you’re self-employed, annual accounts and other management accounts as mentioned earlier.
• P60 (or SA302 if self-employed).
• Details of debts, loans and credit cards.

Seek Professional Advice

If you haven’t already, now is a good time to talk to a mortgage broker or advisor. These can:

• Compare deals across multiple lenders.
• Access exclusive rates.
• Help if you’ve got a tricky situation (like being self-employed or having past credit issues). 

Once you’ve found the right mortgage, you’ll be in a strong position to make an offer when the right property comes along.

Final Thoughts

Getting mortgage-ready takes planning, but even just a few months can be plenty of time to show lenders you’re a safe bet. Clean up your credit file, save consistently, maintain a regular and stable income, and have your documents in order, and you’ll find yourself in a far better position to secure the mortgage you need to make your move.

By the time you’re sitting in front of a broker or lender, you’ll not only look like a reliable borrower, but you’ll also feel more confident, too.

Frequently Asked Questions 

What credit score do I need for a mortgage?
There’s no single “magic number”. Each lender has its own criteria, but generally, the higher your score, the better your chance of getting approved.

Can I get a mortgage if I have debt?
Yes, but large outstanding debts can reduce how much you can borrow. Clearing or reducing debt before applying improves your affordability as well as your credit score.

How many months of payslips do lenders need?
Most lenders ask for the last three months' worth of payslips, plus your latest P60. Self-employed buyers usually need at least two years of accounts and may be asked for monthly management accounts for the year to date.

Should I pay off debt or save for a deposit first?
It depends. If your debt is expensive (like credit cards), focus on reducing it. If it’s low-interest and manageable, it could even improve your credit score to maintain these payments, and you might instead prioritise deposit savings.

How long does a mortgage offer last?
Typically 3–6 months, depending on the lender. If your purchase takes longer, you may need to reapply or extend your mortgage offer.

If you’re thinking of moving, e-mail Nick Harris or Teresa Ling on hello@quarters.agency – we’re here to help!