Cashback Remortgages · Mortgage knowledge
Mortgage Eligibility and Affordability
Eligibility is about whether a lender will lend to you for a particular property, not only what a calculator suggests. Income type, credit history, deposit source, existing commitments and the property itself all matter, and criteria differ between lenders.
What a lender actually assesses
Lenders look at income and its stability, regular commitments, credit history, the deposit and its source, and the property. A comfortable-looking calculator result is not confirmation that a lender will approve the borrowing.
If your income includes self-employment, bonuses, commission or benefits, expect requests for evidence over a period. Different lenders treat variable income differently, so one decline does not mean every lender will refuse.
Preparing before you apply
Check your credit file with the main agencies, make sure you are on the electoral roll and avoid unnecessary new borrowing shortly before applying. Keep a clear record of savings and any gifted deposit. Small preparation steps can widen the products available to you.
Disclose everything accurately. An application that omits commitments or misdescribes a deposit source can fail later checks even after an early indication.
Why eligibility is not a guarantee
Even with a strong profile, the lender's valuation, the lease or construction of a property, or a change in your circumstances can affect the decision. An agreement in principle is conditional and time-limited.
Speak to an adviser about your specific situation rather than relying on a generic checklist. The right lender for a particular case depends on the combination of income, deposit, credit and property.
Sources and further reading
General mortgage information, not a personal recommendation. Lender criteria and scheme rules can change. Ask an adviser about your circumstances and a solicitor or tax adviser about legal or tax questions. Your home may be repossessed if you do not keep up repayments on your mortgage. Most buy-to-let mortgages are not regulated by the FCA.
Discuss the next step for your mortgage
Understand your options before you make a decision.