Cashback Remortgages · First-time buyers
Common First-Time Buyer Mortgage Mistakes
A few avoidable mistakes cause most first-time buyer delays and disappointments. Knowing them upfront keeps your application on track.
Mistakes to avoid
- Taking on new credit or big purchases just before applying.
- Treating an agreement in principle as a guaranteed offer.
- Budgeting only for the deposit and forgetting the other costs.
- Not checking your credit files for errors before applying.
- Changing jobs or income structure mid-application without telling your adviser.
- Not disclosing all commitments or the true source of the deposit.
Staying on track
Keep your finances stable through the process, respond quickly to document requests and tell your adviser about any change. Free advice early can flag issues before they become problems.
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.