Buying your first home is exciting — but it can also feel overwhelming. Having a clear checklist can make the process much smoother and improve your chances of mortgage approval.
1. Know Your Budget
Start by understanding how much you can realistically afford. Consider:
- Your income
- Existing debts
- Living expenses
A mortgage adviser can help estimate your borrowing power early on.
2. Build Your Deposit
Most lenders prefer at least a 10–20% deposit. Make sure your savings are consistent and well-documented.
3. Check Your Credit Profile
Banks will review your financial behaviour. Before applying:
- Pay bills on time
- Reduce unnecessary debt
- Avoid missed payments
4. Get Pre-Approval
Mortgage pre-approval gives you a clear price range and shows sellers you’re serious. It’s one of the most important steps before house hunting.
5. Organise Your Documents
You’ll typically need:
- Proof of income
- Bank statements
- ID
- Details of assets and debts
Having these ready speeds up the process significantly.
6. Understand Extra Costs
Buying a home involves more than just the deposit. Budget for:
- Legal fees
- Building inspections
- Moving costs
7. Get the Right Advice
A mortgage isn’t one-size-fits-all. Structuring your loan correctly from the start can save you thousands over time.
Working with Lendal Mortgages can help you tick off every step with confidence and avoid costly mistakes.