What documentation will I need?

When applying for a standard mortgage, lenders typically require several key documents to verify your identity, income and financial stability. The most common documents include proof of identity (such as a valid passport or driver's license), proof of address (often recent utility bills or bank statements), proof of income (usually recent payslips) and bank statements for the last 3 to 6 months.

What is an 'Agreement in Principle'?

An Agreement in Principle (AIP), also known as a mortgage decision in principle, is a conditional statement from a mortgage lender indicating how much they're likely to lend you based on an initial review of your financial situation. We'll research and identify the most suitable lender for your needs and apply for an AIP on your behalf. It's important to note that an AIP is not a formal mortgage offer, but a helpful pre-approval document. It gives you a clear idea of how much you could borrow and what your mortgage repayments might look like, based on your current financial circumstances. Estate agents often request to see your AIP as it shows you're a serious buyer and that you're financially prepared to proceed with a property purchase.

How much deposit will I need?

The amount of deposit you need for a mortgage typically depends on the lender and the type of mortgage you're applying for. For most standard residential mortgages, a deposit of 10% to 20% of the property value is common. The larger your deposit, the better mortgage deals and interest rates you may be offered.