Stay ahead of the affordability curve

With high interest rates and the rising cost of living, getting a mortgage can feel daunting. The good news is that there are practical steps you can take to make yourself more attractive to lenders. Follow these four essential tips to boost your chances.

How do lenders decide whether to offer you a mortgage?

Before approving a mortgage, lenders must carry out an affordability assessment to make sure you can comfortably repay what you borrow. This involves reviewing your current and expected financial situation, your credit history and a range of other factors.

The good news is that there are several actions you can take now to improve your likelihood of being approved.

1. Demonstrate stable employment

Lenders value consistency in your employment history. Most prefer to see that you’ve been with your employer for at least three to six months before applying for a mortgage.

If you’re self‑employed, lenders usually look for additional evidence of stability. Many ask for three years of accounts, although some will accept two years, and a small number may consider applicants with just one year’s trading history.

2. Reduce existing debts

Lenders compare your outgoings with your income to understand how much you need to cover everyday living costs and how much is left over for mortgage repayments.

Paying down credit cards, keeping up to date with bills and minimising the number and size of outstanding loans can increase your available income on paper. This, in turn, can improve your chances of passing an affordability assessment.

3. Check your credit report

Your credit report gives lenders insight into how you’ve managed money in the past. A poor credit history may reduce the amount you’re offered, or in some cases result in an application being declined.

Before applying, check your credit report for errors, ensure you’re registered on the electoral roll at your current address, avoid applying for new credit in the six months leading up to your mortgage application, and keep well within any existing credit limits.

4. Get professional advice

You don’t have to navigate affordability assessments on your own. A qualified mortgage adviser can explain how these checks work and provide tailored guidance based on your circumstances.

They can be particularly helpful if you’re self‑employed or have an uneven credit history, and can support you in finding a lender and mortgage product that’s right for you.

Set yourself up for affordability success by contacting one of our advisers today.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Approved by The Openwork Partnership on 12/05/2026.

 

Lilac Financial is a trading name of Lilac Financial Ltd, which is an appointed representative of The Openwork Partnership, a trading style of Openwork Limited which is authorised and regulated by the Financial Conduct Authority.