Logo
DropdownArrow

Buy a home HoverArrow

Remortgage HoverArrow

DropdownArrow

Purchase HoverArrow

Remortgage HoverArrow

Buy to Let HoverArrow

Increase your affordability HoverArrow

With a guarantor

Increase your affordability HoverArrow

Without a guarantor

NEW: long-term fixed rate

Fix your interest rate for up to 40-years and increase your borrowing to 6x income. Rates from 5.69%

Learn more
Discover all our mortgage schemes
New
DropdownArrow

Lifetime ISA HoverArrow

Latest Articles HoverArrow

NEW: CASH LIFETIME ISA

Save with the market-leading rate

Open a Cash Lifetime ISA today and earn 4.30% AER (variable) interest on your savings. Over 5-years, that’s hundreds more in your pocket than with the closest market competitor.

DropdownArrow

Latest articles HoverArrow

DropdownArrow

Buy a home HoverArrow

Remortgage HoverArrow

Mortgage loginCheck my affordability

What do I need to do before buying a house?

By
Anya GairAnya Gair
Last Updated 19 August 2024

The countdown is on! If you're on this blog, you've hopefully quite close to your savings goals for a house deposit. After years of dreaming about it (and the endless hours of scrolling through Rightmove...) owning your first home is actually within reach!

At this point, you probably just want to move in already (!!!) but before that happens, there are a few things you need to do before applying for your first mortgage and buying your first house. As with all things, a lil’ preparation goes a long way, so here are some things you can do to get you ready.

How to Buy a House - 10 Steps to Buying Your First Home

What do I need to do before buying a house?

Before buying your dream home, there are a few things you should do to make the process as easy as possible for yourself - checking your credit score, locating your important documents (IDs, bank statements and payslips) and cutting down on unnecessary spending are just the start! So, here are the 5 essential steps you should take before buying a house.

1. Organise your paperwork in advance 📑

When applying for a mortgage, you’ll need to prove that you’re going to be able to pay the money back. That’s why the lender will ask to see proof of your income and outgoings.

You’re going to need:

  • A form of photo ID that’s not expired and is up to date with any changes to your name or address.
  • 3-6 months of your most recent bank statements.
  • 3 months of payslips if you’re employed.
  • 2-3 years of tax returns and business accounts if you’re self-employed.

Read more: Guide to mortgages for the self-employed

2. Check your credit score 💳

A good credit score can increase your chances of getting accepted for a mortgage because it shows that you have a good track record when it comes to paying things back on time. Ideally, you’ll have checked your credit score before this point, but if you haven’t now’s a good time to pay your score a visit. 

If your score isn’t as high as you’d like, it’s a good idea to do what you can to improve your score before applying for a mortgage. The easiest place to start is to check your credit score and see if there are any quick wins - like repaying outstanding loans.

If you’re currently renting, sign up to Credit Ladder to report your monthly rent payments to boost your credit score. You can also use apps on your phone like CredAbility to improve your score. It’s free to use, provides updates on your credit report and allows you to set credit score goals to help you improve.

Other quick wins to boost your score, are making sure you have some credit - say a small amount on a credit card and ensuring it is paid on time every month. This shows lenders you can manage debt. 

BulbIcon

Important ⚠️

Forgetting to pay or maxing out your credit card limit will lower your score. You can set up direct debits with most providers to ensure you never miss your minimum payment.

Check your score with CheckMyFile

CheckMyFile will show your credit history from the major credit agencies. So it's easy for you to spot any issues which could be affecting your credit score.

Get your report

3. Cut back on spending 💰

As we know, the mortgage lender will ask to see 3-6 worth of bank statements. This is to ensure you can afford a mortgage, so it’s a good idea to keep your spending in check in the months leading up to buying your first home and applying for a mortgage. 

Here’s some tips on how to keep your statements looking squeaky clean:

  • Try to avoid making any big purchases (like a new car, or a 2-week trip to Vegas).
  • Avoid buying one-off items regularly (like a pair of gym socks today, then a new suitcase tomorrow, then a new candle the next — you get the idea). It’s better to buy more things in one go, because then there will be less outgoings on your statements.
  • If you can, buy stuff like bedding, cosmetics or birthday gifts with your weekly grocery shop.
  • If you’ve got a birthday/occasion coming up, ask for gift vouchers to your favourite restaurants or bars. You can go all-out, without it showing on your statements.

4. Reduce your red flags 🚩

Even if you’re not overspending, there are a few things that can be red flags for mortgage providers. For example, if a lender sees any gambling transactions on your statements (e.g. Betfred, or Paddy Power) you are seen as more of a risk, which could impact the success of your mortgage application. The same goes for buy-now-pay-later transactions like Klarna.

Mortgage lenders have also been known to reject or take longer to process applications if you use PayPal too often. Why? Because there’s no clear reference of where your money’s going (and lenders want to know that stuff).

5. Assemble your dream team 🤝

Picture this. It’s 6 months from now — you want to put an offer in on this perfect 2-bedroom semi-detached house with a south-facing garden and time 👏  is of 👏  the essence 👏. But you haven’t got the foggiest of how to even start finding the right mortgage lender or deal for you. To avoid all that mess, find your dream team in advance to make your journey to getting your keys as smooth as possible:

  • A mortgage advisor 🏠
  • A solicitor/conveyancer 🔍
  • A building surveyor (if you want to do extra checks on the home you might buy) 👷‍♀️
  • A removals team 🚛

At Tembo, you'll get your own dedicated mortgage team to walk you through all the steps - from your first call to getting your keys. Your dedicated mortgage team can also recommend other professionals you need like conveyancers, to make your journey to homeownership as smooth as possible. Our new service TemboMove is there for you when you're ready to move in, to recommend local removals teams, broadband services and utilities providers.

Get an award-winning mortgage team on your side

Voted the UK’s Best Mortgage Broker for two years’ running by our customers, Tembo specialises in helping homebuyers and remortgagers how they could maximise their affordability. See what options are available to you by creating your own personalised mortgage recommendation today. It’s free and only takes 10 minutes.

Get started

Learn more

See all