How to Get a Mortgage: A Step-by-Step Guide

Written & reviewed by David Clark, CeMAP
Published 2026-07-17 · Updated 2026-07-17 · ~10 min read · Author bio ↓

Getting a mortgage feels opaque the first time, but it's a defined process with a clear order. Understand the order and you can prepare for each stage rather than reacting to it. This guide walks through the whole thing and links to detailed guides on the three questions that come up most: the agreement in principle, the documents you'll need, and how self-employed income is assessed.

Am I eligible for a mortgage?

Eligibility rests on three pillars, and lenders weigh all three together rather than passing or failing you on any single one.

• Deposit. Usually at least 5% of the price. More deposit means better rates and wider lender choice.
• Income. Steady and verifiable. The type matters less than whether the lender can confirm it and rely on it.
• Credit. A history the lender will accept. Adverse markers narrow options rather than automatically ruling you out.

On top of those, lenders consider your age at the end of the term, your residency status, and the property itself, some construction types and flats above shops, for instance, suit fewer lenders.

What do lenders actually check?

Behind the scenes, a lender is answering one question: will this person reliably repay this loan? To do that it checks your income against your outgoings (affordability), stress-tests whether you'd cope if rates rose, reviews your credit conduct, and confirms the property is worth what you're paying and is acceptable security. Knowing this makes the paperwork make sense, every document you provide answers part of that question.

The mortgage process, step by step

1. Work out affordability Establish a realistic budget from your income, deposit and outgoings. A short call gets you started
2. Get an agreement in principle A lender indicates what it would lend, based on a soft credit check. Often same day
3. Find a property and offer With an AIP in hand, your offer is taken seriously.
4. Submit the full application With documents ready, the lender assesses the case in detail. Application to offer: 2–4 weeks
5. Valuation and underwriting The lender values the property and an underwriter reviews everything.
6. Formal mortgage offer The lender commits in writing. Legal work completes the purchase. Offer to completion: often several weeks

What documents will I need?

Having documents ready is the single biggest thing you control in the timeline. Missing paperwork is the most common cause of avoidable delay. In brief, most applicants need proof of identity and address, recent payslips and a P60 (or accounts if self-employed), several months of bank statements, and evidence of your deposit. Our full mortgage documents checklist sets it all out by employment type.

Does it matter how I'm employed?

It changes how your income is evidenced, not whether you can borrow. Employed applicants are usually the most straightforward, payslips and a P60 tell the story. Self-employed applicants, contractors and those with commission or bonus income are all lendable, but lenders differ sharply in how they assess that income, which is exactly where being matched to the right lender pays off.

Why do mortgage applications get declined?

• Affordability falls short. Once debts and commitments are counted, the sums don't stretch to the loan requested.
• Adverse credit. A default or CCJ that this particular lender won't accept, though another might.
• Deposit too small for that lender's criteria on that property type.
• Income can't be verified, or is too new, a recent job change or very short trading history.
• The property itself. Non-standard construction, short lease, or a down-valuation by the surveyor.

Most of these are workable, with the right lender from the outset, or by preparing the case properly first. Applying blind and being declined leaves a hard search on your file, which is why matching before applying matters.

How long does the whole thing take?

An agreement in principle: often the same day. A full application to formal offer: usually 2 to 4 weeks. The complete purchase, including legal work and any chain: commonly 8 to 12 weeks. The parts you influence most are how quickly you provide documents and how well the case is matched to the lender at the start.

David Clark, CeMAP
25 years guiding Essex clients through the mortgage process, from first application to complex cases. Has lived in Essex for 40 years and loves working in a thriving, exciting area with great people and lots of opportunities. FCA individual reference DJC01353. Full bio →