As house prices continue to rise, taking your first step onto the property ladder is becoming more difficult. Being accepted for a mortgage can be tricky, but you can stack the odds in your favor by formulating a plan of action and sticking to it. Mortgage lenders consider various elements when processing your application but knowing how to prepare 

is half the battle. These five simple tips will give you a better chance of being granted a mortgage. 

1. Don’t quit your day job 

Being in a job you hate is a terrible situation but, if you want to maximize your chances of being accepted for a mortgage. You need to have held down a stable job for at least half a year before your application. Lenders love stability and one of the ways they measure it is the length of time you’ve spent in your current role. Flip-flopping between jobs will harm your application as lenders will consider you a financial risk. 

Try your best to stick with your job for that crucial six month period before your application. If you feel like you have to quit or if you get sacked, delay your mortgage application until you’ve been in a role for a prolonged period. 

2. Improve your credit score 

Lenders will take your credit score into account when processing your application. Even if you get accepted for a mortgage, a low score may harm the terms of the offer the lender makes you, so it’s always worth trying to improve it. Many websites allow you to find out your score for free and you can get a detailed report for a small fee. 

The best way to improve your credit score is to eliminate debts and avoid missing bill payment deadlines. You can also demonstrate your fiscal responsibility by successfully managing agreed credit allowances. Get a credit card or 

overdraft and use it responsibly for a few months, making sure to pay all fees on time. Your score will improve 

as the lenders see that you are capable of honoring financial arrangements. 

3. Register to vote 

Ensure that you, and anyone you’re making the mortgage application with, are definitely on the electoral register. Lending companies use this information to confirm your address and identity. They try to build up as detailed a picture of your circumstances as possible, and not being on the electoral register may give them cause for concern. 

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