When you apply for a mortgage, lenders conduct a series of mortgage checks to ensure you can afford the loan and that the property meets their criteria. Knowing these checks in advance helps you prepare documents, avoid unexpected surprises, and expedite the approval process.
Income and affordability checks
Lenders first test affordability — they look at your salary, bonuses, other income, and outgoings to calculate how much you can borrow. Expect them to use payslips, employment details, and a stress test (to determine if you can still afford payments if rates rise). If you’re buying your first home, our First Time Buyer guide explains the documents you’ll need.
Credit history and ID checks
A lender will check your credit file to see how reliably you’ve managed borrowing, missed payments, or defaults. Hard credit searches are normal during a mortgage application, so avoid opening new credit accounts just before you apply. Registering on the electoral roll and correcting any errors on your credit file can help.
Bank statements, spending, and the source of deposit
Lenders typically request recent bank statements to verify your regular income, outgoing bills, and the source of your deposit (such as savings, gift, or sale proceeds). They also screen for concerning patterns, such as frequent overdrafts or unexplained large deposits — this is part of anti-money laundering and affordability checks. If you’re planning to make extra repayments or a larger deposit, please notify your adviser so that your application accurately reflects this.
Self-employed applicants and document checks
If you’re self-employed, lenders usually want 1–3 years’ accounts or tax calculations (SA302s) to confirm income. The paperwork is a bit heavier, but preparing HMRC tax summaries and accountant-signed accounts in advance makes the process much smoother. For remortgage queries or complex incomes, our Remortgage service can help you decide what to supply.
Property valuation and final checks
Lenders don’t just check you — they check the property. A valuation or survey confirms the house is suitable security for the loan and that its value supports the mortgage amount. Lenders also run final credit checks before exchange/completion to ensure nothing has changed since the application. That’s why it’s important not to take on new debts between offer and completion.
How to prepare — quick checklist
- Check your credit file and fix mistakes.
• Gather payslips, bank statements, and ID documents.
• Be ready to prove your deposit source.
• If self-employed, pull together SA302s or accountant-prepared accounts.
• Avoid large purchases, new credit, or missed payments while your application is live. For personalised help, speak to one of our advisers at Credas Financial — we can run a pre-application check to spot issues early.
Conclusion: get ready and speed your approval
Preparing documents and understanding the mortgage checks lenders make will reduce delays and increase your chance of a smooth offer. Good preparation brings confidence — and a better chance of securing the right mortgage for your needs.
Disclaimer
The information in this article is for general guidance only and does not constitute financial or mortgage advice. Policies and lender requirements vary, and eligibility depends on personal circumstances. We recommend speaking with a qualified adviser at Credas Financial before making any mortgage decisions.