Buying your first home is a huge moment but before you can take ownership of your desired property you'll need to be accepted for a mortgage. Typically, those looking to get onto the housing ladder will need to save up a deposit (around 10% of the house price) before being accepted. However, there are a number of other hurdles that you'll need to overcome in order to please the lender.
These are the things you should not do before getting a mortgage Huge credit card expenses can put off lenders (Image: Getty Images) These are the things you should not do if you want to get a mortgage . Comical references While sending money to your friend, you may decide to add a funny reference to the transaction. While this may be amusing at the time, lenders may be more straight-faced about the whole situation and factor it in when deciding on your affordability.
Making huge purchases using a credit card Making huge purchases using your credit card means you have taken on more debt. A bank will see this new obligation as a factor potentially affecting your ability to keep up with the monthly payments associated with mortgages. Going self-employed Becoming self-employed before and during the mortgage application process can present serious problems.
This is because most lenders will require proof of average income over a two-year period, making it harder to prove your affordability. Transfers with funny references can also hurt your chances of securing a mortgage (Image: Getty Images) Recom.