How to get a mortgage
If you’d like to buy a house in 2025, the chances are you’ll need a mortgage to buy the home. So how do you get started and what should you expect? In this guide, we’ll cover off exactly how to get a mortgage, from start to finish.
How to get a mortgage:
Step 1: Find out how much you can afford to borrow
The first thing you want to do is find out how much you can afford to borrow. A basic mortgage calculator is a good place to start, but the majority of these only show your borrowing capacity based on standard mortgages. There are loads of alternative buying schemes that could help you borrow more!
When you create a free Tembo plan, we’ll compare your eligibility to over 20,000 mortgages and over 25 specialist buying schemes to show you all the ways you could get on the ladder. For each of your eligible schemes, you can also download a free Mortgage in Principle. Get started.
What is a Mortgage in Principle?
A Mortgage in Principle is a formal document issued by a bank, building society or mortgage broker that outlines how much you could borrow if you applied for a mortgage based on a set of information you’ve provided. A Mortgage in Principle plays an important role when buying a home - some estate agents won’t let you view a property unless you have one. A Mortgage in Principle isn't legally binding, so there’s no guarantee you’ll get a mortgage when you apply - it’s used as an indication of your potential borrowing power.
You can get a free, downloadable Mortgage in Principle for each of your mortgage options when you create a free, personalised Tembo plan.
Learn more: What salary do I need to buy a house?
See what you’re eligible for
There are lots of ways to get on the ladder - the hard part is knowing what they are or if you’re eligible! That’s where Tembo comes in. Create a free plan today and our smart technology will assess your eligibility with thousands of mortgages and budget-boosting schemes. At the end, you’ll get a personalised mortgage recommendation with all the ways you could make home happen.
Step 2: Speak to a mortgage specialist
Once you’ve worked out how much you can afford to borrow, it’s a good idea to speak to a mortgage advisor, especially if you’re hoping to buy with a small deposit, unpredictable income, or you’ve got a poor credit score. While you could get a mortgage by applying through your high street bank or via a price comparison tool, but this could cost you more than if you applied through a broker. Here at Tembo, we can compare thousands of mortgages in minutes, ruling out unsuitable options before you apply and accessing competitive, broker-only deals you can’t find elsewhere.
Learn more: How much does a mortgage advisor cost?
Step 3: Get an Agreement in Principle
The next step is to get an Agreement in Principle. This is a document from the lender you want to get a mortgage from, confirming how much you’ll be able to borrow. An Agreement in Principle is different from a Mortgage in Principle, although the terms are often used interchangeably. Instead of an indication of how much you could borrow, the Agreement in Principle is an indication of what a lender is willing to offer to you.
Like a Mortgage in Principle, an Agreement in Principle isn’t legally binding and the lender could reduce your loan amount or decline your application at a later stage. If this happens to you, don’t panic. Instead, read our guide on what to do if the bank says ‘no’.
Step 4: Apply for your mortgage
Once you’ve found a home you’d like to buy, it’s time to apply for your mortgage! If you got your Agreement in Principle directly through your lender, you should have received instructions explaining how to apply for your mortgage. If you’re using a mortgage broker, let them know that you’ve found a property and they’ll start the application process for you. Your broker will then do most of the admin and paperwork for you and even work with your conveyancing solicitor and estate agents on your behalf.
Learn more: How long will interest rates stay high?
Step 5: Final steps
Once you’ve got your mortgage agreed, the final steps are sorting through the legal aspects of buying a home, like property surveys, transferring your deposit and agreeing a completion date. Your solicitor (and mortgage broker if you have one) will guide you through most of the process and transfer any funds on your behalf, so hopefully all you’ll have to do is wait for a completion date and start comparing paint samples.
What is the hardest part of getting a mortgage?
The hardest part of getting a mortgage is often meeting a lender’s affordability criteria. Each lender will have their own criteria which they’ll use to determine whether to offer a mortgage to you and how much to lend. Some lenders have more strict or particular criteria than others, which is why it’s a good idea to get mortgage advice instead of approaching lenders directly - otherwise you could find your mortgage application rejected.
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We’ve helped thousands of first-time buyers discover how they could afford their first home with the help of affordability-boosting schemes. Create a free plan to see what you could afford.